Trusts and Trustees Act (Cap. 331)
Trusts and Trustees Act (Cap. 331), article 6
6. (1) When the proper law of a trust is the law of Malta as
the chosen applicable law of th e trust or as determined in
accordance with article 7 of the Convention, notwithstanding th e
provisions of any other law, the validity of the trust, its
construction, its effects and the administration of the trust s hall be
governed by this Act and other provisions of Maltese law on tru sts.
(2) When the proper law of a tr ust is a foreign law as the
chosen applicable law of the trust or as determined in accordan ce
with article 7 of the Convention, notwithstanding the provision s of
any other law, the validity of the trust, its construction, its effects
and the administration of the trust shall be governed by such
foreign law and shall be recognise d and given effect to in Malt a in
accordance with the Convention and this Act.
(3) The administration of a trust may be regulated by a law
different from the pro per law of the trust.
Cap. 16.
(4) Trusts created or recognised in accordance with this Act are
not prohibited by articles 331, 757 to 761 and 1776 of the Civil
Code.
Cap. 16.(5) Article 586 of the Civil Code shall not affect any term of a
trust because it relates to the inheritance of the settlor or b ecause a
disposition relating to property under trusts is to take effect after
the death of the settlor.
(6) Subject to the provisions of article 11 and article 21(7),
when a commercial transaction includes the appointment of a
trustee to hold property under trusts in relation to such trans action,
the trust shall operate in accord ance with the express terms of the
trust instrument.
Mandatory rules to
prevail.
Added by:
XIII. 2004.7.
Text read from the consolidated PDF published by Legislation Malta. Tables, figures and marginal notes may be incomplete or out of place: the official PDF is authoritative. General information, not legal, tax or accounting advice.