THE STATUTES OF THE REPUBLIC OF SINGAPORE TRUSTEES ACT (CHAPTER 337)
(Original Enactment: Act 17 of 1967) REVISED EDITION 2005 (31st July 2005) Prepared and Published by THE LAW REVISION COMMISSION UNDER THE AUTHORITY OF THE REVISED EDITION OF THE LAWS ACT (CHAPTER 275)
An Act relating to trustees. [15th July 1967]
ARRANGEMENT OF SECTIONS PART I PRELIMINARY Section 1. Short title 2. Application of Act 3. Interpretation PART IA STATUTORY DUTY OF CARE 3A. Trustees’ statutory duty of care PART II INVESTMENTS 4. General power of investment 5. Standard investment criteria 6. Advice 7. Power to retain investment which has ceased to be authorised 8. [Repealed] 9. Loans and investments by trustees not chargeable as breaches of trust 10. Liability for loss by reason of improper investment 11. Powers supplementary to powers of investment 12. Power to deposit at bank, to pay calls and to purchase dwelling- house for beneficiary PART III GENERAL POWERS OF TRUSTEES AND PERSONAL REPRESENTATIVES General Powers 13. Power of trustees for sale to sell by auction, etc. 14. Power to sell subject to depreciatory conditions Section 15. Power of trustees to give receipts 16. Power to compound liabilities 17. Powers of trustees of renewable leaseholds to renew and raise money for the purpose 18. Power to raise money by sale, mortgage, etc. 19. Protection to purchasers and mortgagees dealing with trustees 20. Devolution of powers or trusts 21. Power to insure 22. Application of insurance money where policy kept up under any trust, power or obligation 23. [Repealed] 24. Reversionary interests, valuations and audit 25. [Repealed] 26. Power to concur with others 27. Delegation of trustee’s functions by power of attorney Indemnities 28. Protection against liability in respect of rents and covenants 29. Protection by means of advertisement 30. Protection in regard to notice 31. Exoneration of trustees in respect of certain powers of attorney 32. Implied indemnity of trustees Maintenance, Advancement and Protective Trusts 33. Power to apply income for maintenance and to accumulate surplus income during a minority 34. Power of advancement 35. Protective trusts PART IV APPOINTMENT AND DISCHARGE OF TRUSTEES 36. Limitation of the number of trustees 37. Power of appointing new or additional trustees 38. Supplemental provisions as to appointment of trustees 39. Evidence as to a vacancy in a trust 40. Retirement of trustee without a new appointment 41. Vesting of trust property in new or continuing trustees PART IVA AGENTS, NOMINEES AND CUSTODIANS Section 41A. Application of this Part Agents 41B. Power to appoint agents 41C. Persons who may act as agents 41D. Linked functions, etc. 41E. Terms of agency 41F. Asset management — special restrictions Nominees and custodians 41G. Power to appoint nominees 41H. Power to appoint custodians 41I. Investment in bearer securities 41J. Persons who may be appointed as nominees or custodians 41K. Terms of appointment of nominees and custodians Review of and liability for agents, nominees and custodians, etc. 41L. Application of sections 41M and 41N 41M. Review of agents, nominees and custodians, etc. 41N. Liability for agents, nominees and custodians, etc. Supplementary 41O. Effect of trustees exceeding their powers PART IVB REMUNERATION 41P. Application of this Part 41Q. Trustee’s entitlement to payment under trust instrument 41R. Remuneration of certain trustees 41S. Trustees’ expenses 41T. Remuneration and expenses of agents, nominees and custodians PART V POWERS OF COURT Section 42. Power of court to appoint new trustees 43. Power to authorise remuneration 44. Powers of new trustee appointed by the court Vesting Orders 45. Vesting orders of land 46. Orders as to contingent rights of unborn persons 47. Vesting order in place of conveyance by infant mortgagee 48. Vesting order consequential on order for sale or mortgage of land 49. Vesting order consequential on judgment for specific performance, etc. 50. Effect of vesting order 51. Power to appoint person to convey 52. Vesting orders as to stock and thing in action 53. Vesting orders of charity or society property 54. Vesting orders in relation to infant’s beneficial interest 55. Orders made upon certain allegations to be conclusive evidence Jurisdiction to make other Order 56. Power of court to authorise dealings with trust property 57. Persons entitled to apply for orders 58. Power to give judgment in absence of trustee 59. Power to charge costs on trust estate 60. Power to relieve trustee from personal liability 61. Power to make beneficiary indemnify for breach of trust Payment into Court 62. Payment into court by trustees PART VI CHARITABLE TRUSTS 63. Public Trustee may administer property of charitable trust without trustee 64. Validation of certain imperfect charitable trusts Incorporation of Trustees Section 65. Grant of certificate of registration of trustees as body corporate 66. Estate to vest in body corporate 67. Particulars respecting application 68. Nomination of trustees and filling up vacancies 69. Liability of trustees and others, notwithstanding incorporation 70. Certificate to be evidence of compliance with requirements 71. Record of applications and documents to be kept, and supply of copies 72. Enforcement of conditions and directions 73. [Repealed] 74. Gifts to vest in body corporate 75. Common seal 76. Contracts not under seal to be binding in certain cases 77. Payments on transfers in reliance on corporate seal protected 78. Trustees to keep accounts and to render annual returns of accounts 79. Application to decide question whether person is a member of a body corporate 80. Dissolution of body corporate 81. Penalty for false statement 82. Penalty for not filing returns, etc. PART VII TRANSPARENCY AND EFFECTIVE CONTROL 83. Interpretation of this Part 84. Application of this Part 84A. Regulations PART VIII GENERAL PROVISIONS 85. Indemnity 86. Avoidance of dispositions and trusts created to defraud creditors 87. Effect of Bankruptcy Act on transactions at undervalue and unfair preferences 88. Accumulation of income for duration of trusts 89. Perpetuity period applicable to trusts Section 90. Validity of certain trusts 91. Savings, transitional and further consequential provisions First Schedule — Application of Statutory Duty of Care under Part IA Second Schedule — Particulars to be inserted in application for incorporation of trustees Third Schedule — Form of Power of Attorney under section 27(5)
This Act may be cited as the Trustees Act.
