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4

Creation of trust

Act: Balochistan Trust Act 2020

Section Provisions

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 II OF THE CREATION OF THE TRUSTS 4. Creation of trust.---(1) Subject to the provisions of Section 3, a trust is created when the author of the trust indicates with reasonable certainty by any words or acts; (i) An intention on his part to create thereby a trust, (ii) The purpose of the trust, (iii) The beneficiary, (iv) The trust-property, and (v) Transfers the trust-property to the trustee (unless the trust is declared by will or the author of the trust is himself to be the trustee). (2) Every trust for which the purpose is unlawful is void and where a trust is created for more than one purpose and one of the purposes is unlawful, the whole trust is void.