Article 15 – Place of administration
Terms of the Trust designating the place of administration are valid and conclusive if:
Trustee's principal place of business is located in or a Trustee is a resident of the designated place of administration; or
(B) all or part of the administration occurs in the designated place of administration.
Trustee is under a continuing duty to administer the Trust at a place appropriate to its purposes, its administration, and the interests of the Beneficiaries or in furtherance of its purposes and in accordance with the Terms of the Trust.
(3) Without precluding the right of the
QFC Court to order, approve, or disapprove a transfer in furtherance of the duty prescribed in Article 15(2), the Trustee may transfer the Trust's place of administration to another jurisdiction outside the QFC.
(4) In connection with a transfer of the
Trust's place of administration, the Trustee may transfer some or all of the Trust Property to a successor Trustee designated in the Terms of the Trust.
|Amended (as from 24th December 2017).|