“authorised investments” means investments authorised by the instrument, if any, creating the trust for the investment of money subject to the trust, or by law; “contingent right”, as applied to land, includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent; “convey” and “conveyance”, as applied to any person, include the execution by that person of every necessary or suitable assurance (including an assent) for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of land whereof he is seised or possessed, or wherein he is entitled to a contingent right, either for his whole estate or for any less estate, together with the performance of all formalities required by law for the validity of the conveyance; “court” means the High Court and includes, in any case where the trust concerned is an executorship or administratorship, a Family Court; [Act 16 of 2016 wef 01/07/2016] “debentures” includes debenture stock, loan stock, bonds, notes and any other document which creates or acknowledges a debt, whether constituting a charge on assets or not; “general power of investment”, in relation to a trustee, means the general power of investment conferred on him by section 4; “income” includes rents and profits; “instrument” includes a written law; “land” has the same meaning as in section 4 of the Land Titles Act (Cap. 157); “mortgage”, “mortgagee” and “mortgagor” include “charge”, “chargee” and “chargor” respectively, and further include and relate to every estate and interest regarded in equity as merely a security for money, and every person deriving title under the original mortgagee; “pay” and “payment”, as applied in relation to stocks and securities and in connection with the expression “into court”, include the deposit or transfer of the same in or into court; “personal representative” means the executor, original or by representation, or administrator for the time being of a deceased person; “possessed” applies to receipt of income of and to any vested estate less than a life interest in possession or in expectancy in any land; “possession” includes receipt of rents and profits or the right to receive the same, if any; “property” includes movable and immovable property, and any estate, share and interest in any property, movable or immovable, and any debt, and any thing in action, and any other right or interest, whether in possession or not; “rights” includes estates and interests; “sale” includes an exchange; “securities” includes debentures, stocks, funds and shares; and so far as relates to payments into court has the same meaning as in the written laws relating to funds in court; “securities payable to bearer” includes securities transferable by delivery or by delivery and endorsement; “shareholders equity”, in relation to a company, means the total assets of the company less the total liabilities of the company as disclosed in the last audited accounts of the company laid before a general meeting of the company in accordance with section 201 of the Companies Act (Cap. 50) (or the equivalent provision of the law of any other country which applies to that company) or, if a prospectus has subsequently been registered by the company in accordance with the requirements of law, the accounts contained in that prospectus; “solicitor” means an advocate and solicitor of the Supreme Court; “standard investment criteria”, in relation to a trust, means the standard investment criteria set out in section 5(3); “statutory duty of care”, in relation to a trustee, means the duty of care required to be exercised by him under Part IA; “stock” includes fully paid-up shares, and, so far as relates to vesting orders made by the court under this Act, includes any fund, annuity or security transferable in books kept by any corporation, company or society, or by instrument of transfer either alone or accompanied by other formalities or otherwise, and any share or interest therein; “transfer”, in relation to stock or securities, includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee; “trust” does not include the duties incident to an estate conveyed by way of mortgage, but with this exception “trust” and “trustee” extend to implied and constructive trusts, and to cases where the trustee has a beneficial interest in the trust property, and to the duties incident to the office of a personal representative, and “trustee” where the context admits includes a personal representative, and “new trustee” includes an additional trustee; “trust corporation” * means the Public Trustee or a corporation either appointed by the court in any particular case to be a trustee, or licensed as a trust company under the Trust Companies Act 2005; “trust for sale”, in relation to land, means an immediate binding trust for sale, whether or not exercisable at the request or with the consent of any person, and with or without power at discretion to postpone the sale; “trustees for sale” means the persons (including a personal representative) holding land on trust for sale.
(a) to any special knowledge or experience that he has or holds himself out as having; and (b) if he acts as trustee in the course of a business or profession, to any special knowledge or experience that may reasonably be expected of a person acting in the course of that kind of business or profession.
*Date of commencement of the Trustees (Amendment) Act 2004 (Act 45 of 2004).
(a) a trustee may make any kind of investment that he could make if he were absolutely entitled to the assets of the trust; and (b) without prejudice to the generality of paragraph (a), a trustee may — (i) invest any funds in his hands, whether at the time in a state of investment or not, in any manner specified in Part I, II or III of the First Schedule in force immediately before 15th December 2004; and (ii) from time to time vary any such investment.
(a) the suitability to the trust of investments of the same kind as any particular investment proposed to be made or retained and of that particular investment as an investment of that kind; and (b) the need for diversification of investments of the trust, in so far as is appropriate to the circumstances of the trust.
A trustee shall not be liable for breach of trust by reason only of his continuing to hold an investment which has ceased to be an investment authorised by the trust instrument or by this Act.
(a) that in making the loan the trustee was acting upon proper advice obtained in accordance with section 6; and (b) that the amount of the loan does not exceed two-third parts of the value of the property as stated in the report made by the person giving proper advice in accordance with section 6.
(a) interest be paid within a specified time not exceeding 10 days after every monthly or other day on which it becomes due; and (b) there be no breach of any covenant by the mortgagor contained in the instrument of mortgage or charge for the maintenance and protection of the property.
(a) for the reconstruction of the company; (b) for the sale of any or any part of the property and undertaking of the company to another company; (c) for the acquisition of the securities of the company, or of control thereof, by another company; (d) for the amalgamation of the company with another company; (e) for the release, modification, or variation of any rights, privileges or liabilities attached to the securities or any of them, in the like manner as if they were entitled to such securities beneficially, with power to accept any securities of any denomination or description of the reconstructed or purchasing or new company in lieu of or in exchange for all or any of the first- mentioned securities.
(a) where they are of the opinion that it is desirable to purchase a dwelling-house for the use of any beneficiary under the trust, purchase a dwelling-house with any trust funds, whether at the time in a state of investment or not; or (b) retain any dwelling-house that forms part of the trust notwithstanding any trust for conversion contained in the instrument creating the trust, and permit the beneficiary to reside in the dwelling-house upon such terms and conditions consistent with the trust and the extent of the interest of the beneficiary as the trustee thinks fit.
(a) be a sufficient discharge to the person paying, transferring or delivering the same; and (b) effectually exonerate him from seeing to the application or being answerable for any loss or misapplication thereof.
(a) accept any property before the time at which it is made transferable or payable; (b) sever and apportion any blended trust funds or property; (c) pay or allow any debt or claim on any evidence that he or they think sufficient; (d) accept any composition or any security for any debt or for any property claimed; (e) allow any time for payment of any debt; or (f) compromise, compound, abandon, submit to arbitration or otherwise settle any debt, account, claim or thing whatever relating to the testator’s or intestate’s estate or to the trust.
No purchaser or mortgagee, paying or advancing money on a sale or mortgage purporting to be made under any trust or power vested in trustees, shall be concerned to see that such money is wanted, or that no more is raised than is wanted, or otherwise as to the application thereof.
(a) insure any property which is subject to the trust against risks of loss or damage due to any event; and (b) pay the premiums out of the trust funds.
(a) that any property specified in the direction is not to be insured; or (b) that any property specified in the direction is not to be insured except on such conditions as may be so specified.
(a) property is held on a bare trust if it is held on trust for — (i) a beneficiary who is of full age and capacity and absolutely entitled to the property subject to the trust; or (ii) beneficiaries each of whom is of full age and capacity and who (taken together) are absolutely entitled to the property subject to the trust; and (b) “trust funds” means any income or capital funds of the trust.
(a) if it was receivable in respect of property held upon trust for sale, shall be held upon the trusts and subject to the powers and provisions applicable to money arising by a sale under such trust; and (b) in any other case, shall be held upon trusts corresponding as nearly as may be with the trusts affecting the property in respect of which it was payable.
