Article 46 - Powers of Trustee
(1) Subject to the
Terms of the Trust and duties under these Regulations, a Trustee will in relation to the Trust Property have:
(A) all the same powers as a natural
(B) any other powers appropriate to achieve the proper investment, management, and distribution of
Trust Property; and
(C) any other powers conferred by these
Trustee must exercise its powers only in the interest of the Beneficiaries and in furtherance and support of the purposes of the Trust and in accordance with the Terms of the Trust.
Trustee may apply to the QFC Court for an opinion, advice or direction on any question regarding the management or administration of the Trust Property, such application to be served upon, or the hearing to be attended by, all Persons interested in such application, or such of them as the QFC Court thinks expedient.
(B) If the
Trustee acts upon the opinion, advice or direction given by the QFC Court, it is taken to have discharged its duty as a Trustee with regards to the subject matter of such application. However, these Regulations do not apply if the Trustee acted fraudulently or made any misrepresentations in obtaining such opinion, advice or direction.
(C) The costs of such application will be subject to the discretion of the
|Amended (as from 24th December 2017).|