Trusts and Trustees Act (Cap. 331), article 53

53. (1) The court, upon the application of the Authority, may make a disqualification order ag ainst any person who is found guilty of an offence under this Act or any other law, other tha n an offence punishable only with a fine, or who has infringed any requirement of this Act. (2) The court, upon the application of the Authority or any interested person, may also make a disqualification order again st any person if it is satisfied that his conduct as a trustee of a trust, either taken alone or taken together with his conduct as a trus tee of any other trust or trusts, mak es him unfit to be a trustee. (3) A disqualification order made under this article may be for a minimum period of one year and a maximum period of fifteen years. (4) For the purposes of this article, a disqualification order i s an order whereby a person shal l not, without leave of the court - (a) be a trustee of a trust o r a private foundation; or (b) be delegated any functions, duties or powers of a trustee; or (c) perform or exercise any functions or otherwise act in a fiduciary capacity in relation to a mandate, trust or a private foundation. TRUSTS AND TRUSTEES [CAP. 331. 57 (5) A notice of a disqualification order made under this article shall - (a) be delivered by the Registrar of Courts to the Authority; (b) be furthermore recorded in a register to be kept for this purpose by the Authority and which shall be open for public inspection. (6) Any person who, while being subject to a disqualification order, acts in contravention thereof, shall be guilty of an off ence and liable on conviction to a fine ( multa ) of not more than forty- seven thousand euro (€47,000) or imprisonment for a term not exceeding three years or to both such fine and imprisonment. (7) The provisions of this article shall be without prejudice to any other offences or remedies which may exist under any other law. Persons not qualified to act as trustees. Added by: XIII. 2004.33.