(a) agree or ascertain the amount or value thereof or any part thereof in such manner as they may think fit; (b) accept in or towards satisfaction thereof, at the market or current value, or upon any valuation or estimate of value which they may think fit, any authorised investments; (c) allow any deductions for duties, costs, charges and expenses which they may think proper or reasonable; (d) execute any release in respect of the premises so as effectually to discharge all accountable parties from all liability in respect of any matters coming within the scope of such release, without being responsible in any such case for any loss occasioned by any act or thing so done by them if they have discharged the statutory duty of care.
(a) to apply for any stop or other like order upon any securities or other property out of or on which such share or interest or other thing in action as referred to in subsection (1) is derived, payable or charged; or (b) to take any proceedings on account of any act, default or neglect on the part of the persons in whom such securities or other property or any of them or any part thereof are for the time being, or had at any time been, vested, unless required in writing to do so by some person, or the guardian of some person, beneficially interested under the trust, and unless also due provision is made to their satisfaction for payment of the costs of any proceedings required to be taken.
Where an undivided share in the proceeds of sale of land directed to be sold, or in any other property, is subject to a trust, or forms part of the estate of a testator or intestate, the trustees or personal representatives may (without prejudice to the trust for sale affecting the entirety of the land and the powers of the trustees for sale in reference thereto) execute or exercise any trust or power vested in them in relation to such share in conjunction with the persons entitled to or having power in that behalf over the other share or shares, and notwithstanding that any one or more of the trustees or personal representatives may be entitled to or interested in any such other share, either in his or their own right or in a fiduciary capacity.
(a) shall commence as provided by the instrument creating the power or, if the instrument makes no provision as to the commencement of the delegation, on the date of the execution of the instrument by the donor; and (b) shall continue for a period of 18 months or any shorter period provided by the instrument creating the power.
(a) each person (other than himself), if any, who under any instrument creating the trust has power (whether alone or jointly) to appoint a new trustee; and (b) each of the other trustees, if any, but failure to comply with this subsection shall not, in favour of a person dealing with the donee of the power, invalidate any act done or instrument executed by the donee.
(a) in the form set out in the Third Schedule; or (b) in a form to the like effect but expressed to be made under this subsection, shall operate to delegate to the person identified in the form as the single donee of the power, the execution and the exercise of all the trusts, powers and discretions vested in the donor as trustee (either alone or jointly with any other person or persons) under the single trust so identified.
(a) any rent, covenant or agreement reserved by or contained in any lease; (b) any rent, covenant or agreement payable under or contained in any grant made in consideration of a rentcharge; or (c) any indemnity given in respect of any rent, covenant or agreement referred to in paragraph (a)or(b).
(a) satisfies all liabilities under the lease or grant which may have accrued and been claimed, up to the date of any conveyance mentioned in paragraph (i); and (b) where necessary, sets apart a sufficient fund to answer any future claim that may be made in respect of any fixed and ascertained sum which the lessee or grantee agreed to lay out on the property demised or granted, although the period for laying out the same may not have arrived, then and in any such case the personal representative or trustee — (i) may convey the property demised or granted to a purchaser, legatee, devisee, or other person entitled to call for a conveyance thereof; and (ii) thereafter, may distribute the residuary estate of the deceased testator or intestate, or, as the case may be, the trust estate (other than the fund, if any, set apart as referred to in paragraph (b)) to or amongst the persons entitled thereto, without appropriating any part, or any further part, as the case may be, of the estate of the deceased or of the trust estate to meet any future liability under the lease or grant.
“grant” applies to a grant whether the rent is created by limitation, grant, reservation, or otherwise, and includes an agreement for a grant and any instrument giving any such indemnity as mentioned in subsection (1) or varying the liabilities under the grant; “lease” includes an underlease and an agreement for a lease or underlease and any instrument giving any such indemnity as mentioned in subsection (1) or varying the liabilities under the lease; “lessee” and “grantee” include persons respectively deriving title under them.
(a) prejudice the right of any person to follow the property, or any property representing the same, into the hands of any person, other than a purchaser, who may have received it; or (b) free the trustees or personal representatives from any obligation to make searches similar to those which an intending purchaser would be advised to make or obtain.
A trustee or personal representative acting for the purposes of more than one trust or estate shall not, in the absence of fraud, be affected by notice of any instrument, matter, fact or thing in relation to any particular trust or estate if he has obtained notice thereof merely by reason of his acting or having acted for the purposes of another trust or estate.
(a) be chargeable only for money and securities actually received by him notwithstanding his signing any receipt for the sake of conformity; and (b) be answerable and accountable only for his own acts, receipts, neglects or defaults, and not for those of any other trustee, or of any banker, broker or other person with whom any trust money or securities may be deposited, nor for the insufficiency or deficiency of any securities, nor for any other loss, unless the same happens through his own wilful default.
(a) during the infancy of any such person, if his interest so long continues, the trustees may, at their sole discretion, pay to his parent or guardian, if any, or otherwise apply for or towards his maintenance, education or benefit, the whole or such part, if any, of the income of that property as may, in all the circumstances, be reasonable, whether or not there is — (i) any other fund applicable to the same purpose; or (ii) any person bound by law to provide for his maintenance or education; and (b) if such person on attaining the age of 21 years has not a vested interest in such income, the trustees shall thenceforth pay the income of that property and of any accretion thereto under subsection (2) to him, until he either attains a vested interest therein or dies, or until failure of his interest.
(a) if any such person — (i) attains the age of 21 years, or marries under that age, and his interest in such income during his infancy or until his marriage is a vested interest; or (ii) on attaining the age of 21 years or on marriage under that age becomes entitled to the property from which such income arose in fee simple, absolute or determinable, or under a grant issued under the State Lands Act (Cap. 314) or absolutely, the trustees shall hold the accumulations in trust for that person absolutely, and so that the receipt of that person after marriage, and though still an infant, shall be a good discharge; and (b) in any other case the trustees shall, notwithstanding that such person had a vested interest in such income, hold the accumulations as an accretion to the capital of the property from which the accumulations arose, and as one fund with such capital for all purposes, but the trustees may, at any time during the infancy of such person if his interest so long continues, apply those accumulations, or any part thereof, as if they were income arising in the then current year.
(a) upon trust for the principal beneficiary during the trust period or until he, whether before or after the termination of any prior interest, does or attempts to do or suffers any act or thing, or until any event happens, other than an advance under any statutory or express power, whereby, if such income were payable during the trust period to the principal beneficiary absolutely during that period, he would be deprived of the right to receive the same or any part thereof, in any of which cases, as well as on the termination of the trust period, whichever first happens, this trust of such income shall fail or determine; (b) if the trust referred to in paragraph (a) fails or determines during the subsistence of the trust period, then, during the residue of that period, the said income shall be held upon trust for the application thereof for the maintenance or support, or otherwise for the benefit, of all or any one or more exclusively of the other or others of the following persons: (i) the principal beneficiary and his or her wife or husband, if any, and his or her children or more remote issue, if any; or (ii) if there is no wife or husband or issue of the principal beneficiary in existence, the principal beneficiary and the persons who would, if he were actually dead, be entitled to the trust property or the income thereof or to the annuity fund, if any, or arrears of the annuity, as the case may be, as the trustees in their absolute discretion, without being liable to account for the exercise of such discretion, think fit.
