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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 IV OF THE DUTIES AND LIABILITIES OF TRUSTEES 24. