‹ Schedule 1 — Fines for Contraventions Enactment Notice › Trust Regulations 2007 Click here to view earlier versions of Trust Regulations. QFC Reg No 12 – QFC Trust Regulations Enactment Notice Part 1: Introduction Article 1 - Citation Article 2 - Application Article 3 - Commencement Article 4 - Language Article 5 - Interpretation Part 2: General Article 6 - Power of QFC Authority and QFC Regulatory Authority to make rules Article 7 - Default and mandatory rules Article 8 - Common law and principles of equity Part 3: Choice of Governing Law; Place of Administration Article 9 - Governing Law Article 10 - Provision for change of Governing Law Article 11 - Matters determined by Governing Law Article 12 - Limitations in Foreign Law Article 13 - Heirship Rights Article 14 - Foreign Judgments Article 15 - Place of administration Part 4: [INTENTIONALLY OMITTED] Article 16 - Deleted Article 17 - Deleted Article 18 - Deleted Article 19 - Deleted Part 5: Creation, Validity and Modification of a QFC Trust Article 16 - Creation of a Trust Article 16A - Registration Article 17 - Requirements for creation Article 18 - Trust purposes Article 19 - Duration of a Trust Article 20 - Validity and invalidity of a Trust Article 21 - [INTENTIONALLY OMITTED] Article 22 - Purpose Trusts Article 23 - Variation and revocation of a Trust Article 24 - Failure or lapse of interest Article 25 - Termination of a Trust Article 26 - Distribution of Property Part 6: The Beneficiaries of a QFC Trust Article 27 - Beneficiaries of a Trust Article 28 - Disclaimer Article 29 - Interest of Beneficiary and dealings Part 7: Protective Trusts and Creditors' Claims Article 30 - Protective Trusts Article 31 - Creditors' claims in relation to a Discretionary Trust Part 8: Office of Trustee Article 32 - Accepting or declining trusteeship Article 33 - Vacancy in Trusteeship; appointment of a new Trustee Article 34 - Resignation of Trustee Article 35 - Removal of Trustee by QFC Court or under the terms of a Trust Article 36 - Position of outgoing Trustee Article 37 - Remuneration of a Trustee Part 9: Duties and Powers of Trustees Chapter 1: Duties of Trustees Article 38 - Duty to administer a Trust Article 39 - Duties of Trustees Article 40 - Duties of co-Trustees to act together Article 41 - Impartiality of a Trustee Article 42 - Cost of administration Article 43 - Enforcement and defence claims Article 44 - Collecting Trust Property Article 45 - Duty to inform and report Chapter 2: General Powers of Trustees Article 46 - Powers of Trustee Article 47 - Specific powers of Trustees Article 48 - Power of accumulation and advancement Article 49 - Delegation by a Trustee Article 50 - Combination and division of Trusts Part 10: Liability of Trustees and Rights of Persons Dealing with a Trustee Article 51 - Liability for breach of trust Article 52 - Remedies for Breach of Trust Article 53 - Damages in absence of a breach Article 54 - Legal fees and costs Article 55 - Limitation of action against Trustee Article 56 - Reliance on Trust instrument Article 57 - Exculpation of Trustee Article 58 - Beneficiary's consent, release or ratification Article 59 - Limitation on Personal liability of Trustee Article 60 - Protection of Persons dealing with Trustees Part 11A: The Protector Article 61 - The Protector Part 11B: The Settlor Article 61A - Reservation of Certain Rights and Powers to the Settlor Part 12: Provisions Applicable to a Foreign Trust Article 62 - Enforceability of a Foreign Trust Part 13: Provisions Relating to QFC Authority and the Regulatory Authority Article 63 - Prescribed Forms and Prescribed Fees Article 64 - General Contraventions Article 65 - Involvement in Contraventions Article 66 - Imposition of Financial Penalties Article 66A - Anti-money Laundering Part 14: Powers of the QFC Court Article 67 - Applications to the QFC Court Article 68 - Power of the QFC Court to order compliance Article 69 - Power of the QFC Court to order amendment of the Terms of the Trust Article 70 - Power of the QFC Court to give directions Article 71 - Power of the QFC Court to protect interests under a trust Article 72 - Power of the QFC Court to dismiss or appoint a trustee Article 73 - Power of the QFC Court to take action on behalf of others Article 74 - General power of the QFC Court in respect of orders Article 75 - Power of the QFC Court to set aside a disposition Article 76 - Power of the QFC Court to authorise dealings with Trust Property Part 15: Interpretation and Definitions Article 77 - Interpretation Article 78 - Definitions ‹ Schedule 1 — Fines for Contraventions Enactment Notice ›
