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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]
67.—. (1) Subject to subsections (2) and (3), where a corporation or body corporate is convicted of an offence under this Act, the penalty that the court may impose is a fine not exceeding 2 times the maximum amount that the court could, but for this subsection, impose as a fine for that offence.
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.
In Singapore, certain powers are conferred upon trustees by the Trustees Act. One of the reasons why we keep emphasizing the importance of having a will properly drafted is because a will has to be properly written to give the trustee the powers he may foreseeably need.
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.
Summary of changes recommended In summary, we recommend changes to the Trustees Act: (a) to introduce an objective standard of care that is applicable to a number of prescribed functions carried out by trustees; (b) to permit trustees to employ nominees and custodians, who are in the business of providing such services, to hold trust property; ...
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.
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.