(a) the number of trustees thereof shall not in any case exceed 4, and where more than 4 persons are named as such trustees, the 4 first named (who are able and willing to act) shall alone be the trustees, and the other persons named shall not be trustees unless appointed on the occurrence of a vacancy; and (b) the number of the trustees shall not be increased beyond 4.
(a) is dead; (b) remains out of Singapore for more than 12 months; (c) desires to be discharged from all or any of the trusts or powers reposed in or conferred on him; (d) refuses or is unfit to act therein; (e) is incapable of acting therein; or (f) is an infant, then, subject to the restrictions imposed by this Act on the number of trustees — (i) the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or (ii) if there is no such person, or no such person able and willing to act, then the surviving or continuing trustees or trustee for the time being, or the personal representatives of the last surviving or continuing trustee, may, by writing, appoint one or more other persons (whether or not being the persons exercising the power) to be a trustee or trustees in the place of the trustee so deceased, remaining out of Singapore, desiring to be discharged, refusing, or being unfit or being incapable, or being an infant.
(a) the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or (b) if there is no such person, or no such person able and willing to act, then the trustee or trustees for the time being, may, by writing, appoint another person or other persons to be an additional trustee or additional trustees.
(a) the number of trustees may, subject to the restrictions imposed by this Act on the number of trustees, be increased; (b) a separate set of trustees, not exceeding 4, may be appointed for any part of the trust property held on trusts distinct from those relating to any other part or parts of the trust property, notwithstanding that no new trustees or trustee are or is to be appointed for other parts of the trust property, and any existing trustee may be appointed or remain one of such separate set of trustees, or, if only one trustee was originally appointed, then, except as hereinafter provided, one separate trustee may be appointed; (c) it shall not be obligatory, except as hereinafter provided, to appoint more than one new trustee where only one trustee was originally appointed, or to fill up the original number of trustees where more than 2 trustees were originally appointed, but, except where only one trustee was originally appointed, and a sole trustee when appointed will be able to give valid receipts for all capital money, a trustee shall not be discharged from his trust unless there will be either a trust corporation or at least 2 individuals to act as trustees to perform the trust; and (d) any assurance or thing requisite for vesting the trust property, or any part thereof, in a sole trustee, or jointly in the persons who are the trustees, shall be executed or done.
(a) if such trustee by deed declares that he is desirous of being discharged from the trust; and (b) if his co-trustees and such other person, if any, as is empowered to appoint trustees, by deed consent to the discharge of the trustee, and to the vesting in the co-trustees alone of the trust property, the trustee desirous of being discharged shall be deemed to have retired from the trust, and shall, by the deed, be discharged therefrom under this Act, without any new trustee being appointed in his place.
(a) if the deed contains a declaration by the appointor to the effect that any estate or interest in any land subject to the trust, or in any chattel so subject, or the right to recover or receive any debt or other thing in action so subject, shall vest in the persons who by virtue of the deed become or are the trustees for performing the trust, the deed shall operate, without any conveyance or assignment, to vest in those persons as joint tenants and for the purposes of the trust the estate, interest or right to which the declaration relates; and (b) if the deed is made on or after 1st September 1929 and does not contain such a declaration, the deed shall, subject to any express provision to the contrary therein contained, operate as if it had contained such a declaration by the appointor extending to all the estates, interests and rights with respect to which a declaration could have been made.
(a) if the deed contains such a declaration as referred to in subsection (1) by the retiring and continuing trustees, and by the other person, if any, empowered to appoint trustees, the deed shall, without any conveyance or assignment, operate to vest in the continuing trustees alone, as joint tenants, and for the purposes of the trust, the estate, interest or right to which the declaration relates; and (b) if the deed is made on or after 1st September 1929 and does not contain such a declaration, the deed shall, subject to any express provision to the contrary therein contained, operate as if it had contained such a declaration by such persons as referred to in paragraph (a) extending to all the estates, interests and rights with respect to which a declaration could have been made.
(a) to land conveyed by way of mortgage for securing money subject to the trust, except land conveyed on trust for securing debentures or debenture stock; (b) to land held under a lease which contains any covenant, condition or agreement against assignment or disposing of the land without licence or consent, unless, prior to the execution of the deed containing expressly or impliedly the vesting declaration, the requisite licence or consent has been obtained, or unless by virtue of any written law or rule of law, the vesting declaration, express or implied, would not operate as a breach of covenant or give rise to a forfeiture; or (c) to any share, stock, annuity or property which is only transferable in books kept by a company or other body, or in the manner directed by or under any written law.
(a) any function relating to whether or in what way any assets of the trust should be distributed; (b) any power to decide whether any fees or other payment due to be made out of the trust funds should be made out of income or capital; (c) any power to appoint a person to be a trustee of the trust; or (d) any power conferred by any other written law or the trust instrument which permits the trustees to delegate any of their functions or to appoint a person to act as a nominee or custodian.
(a) any function relating to carrying out a decision that the trustees have taken; (b) any function relating to the investment of assets subject to the trust (including, in the case of land held as an investment, managing the land and creating or disposing of an interest in the land); and (c) any function relating to the raising of funds for the trust otherwise than by means of profits of a trade which is an integral part of carrying out the trust’s charitable purpose.
(a) the trade is exercised in the course of the actual carrying out of a primary purpose of the trust; or (b) the work in connection with the trade is mainly carried out by beneficiaries of the trust.
A person who is authorised under section 41B to exercise the general power of investment shall be subject to the duties under section 5 in relation to that power.
(a) a term permitting the agent to appoint a substitute; (b) a term restricting the liability of the agent or his substitute to the trustees or any beneficiary; and (c) a term permitting the agent to act in circumstances capable of giving rise to a conflict of interest.
(a) the trustees have provided that person with a statement that gives guidance as to how the functions should be exercised (referred to in this Act as a policy statement); and (b) the agreement under which the agent is to act includes a term to the effect that he will secure compliance with — (i) the policy statement; or (ii) if the policy statement is revised or replaced under section 41M, the revised or replacement policy statement.
(a) the investment of assets subject to the trust; (b) the acquisition of property which is to be subject to the trust; and (c) the management of property which is subject to the trust and the disposal of, or the creation or disposal of an interest in, such property.
(a) appoint a person to act as their nominee in relation to such of the assets of the trust as they may determine (other than settled land); and (b) take such steps as are necessary to secure that those assets are vested in a person so appointed.
(a) the person carries on a business which consists of or includes acting as a nominee or custodian; or (b) the person is a body corporate which is controlled by the trustees.
(a) by means of the holding of shares or the possession of voting power in or in relation to that or any other body corporate; or (b) by virtue of any powers conferred by the articles of association or other document regulating that or any other body corporate, that the affairs of the first-mentioned body corporate are conducted in accordance with the wishes of the trustees.
(a) one of their number, if that one is a trust corporation; or (b) 2 or more of their number, if they are to act as joint nominees or joint custodians.
(a) appointed to act as their custodian (whether under section 41H or 41I or any other power); or (b) authorised to exercise functions as their agent (whether under section 41B or any other power).
