Article 26 – Distribution of Property
(1) Without prejudice to the powers of the
QFC Court under Article 26(3), on the termination of the Trust, the Trustee must distribute the Trust Property to the Persons entitled to such Property within a reasonable time and in accordance with the Terms of the Trust.
Trustee may retain sufficient assets or obtain satisfactory security to make reasonable provision for liabilities, whether existing, future, contingent or otherwise, before distributing the Trust Property under Article 26(1).
QFC Court may, on the termination of a Trust or at any time thereafter, upon an application made by a Trustee, any Beneficiary or any Interested Person:
(A) require the
Trustee to distribute the Trust Property;
(B) direct the
Trustee not to distribute the Trust Property; or
(C) make such other order as it thinks fit.
|Amended (as from 24th December 2017).|