(758) 468-3200
Government Saint Lucia
 
 
 
Home
/
Departments
/
Legislative Drafting
/
Revised Laws of Saint Lucia
/
CIVIL CODE OF SAINT LUCIA
/
2174.   Supplemental provisions as to appointment of trustees

Revised Laws of Saint Lucia (2021)

saint Lucia
back arrow Back to Revised Laws of Saint Lucia (2021)
back arrow Back to Table of Contents

2174.   Supplemental provisions as to appointment of trustees

  1.  

    (1)   On the appointment of a trustee for the whole or any part of trust property—

    1.  

      (a)     the number of trustees may, subject to the restrictions imposed by this Part on the number of trustees, be increased; and

    1.  

      (b)     a separate set of trustees, not exceeding 4, may be appointed for any part of the trust property held on trusts distinct from those relating to any other part or parts of the trust property, notwithstanding that no new trustees or trustee are or is to be appointed for other parts of the trust property, and any existing trustee may be appointed or remain one of such separate set of trustees, or, if only one trustee was originally appointed, then, save as hereinafter provided, one separate trustee may be so appointed; and

    1.  

      (c)     it shall not be obligatory, save as hereinafter provided, to appoint more than one new trustee where only one trustee was originally appointed, or to fill up the original number of trustees where more than 2 trustees were originally appointed, but, except where only one trustee was originally appointed, and a sole trustee when appointed will be able to give valid receipts for all capital money, a trustee shall not be discharged from his or her trust unless there will be either a trust corporation or at least 2 individuals to act as trustees to perform the trust; and

    1.  

      (d)     any assurance or thing requisite for vesting the trust property, or any part thereof, in a sole trustee, or jointly in the persons who are the trustees, shall be executed or done.

  1.  

    (2)   Nothing in this Part shall authorise the appointment of a sole trustee, not being a trust corporation, where the trustee, when appointed, would not be able to give valid receipts for all capital money arising under the trust.

Address

2nd Floor Francis Compton Building, 
Waterfront,
Castries, Saint Lucia

Need help?

Site Map

HomeAbout AG OfficeDepartmentsAccessibilityContact Us

Quick Links

Inland Revenue Department of Government of Saint Lucia (IRD)Government of Saint Lucia Citizenship by Investment Financial Intelligence Authority

Important Links

CARICOMOECSFSRA
 
© 2024 Attorney General's Chambers
Site by