(a) appointed to act as their nominee (whether under section 41G or any other power); or (b) authorised to exercise functions as their agent (whether under section 41B or any other power).
(a) a term permitting the nominee or custodian to appoint a substitute; (b) a term restricting the liability of the nominee or custodian or his substitute to the trustees or to any beneficiary; and (c) a term permitting the nominee or custodian to act in circumstances capable of giving rise to a conflict of interest.
(a) authorised a person to exercise functions as their agent; or (b) appointed a person to act as a nominee or custodian.
(a) authorised a person to exercise functions as their agent; or (b) appointed a person to act as a nominee or custodian.
(a) to keep under review the arrangements under which the agent, nominee or custodian acts and the manner in which such arrangements are being put into effect; (b) if circumstances make it appropriate to do so, to consider whether there is a need to exercise any power of intervention that they have; and (c) if they consider that there is a need to do so, to exercise the power of intervention.
(a) a duty to consider whether there is any need to revise or replace the policy statement made for the purposes of section 41F; (b) if the trustees consider that there is a need to revise or replace the policy statement, a duty to do so; and (c) a duty to assess whether the policy statement (as it has effect for the time being) is being complied with.
(a) a power to give directions to the agent, nominee or custodian; and (b) a power to revoke the authorisation or appointment of the agent, nominee or custodian.
(a) entering into the arrangements under which the person acts as agent, nominee or custodian; or (b) carrying out his duties under section 41M.
(a) when agreeing to that term; or (b) when carrying out his duties under section 41M in so far as they relate to the use of the substitute.
(a) in authorising a person to exercise a function of theirs as an agent; or (b) in appointing a person to act as a nominee or custodian, shall not invalidate the authorisation or appointment.
(a) services provided to or on behalf of trusts, whenever created; or (b) expenses incurred on or after 15th December 2004 on behalf of trusts, whenever created.
(a) section 57(4) of the Probate and Administration Act (Cap. 251) (Administration of assets); or (b) section 10 of the Wills Act (Cap. 352) (Gifts to attesting witness or to wife or husband of attesting witness to be void), in relation to any death occurring before 15th December 2004.
(a) there is a provision in the trust instrument entitling him to receive payment out of trust funds in respect of services provided by him to or on behalf of the trust; and (b) the trustee is a trust corporation or is acting in a professional capacity.
(a) if he is not a sole trustee; and (b) to the extent that a majority of the other trustees have agreed that it should apply to him.
(a) section 57(4) of the Probate and Administration Act (Cap. 251) (Administration of assets); and (b) section 10 of the Wills Act (Cap. 352) (Gifts to attesting witness or to wife or husband of attesting witness to be void).
(a) the management or administration of trusts generally or a particular kind of trust; or (b) any particular aspect of the management or administration of trusts generally or a particular kind of trust, and the services he provides to or on behalf of the trust fall within that description.
(a) is not a trust corporation; and (b) does not act in a professional capacity.
(a) acts in a professional capacity; and (b) is not a trust corporation or a sole trustee, shall be entitled to receive reasonable remuneration out of the trust funds for any services that he provides to or on behalf of the trust if each other trustee has agreed in writing that he may be remunerated for the services.
(a) by the trust instrument; or (b) by any written law.
(a) to exercise functions as an agent of the trustees; or (b) to act as a nominee or custodian, as it applies to any other trustee.
(a) shall be entitled to be reimbursed from the trust funds; or (b) may pay out of the trust funds, reasonable expenses properly incurred by him when acting on behalf of the trust.
(a) to exercise functions as an agent of the trustees; or (b) to act as a nominee or custodian, as it applies to any other trustee.
(a) authorised to exercise functions as an agent of the trustees; or (b) appointed to act as a nominee or custodian.
(a) he is engaged on terms entitling him to be remunerated for those services; and (b) the amount does not exceed such remuneration as is reasonable in the circumstances for the provision of those services by him to or on behalf of that trust.
(a) sentenced to a term of imprisonment; (b) found to lack capacity (within the meaning of the Mental Capacity Act 2008) to exercise his functions as trustee; [21/2008 wef 01/03/2010] (c) a bankrupt; or (d) a corporation which is in liquidation or has been dissolved.
(a) give power to appoint an executor or administrator; (b) prevent a donee of a lasting power of attorney created by a trustee from acting for the trustee when such trustee lacks capacity to exercise his functions as trustee.
The court may allow any trustee, other than the Public Trustee, such remuneration for his services as trustee as the court may think fit.
Every trustee appointed by a court of competent jurisdiction shall, as well before as after the trust property becomes by law, or by assurance, or otherwise, vested in him, have the same powers, authorities and discretions, and may in all respects act as if he had been originally appointed a trustee by the instrument, if any, creating the trust.
(a) where the court appoints or has appointed a trustee, or where a trustee has been appointed out of court under any statutory or express power; (b) where a trustee entitled to or possessed of any land or interest therein, whether by way of mortgage or otherwise, or entitled to a contingent right therein, either solely or jointly with any other person — (i) is under disability; (ii) is out of the jurisdiction of the court; or (iii) cannot be found, or, being a corporation, has been dissolved; (c) where it is uncertain who was the survivor of 2 or more trustees jointly entitled to or possessed of any interest in land; (d) where it is uncertain whether the last trustee known to have been entitled to or possessed of any interest in land is living or dead; (e) where there is no personal representative of a deceased trustee who was entitled to or possessed of any interest in land, or where it is uncertain who is the personal representative of a deceased trustee who was entitled to or possessed of any interest in land; (f) where there is no personal representative of a deceased mortgagee who was entitled to or possessed of any interest in land, or where it is uncertain who is the personal representative of a deceased mortgagee who was entitled to or possessed of any interest in land, or where it is uncertain whether any mortgagee entitled to or possessed of any interest in land is living or dead, or where any mortgagee entitled to or possessed of any interest in land is out of the jurisdiction of the court or cannot be found or being a corporation has been dissolved; (g) where a trustee jointly or solely entitled to or possessed of any interest in land, or entitled to a contingent right therein, has been required, by or on behalf of a person entitled to require a conveyance of the land or interest or a release of the right, to convey the land or interest or to release the right, and has wilfully refused or neglected to convey the land or interest or release the right for 28 days after the date of the requirement; or (h) where land or any interest therein is vested in a trustee whether by way of mortgage or otherwise and it appears to the court to be expedient, the court may make an order (referred to in this Act as a vesting order) vesting the land or interest therein in any such person in any such manner and for any such estate or interest as the court may direct, or releasing or disposing of the contingent right to such person as the court may direct.
(a) releasing the land or interest therein from the contingent right; or (b) vesting in any person the estate or interest to or of which the unborn person or class of unborn persons would, on coming into existence, be entitled or possessed in the land.
Where any person entitled to or possessed of any interest in land, or entitled to a contingent right in land, by way of security for money, is an infant, the court may make an order vesting or releasing or disposing of the interest in the land or the right in the like manner as in the case of a trustee under disability.
