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Revised Laws of Saint Lucia (2023)

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PART 8
TERMINATION OR FAILURE OF INTERNATIONAL TRUSTS

PART 8 TERMINATION OR FAILURE OF INTERNATIONAL TRUSTS

PART 1 SHORT TITLE AND INTERPRETATION

2. Interpretation

3. Trusts, trustees and beneficiaries generally

4. Application of Act

PART 2 REGISTRATION OF INTERNATIONAL TRUSTS

5. Designation of Registrar and Deputy Registrars

6. Indemnity of officers

7. Registered office

8. (Amended by Act 21 of 2003 and Repealed by Act 15 of 2018)

9. (Repealed by Act 15 of 2018)

10. Qualifications for trust to be or remain registered

11. Language and translation

12. Fees payable to Registrar

13. Cancellation of registration

14. Appeals against cancellation

PART 3 VALIDITY

15. Validity of international trust

16. Presumption of irrevocability

17. Duration of trust and accumulation of income

18. Retention of control by settlor

PART 4 PROTECTIVE INTERNATIONAL TRUSTS

19. Protective international trusts

PART 5 CHARITABLE INTERNATIONAL TRUSTS

20. Charitable international trusts

PART 6 PURPOSE INTERNATIONAL TRUSTS

21. Trusts for non-charitable purposes

22. Extension of cy-pres

PART 7 PROTECTOR OF TRUSTS

23. Protector of a trust

24. Failure or lapse of interest

25. Failure of charitable international trusts

26. Termination of international trust

PART 9 BREACH OF INTERNATIONAL TRUST

27. Liability for breach of trust

28. Constructive trusts

29. Tracing trust property

30. Beneficiary may relieve or indemnify trustee

31. Power to relieve trustee from personal liability

PART 10 PROPER LAW AND EFFECT OF FOREIGN LAW

32. Proper law of trust

33. Change of proper law

34. Exclusion of heirship, community of property and other rights arising under foreign laws

PART 11 POWERS OF THE COURT, PROCEEDINGS AND LIMITATIONS

35. Jurisdiction of the Court

36. Court's determination of validity

37. Saving of certain rights

38. Extent of invalidity for creditors

39. Foreign judgments not enforceable

40. Application for directions

41. Payment of costs

42. Limitation on commencement of proceedings

43. Security for costs

PART 12 DISPOSITION TO OR BY AN INTERNATIONAL TRUST

45. Avoidance of fraud

46. Limitations

47. Application

48. Certain rights

49. Extent of avoidance of relevant dispositions

50. Statute of Elizabeth not applicable

PART 13 TAX EXEMPTION

51. Exemptions of international trusts and Saint Lucia trusts from income tax

PART 14 MISCELLANEOUS

53. Confidentiality

54. Investments

56. Regulations

57. Transitional

SUBSIDIARY LEGISLATION

International Trust (Forms) Regulations – Section 56 (Statutory Instruments 21/2003, 44/2003, 126/2006, 74/2015 and 61/2019)

2. Interpretation

International Trust (Fees) Regulations – Section 56 (Statutory Instruments 20/2003 and 101 of 2021)