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ACT IV OF 2020 ACT IV OF 2020 BALOCHISTAN TRUST ACT, 2020 An Act to make provisions relating to the proper management and administration of Trust in Balochistan Province [Gazette of Balochistan Extraordinary, 1st September, 2020] No. PAB/Legis; V(03)/2020, dated 1.9.2020.---The Balochistan Trust Bill, 2020 (Bill No. 03 of 2020), having been passed by the Provincial Assembly of Balochistan on 26th August, 2020 and assented to by the Governor, Balochistan on 31st August, 2020 is hereby published as an Act of the Balochistan Provincial Assembly. WHEREAS it is expedient to make provisions relating to the Trusts and to repeal the existing Trust Law; And WHEREAS, to cater for the Monitoring and evaluation purposes of the Trusts; And WHEREAS, it is expedient for the Balochistan Province to enact its own Trust Act for a better Administrative and Legislative control in wake of the 18th Constitutional Amendment; It is hereby enacted as follows: CHAPTER I PRELIMINARY 2. Definitions.---In this Act, unless there is anything repugnant to the subject or context; (a) "Act" means the Balochistan Trust Act, 2020; (b) "Author of the Trust" means the natural person who reposes or declares the confidence, and assigns the property to the trustee for the benefit of beneficiary; (c) "Beneficiary" means the natural person who benefits the confidence of the trust; (d) "Breach of Trust" means a breach of any duty imposed on a trustee, as such, by any law for the time being in force; (e) "Competent authorities" means the 'regulators', the oversight bodies for SRBs as specified in the Anti-Money Laundering Act 2010, the "investigating or prosecuting agency" and the Financial Monitoring Unit. (f) "Deputy Manager (Auqaf)" means the Deputy Manager (Auqaf) in each District under the Religious Affairs Department; (g) "Department" means the Religious Affairs Department Government of Balochistan; (h) "Director" means the Director of the Religious Affairs Directorate; (i) "District Intelligence Coordination Committee" means the intelligence committee headed by the Deputy Commissioner of each district and comprising of the representatives of police and intelligence agencies; (j) "Director General" means Director General of the Balochistan Charities (Registration, Regulation and Facilitation Authority) Act, 2019; (k) "Financial Monitoring Unit" means the Financial Monitoring Unit as specified under the Anti-Money Laundering Act, 2010; (l) "Home Department" means the Home and Tribal Affairs Department; Government of Balochistan; (m) "Instrument of the Trust" means the instrument by which the trust is declared. (n) "Interest" means the beneficiary's right against the trust property; (o) "Investigating or prosecuting Agency" mean an Investigating or prosecuting Agency as specified under the Anti-Money Laundering Act, 2010; (p) "Notice" means a person is said to have known of a fact either when he actually knows that fact, or when, but for willful abstention from inquiry or gross negligence, he would have known it, or when information of the fact is given to or obtained by his agent, under the circumstances mentioned in the Contract Act, 1872, and all expressions used herein and defined in the Contract Act, 1872, shall be deemed to have the meanings respectively attributed to them by that Act; (q) "Prescribed" means prescribed by rules made under this Act; (r) "Purpose" means any lawful purpose unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy; (s) "Registered" means registered with the Director General, Balochistan Charities (Registration, Regulation and Facilitation Authority) through Religious Affairs Department; (t) "Reporting Entity" means an entity specified under the Anti-Money Laundering Act, 2010; (u) "Revenue Department" means the Revenue Department Government of Balochistan; (v) "Secretary" means Secretary of the Religious Affairs, Department Government of Balochistan; (w) "Trust Property" means the subject matter of the trust; it may be movable or immovable property; (x) "Trust" means an obligation annexed to the ownership of property, and rising out of confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of beneficiary; and (y) "Trustee" means any person who accepts the confidence of the author of the trust to the benefit of the beneficiary.