Article 11 – Matters determined by Governing Law
(1) Subject to Article 11(2), all matters arising in regard to a
Trust which is for the time being governed by the laws of the QFC or in regard to any disposition of Property upon the Trust will be determined in accordance with the laws of the QFC and without reference to any Foreign Law.
(2) Subject to Articles 12, 13 and 14, Article 11(1) will:
(A) not validate any disposition of
Property which is neither owned by the Settlor nor is the subject of a power in that behalf vested in the Settlor;
(B) not validate any
Trust or disposition of immovable Property situated in a jurisdiction in which such Trust or disposition is invalid according to the laws of such jurisdiction;
(C) not validate any testamentary
Trust or disposition which is invalid according to the laws of the testator's last domicile;
(D) not affect the recognition of
Foreign Laws in determining whether the Settlor is or was the owner of the settled Property or is or was the holder of a power to dispose of such Property;
(E) not affect the recognition of the laws of its place of incorporation in relation to the capacity of a corporation; and
(F) not affect the recognition of
Foreign Laws prescribing generally, without reference to the existence or Terms of the Trust, the formalities for the disposition of Property.
|Amended (as from 24th December 2017).|