Revised Laws of Saint Lucia (2021)

PART 7
PROTECTOR OF TRUSTS

23.   Protector of a trust

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    (1)   The terms of an international trust may provide for the appointment of a protector of the international trust.

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    (2)   A protector shall have the following powers, unless the terms of the international trust provide otherwise—

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      (a)     the power to remove a trustee and appoint a new or additional trustee;

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      (b)     the power to change the proper law of the international trust;

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      (c)     the right to receive notice in advance of specified actions of the trustee as set out in the trust instrument;

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      (d)     the right to receive information relating to or forming part of the accounts of the trust; and

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      (e)     such further powers as are conferred on the protector by the terms of the international trust.

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    (3)   A protector may be a settlor, trustee or beneficiary of the international trust, or any other person.

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    (4)   In the exercise of his or her powers the protector shall not be regarded as a trustee.

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    (5)   Where there are more than 2 protectors of an international trust, subject to the terms of the international trust, any functions conferred on the protectors may be exercised if a majority of the protectors for the time being agree on their exercise.

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    (6)   A protector who dissents from a decision of the majority of protectors may require his or her dissent to be recorded in writing.