(a) that any of the parties to the action are trustees of any interest in the land or any part thereof within the meaning of this Act; or (b) that the interests of unborn persons who might claim under any party to the action, or under the will or voluntary settlement of any deceased person who was during his lifetime a party to the contract or transaction concerning which the judgment is given, are the interests of persons who, on coming into existence, would be trustees within the meaning of this Act, and thereupon the court may make a vesting order relating to the rights of those persons, born and unborn, as if they had been trustees.
(a) in the case of a vesting order consequential on the appointment of a trustee, have the same effect — (i) as if the persons who before the appointment were the trustees, if any, had duly executed all proper conveyances of the land for such estate or interest as the court directs; or (ii) if there is no such person, or no such person of full capacity, as if such person had existed and been of full capacity and had duly executed all proper conveyances of the land for such estate or interest as the court directs; and (b) in every other case have the same effect as if the trustee, mortgagee or other person or description or class of persons to whose rights or supposed rights the relevant provisions respectively relate had been an ascertained and existing person of full capacity, and had executed a conveyance or release to the effect intended by the order.
In all cases where a vesting order can be made under this Act, the court may, if it is more convenient, appoint a person to convey the land or any interest therein or release the contingent right, and a conveyance or release by that person in conformity with the order shall have the same effect as an order under the appropriate provision.
(a) where the court appoints or has appointed a trustee, or where a trustee has been appointed out of court under any statutory or express power; (b) where a trustee entitled, whether by way of mortgage or otherwise, alone or jointly with another person, to stock or to a thing in action — (i) is under disability; (ii) is out of the jurisdiction of the court; (iii) cannot be found, or, being a corporation, has been dissolved; (iv) neglects or refuses to transfer stock or receive the dividends or income thereof, or to sue for or recover a thing in action, according to the direction of the person absolutely entitled thereto for 28 days next after a request in writing has been made to him by the person so entitled; or (v) neglects or refuses to transfer stock or receive the dividends or income thereof, or to sue for or recover a thing in action for 28 days next after an order of the court for that purpose has been served on him; (c) where it is uncertain whether a trustee entitled alone or jointly with another person to stock or to a thing in action is alive or dead; (d) where stock is standing in the name of a deceased person whose personal representative is under disability; or (e) where stock or a thing in action is vested in a trustee whether by way of mortgage or otherwise and it appears to the court to be expedient, the court may make an order vesting the right to transfer or call for a transfer of stock, or to receive the dividends or income thereof, or to sue for or recover the thing in action, in any such person as the court may appoint.
The powers conferred by this Act as to vesting orders may be exercised for vesting any interest in land, stock or thing in action in any trustee of a charity or society over which the court would have jurisdiction upon action duly instituted, whether the appointment of the trustee was made by instrument under a power or by the court under its general or statutory jurisdiction.
(a) appointing a person to convey the property; or (b) in the case of stock, or a thing in action, vesting in any person the right to transfer or call for a transfer of the stock, or to receive the dividends or income thereof, or to sue for and recover such thing in action, upon such terms as the court may think fit.
(a) the personal incapacity of a trustee or mortgagee; (b) that a trustee or mortgagee or the personal representative of or other person deriving title under a trustee or mortgagee is out of the jurisdiction of the court, or cannot be found, or being a corporation has been dissolved; (c) that it is uncertain which of 2 or more trustees, or which of 2 or more persons interested in a mortgage, was the survivor; (d) that it is uncertain whether the last trustee or the personal representative of or other person deriving title under a trustee or mortgagee, or the last surviving person interested in a mortgage is living or dead; or (e) that any trustee or mortgagee has died intestate without leaving a person beneficially interested under the intestacy or has died and it is not known who is his personal representative or the person interested, the fact that the order has been so made shall be conclusive evidence of the matter so alleged in any court upon any question as to the validity of the order.
(a) by order confer upon the trustees, either generally or in any particular instance, the necessary power for the purpose, on such terms, and subject to such provisions and conditions, if any, as the court may think fit; and (b) direct in what manner any money authorised to be expended, and the costs of any transaction, are to be paid or borne as between capital and income.
Where in any action the court is satisfied that diligent search has been made for any person who, in the character of trustee, is made a defendant in any action, to serve him with a process of the court, and that he cannot be found, the court may hear and determine the action and give judgment therein against that person in his character of a trustee as if he had been duly served, or had entered an appearance in the action, and had also appeared by his solicitor at the hearing, but without prejudice to any interest he may have in the matters in question in the action in any other character.
The court may order the costs and expenses of and incident to any application for an order appointing a new trustee, or for a vesting order, or of and incident to any such order, or any conveyance or transfer in pursuance thereof, to be raised and paid out of the property in respect whereof the same is made, or out of the income thereof, or to be borne and paid in such manner and by such persons as to the court may seem just.
If it appears to the court that a trustee, whether appointed by the court or otherwise, is or may be personally liable for any breach of trust, whether the transaction alleged to be a breach of trust occurred before, on or after 1st September 1929, but has acted honestly and reasonably, and ought fairly to be excused for the breach of trust and for omitting to obtain the directions of the court in the matter in which he committed the breach, then the court may relieve him either wholly or partly from personal liability for the same.
(a) may declare that he undertakes to administer the property subject to such trust provisionally; and (b) shall publish notice thereof in the Gazette and on the publication in the Gazette of the notice all property, movable and immovable of whatever description, subject to such trust shall vest in the Public Trustee as provisional trustee thereof.
(a) become a body corporate by the name described in the certificate; (b) have perpetual succession and a common seal; (c) have power to sue and be sued in such corporate name; and (d) subject to the conditions and directions contained in the certificate, have power to acquire, purchase, take, hold and enjoy movable and immovable property and by instruments under the common seal to sell, convey, assign, surrender and yield up, mortgage, charge, demise, reassign, transfer or otherwise dispose of movable and immovable property now or hereafter belonging to, or held for the benefit of, such body or association of persons, in such and the like manner, and subject to such restrictions and provisions, as the trustees might do, without such incorporation, for the purposes of such body or association of persons.
(a) chargeable for such property as shall come into their hands; and (b) answerable and accountable for their own acts, receipts, neglects and defaults, and for the due administration of the body or association of persons and its property, in the same manner and to the same extent as if no such incorporation had been effected.
(a) binding upon and performed or observed by the trustees as trusts of the body or association of persons; and (b) enforceable by the Attorney-General or other public officer or persons interested under any written law for the time being in force.
After the incorporation of the trustees of any body or association of persons under this Part, every donation, gift and disposition of land, or any interest therein, theretofore lawfully made (but not having actually taken effect) or hereafter lawfully made by deed, will or otherwise to or in favour of such body or association of persons, or the trustees thereof, or otherwise for the purposes thereof, shall take effect as if the same had been made to, or in favour of, the incorporated body or otherwise for the like purposes.
Every contract made or entered into by the trustees of a body or association of persons which would be valid and binding according to the constitution, settlement or rules and regulations of that body or association of persons if no incorporation under this Part had taken place, shall be valid and binding although the same shall not have been made or entered into under the common seal of the trustees.
