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Trustees Act 1967. 2020 REVISED EDITION. This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021. An Act relating to trustees. [15 July 1967] Singapore Statutes Online is provided by the Legislation Division of the Singapore Attorney-General's Chambers.
Jul 31, 2005 · An Act relating to trustees. [15th July 1967] Singapore Statutes Online is provided by the Legislation Division of the Singapore Attorney-General's Chambers.
Actions. Trust Companies Act 2005. 2020 REVISED EDITION. This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021. An Act to provide for the licensing and regulation of trust companies and for matters connected therewith. [1 February 2006]
in accordance with whose directions, instructions or wishes the directors of the licensed trust company are accustomed to act by reason only that they act on advice given by the person in the person’s professional capacity.
LICENSING OF TRUST COMPANIES. Restriction on carrying on trust business. 3.—. (1) Subject to subsection (3), a person must not carry on any trust business or hold himself, herself or itself out as carrying on any trust business in or from within Singapore unless that person is a licensed trust company.
Aug 7, 2020 · The Trustees Act specifically confers certain powers on the trustee, but these powers only apply if they are not contrary to the terms of the trust instrument. They include (non-exhaustively) the power to invest, insure, maintain minors, and advance the benefit of beneficiaries.
The proposed amendments to the Trustees Act further underline Singapore’s commitment as a responsible member of the international community to global efforts in countering money laundering, terrorism financing and tax evasion.
In Singapore, Trust law is governed by the Trustees Act (Cap 337). For example, many ex-pats and high-net-worth individuals set up trust funds as investment portals managed by wealth and asset managers for their children.
LTCs are able to act as trustees of express trusts, provide services in relation to the creation of an express trust, as well as provide trust administration services. You may wish to refer to MAS’ directory of financial institutions for a list of LTCs in Singapore.
Statutory Paper. Record Reference Number: S. 17 of 2000. Record Title: Trustees Act (Chapter 337) Record Date: 11/01/2000. Presented By: Ministry of Law. Conditions Governing Access: You may download the contents for private research use only.