Any person who makes or permits to be made any transfer or payment bona fide, in reliance on any instrument to which the common seal of any body corporate created under this Part is affixed, shall be indemnified and protected in respect of such transfer or payment, notwithstanding any defect or circumstance affecting the execution of the instrument.
(a) an account of the gross income arising from any endowment or which ought to have arisen therefrom during the year ending on 31st December immediately preceding, or upon such other day as may have been appointed for this purpose by the Public Trustee; (b) an account of all balances in hand at the commencement of the year and of all moneys received during the same year on account of such body or association of persons; (c) an account for the same period of all payments; and (d) an account of all moneys owing to or from such body or association of persons, so far as conveniently may be.
(a) on the person in respect of whom the question arose; (b) upon all members of the body corporate referred to in subsection (1); (c) upon that person interested in the question; and (d) upon any persons to whom notice of the hearing has been given in accordance with any direction of the court.
If any person in any return, account or other documents required by any of the provisions of this Part to be filed with the Public Trustee, wilfully makes a statement which is false in any material particular, knowing it to be false, he shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000 or to imprisonment for a term not exceeding 2 years or to both.
If any trustee fails to comply or to take all reasonable steps to secure compliance with any of the provisions of this Part which requires the lodging or filing with the Public Trustee of any return, account or other documents or the giving of notice to him of any matter, he shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $500 and, in the case of a continuing offence, to a further fine not exceeding $50 for every day during which the offence continues after conviction.
“effective controller”, in relation to a relevant trust party of a relevant trust, means — (a) the individual who ultimately owns or controls the relevant trust party; or (b) the individual on whose behalf a transaction is being conducted by the relevant trust party in the relevant trust party’s capacity as such, and includes an individual who exercises ultimate effective control over the relevant trust party; “FATF ” means the intergovernmental body known as the Financial Action Task Force; “FATF Recommendations” means the recommendations issued by the FATF from time to time relating to the prevention of money laundering and the financing of terrorism; “Global Forum” means the international body known as the Global Forum on Transparency and Exchange of Information for Tax Purposes; “protector”, in relation to a trust, means a person who, under the instrument creating the express trust, has any control over how a trustee of the trust administers the trust; “relevant trust” means a trust to which this Part applies; “relevant trust party”, in relation to a trust, means all or any of the following: (a) a settlor; (b) a trustee; (c) a protector; (d) a beneficiary; (e) a person who has any power over the disposition of any property that is subject to the trust.
(a) that is governed by the law of Singapore; (b) that is administered in Singapore; or (c) in respect of which any of the trustees is resident in Singapore.
(a) a trust is administered in Singapore if the control and management of the trust is exercised in Singapore; and (b) a trustee is resident in Singapore if — (i) the trustee, being an individual, is ordinarily resident in Singapore; or (ii) the trustee is incorporated, formed or established in Singapore.
(a) to give effect to the FATF Recommendations concerning transparency and beneficial ownership; and (b) to give effect to the Global Forum requirements concerning information on ownership and identity, the keeping of accounting records, and access to such information and records.
(a) provide that a trustee of a relevant trust must obtain information on the identity and particulars of each person who is — (i) a relevant trust party of the relevant trust or an effective controller of the relevant trust party; and (ii) an agent of, or a service provider to, the trust, including any investment adviser or manager, accountant or tax adviser; (b) provide that a trustee of a relevant trust must maintain and keep up‑to‑date, for such period as may be prescribed, a record of the identities and particulars of the persons mentioned in paragraph (a)(i) and (ii); (c) provide that a trustee of a relevant trust must maintain and keep up‑to‑date, for such period as may be prescribed, such accounting records relating to the relevant trust, and such information on the assets of the relevant trust, as may be prescribed; (d) prescribe the measures that must be taken by a trustee of a relevant trust for or in respect of all or any of the matters in paragraphs (a), (b) and (c); (e) provide that a trustee of a relevant trust must when acting for the trust in any prescribed transaction, disclose to any other party to the transaction the fact that the trustee is acting for the trust; (f) for the purposes of section 83(2), set out the circumstances in which — (i) an individual is considered as ultimately owning a relevant trust party through a chain of ownership; and (ii) an individual is considered as ultimately controlling a relevant trust party, or as exercising ultimate effective control of a relevant trust party, through indirect control; (g) provide that any contravention of any provision of the regulations shall be an offence punishable with a fine not exceeding $1,000; (h) prescribe such matters as may be required or permitted by this Part to be prescribed; and (i) contain such transitional and other supplementary and incidental provisions as appear to the Minister to be appropriate.
For the avoidance of doubt, every settlement or disposition of property made or caused to be made on trust, before, on or after 15th December 2004, with intent to defraud creditors, shall be voidable at the instance of any person thereby prejudiced, in accordance with section 73B of the Conveyancing and Law of Property Act (Cap. 61).
(a) a transaction at an undervalue as defined in section 98 (read with sections 100 and 101) of the Bankruptcy Act (Cap. 20); or (b) an unfair preference as defined in section 99 (read with sections 100 and 101) of the Bankruptcy Act, shall be subject to the respective sections, as the case may be.
The income arising from a trust may be accumulated for such period as is allowed under section 31 of the Civil Law Act (Cap. 43).
For the purposes of the rule against perpetuities, the provisions of sections 32, 33 and 34 of the Civil Law Act shall apply to trusts created on or after 15th December 2004.
(a) the law applicable in Singapore; (b) the law of his domicile or nationality; or (c) the proper law of the transfer.
(a) does not apply if, at the time of the creation of the trust or the transfer of the property to be held on trust, the person creating the trust or transferring the property is a citizen of Singapore or is domiciled in Singapore; and (b) applies in relation to a trust only if the trust is expressed to be governed by Singapore law and the trustees are resident in Singapore.
(a) when exercising the general power of investment or any other power of investment, however conferred; or (b) when carrying out any duty imposed on him by this Act in relation to the investment of trust funds.
(a) when exercising any power to acquire land, however conferred; or (b) when exercising any power in relation to land acquired under a power mentioned in sub‑paragraph (a).
(a) when entering into arrangements under which a person is authorised under section 41B to exercise functions as an agent; (b) when entering into arrangements under which a person is appointed under section 41G to act as a nominee; (c) when entering into arrangements under which a person is appointed under section 41H or 41I to act as a custodian; (d) when entering into arrangements under which, under any other power, however conferred, a person is authorised to exercise functions as an agent or is appointed to act as a nominee or custodian; or (e) when carrying out his duties under section 41M (Review of agents, nominees and custodians, etc.).
(a) selecting the person who is to act; (b) determining any terms on which he is to act; and (c) if the person is being authorised to exercise asset management functions, the preparation of a policy statement under section 41F.
(a) when exercising the power under section 16 to do any of the things referred to in that section; or (b) when exercising any corresponding power, however conferred.
(a) when exercising the power under section 21 to insure property; or (b) when exercising any corresponding power, however conferred.
(a) when exercising the power under section 24(1) or (4) to do any of the things referred to therein; or (b) when exercising any corresponding power, however conferred.
The objects of the body or association of persons, and the rules and regulations of the same, together with the date of, and parties to every deed, will or other instrument (if any) creating, constituting or regulating the same.
A statement and short description of the land, or interest in land, which at the date of application is possessed by, or belonging to, or held on behalf of such body or association of persons.
The names, residences and descriptions of the trustees of such body or association of persons.
The proposed title of the body corporate, of which title the words “trustees” and “registered” shall form part.
The proposed device of the common seal.
The regulations for the custody and use of the common seal.
THIS GENERAL TRUSTEE POWER OF ATTORNEY is made on [date] by [name of one donor] of [address of donor] as trustee of [name or details of one trust]. I appoint [name of one donee] of [address of donee] to be my attorney [if desired, the date on which the delegation commences or the period for which it continues (or both)] in accordance with section 27(5) of the Trustees Act (Cap. 337). [To be executed as a deed].
Notes:—Unless otherwise stated, the abbreviations used in the references to other Acts and statutory provisions are references to the following Acts and statutory provisions. The references are provided for convenience and are not part of the Act:
This Legislative History is provided for the convenience of users of the Trustees Act. It is not part of the Act.
Date of First Reading : 26 October 1966 (Bill No. 48/66 published on 8 November 1966) Date of Second and Third Readings : 29 June 1967 Date of commencement : 15 July 1967
Date of First Reading : 5 December 1966 (Bill No. 58/66 published on 12 December 1966) Date of Second Reading : 21 December 1966 Date Committed to Select Committee : 7 December 1967 Date of Third Reading : 21 December 1967 Date of commencement : 29 December 1967
Date of First Reading : 22 July 1970 (Bill No. 31/70 published on 27 July 1970) Date of Second and Third Readings : 2 September 1970 Date of commencement : 30 October 1970
Date of operation : 1 March 1971
Date of First Reading : 17 March 1975 (Bill No. 19/75 published on 18 March 1975) Date of Second and Third Readings : 27 March 1975 Date of commencement : 25 April 1975
Date of First Reading : 31 January 1978 (Bill No. 3/78 published on 3 February 1978) Date of Second and Third Readings : 17 February 1978 Date of commencement : 10 March 1978
Date of First Reading : 27 July 1982 (Bill No. 11/82 published on 4 August 1982) Date of Second and Third Readings : 31 August 1982 Date of commencement : 1 October 1982
Date of operation : 30 March 1987
(Consequential amendments made by) Date of First Reading : : 13 March 1987 (Bill No. 7/87 published on 16 March 1987) Date of Second and Third Readings : 26 March 1987 Date of commencement : 10 April 1987
Date of First Reading : 6 October 1989 (Bill No. 40/89 published on 7 October 1989) Date of Second and Third Readings : 30 November 1989 Date of commencement : 5 January 1990
(Consequential amendments made by) Date of First Reading : 27 February 1991 (Bill No. 11/91 published on 28 February 1991) Date of Second Reading : 28 June 1991 Date Committed to Select Committee : Parl. 3 of 1991 presented to Parliament on 17 June 1991 Date of Third Reading : 28 June 1991 Date of commencement : 30 August 1991
Date of First Reading : 27 February 1992 (Bill No. 18/92 published on 28 February 1992) Date of Second and Third Readings : 29 May 1992 Date of commencement : 26 June 1992
Date of commencement : 15 May 1996
Date of First Reading : 11 July 1997 (Bill No. 6/97 published on 12 July 1997) Date of Second and Third Readings : 25 August 1997 Date of commencement : 1 October 1997 (except section 3)
Date of commencement : 23 January 1998
(Consequential amendments made to Act by) Date of First Reading : 31 July 1998 (Bill No. 34/1998 published on 1 August 1998) Date of Second and Third Readings : 12 October 1998 Date of commencement : 16 November 1998 (Transfer date)
Date of commencement : 16 July 1999
Date of operation : 1 August 1999
Date of commencement : 5 July 2000
(Consequential amendments made by) Date of First Reading : 22 May 2000 (Bill No. 17/2000 published on 23 May 2000) Date of Second and Third Readings : 3 July 2000 Date of commencement : 1 August 2000
(Consequential amendments made by) Date of First Reading : 5 March 2001 (Bill No. 17/2001 published on 6 March 2001) Date of Second and Third Readings : 19 April 2001 Date of commencement : 1 June 2001
(Consequential amendments made by) Date of First Reading : 25 September 2001 (Bill No. 33/2001 published on 26 September 2001) Date of Second and Third Readings : 5 October 2001 Date of commencement : 1 July 2002 (item (13) of Fourth Schedule)
(Consequential amendments made to Act by) Date of First Reading : 31 October 2002 (Bill No. 40/2002 published on 1 November 2002) Date of Second and Third Readings : 25 November 2002 Date of commencement : 1 January 2003
Date of First Reading : 21 September 2004 (Bill No. 43/2004 published on 22 September 2004) Date of Second and Third Readings : 19 October 2004 Date of commencement : 15 December 2004
(G.N. No. S 340/2012 — Rectification Order) Date of operation : 31 July 2005
Date of First Reading : 17 October 2005 (Bill No. 30/2005 published on 18 October 2005) Date of Second and Third Readings : 21 November 2005 Date of commencement : 1 January 2006
Date of First Reading : 25 January 2005 (Bill No. 1/2005 published on 26 January 2005) Date of Second and Third Readings : 18 February 2005 Date of commencement : 1 February 2006
(Consequential amendments made to Act by) Date of First Reading : 21 July 2008 (Bill No. 11/2008 published on 22 July 2008) Date of Second and Third Readings : 15 September 2008 Date of commencement : 1 March 2010
(Consequential amendments made to Act by) Date of First Reading : 21 July 2008 (Bill No. 13/2008 published on 22 July 2008) Date of Second and Third Readings : 15 September 2008 Date of commencement : 1 March 2010
Date of First Reading : 21 November 2011 (Bill No. 21/2012 published on 21 November 2011) Date of Second and Third Readings : 18 January 2012 Date of commencement : 1 March 2012
Date of First Reading : 8 September 2014 (Bill No. 25/2014) Date of Second and Third Readings : 8 October 2015 Date of commencement : 3 January 2016
Date of First Reading : 14 April 2016 (Bill No. 15/2016 published on 14 April 2016) Date of Second and Third Readings : 9 May 2016 Date of commencement : 1 July 2016
Date of First Reading : 28 February 2017 (Bill No. 12/2017 published on 28 February 2017) Date of Second and Third Readings : 10 March 2017 Date of commencement : 31 March 2017
The following provisions in the 1999 Revised Edition of the Trustees Act have been renumbered by the Law Revision Commissioners in this 2005 Revised Edition. This Comparative Table is provided for the convenience of users. It is not part of the Trustees Act.
The following provisions in the 1985 Revised Edition of the Trustees Act were renumbered by the Law Revision Commissioners in the 1999 Revised Edition. This Comparative Table is provided for the convenience of users. It is not part of the Trustees Act.
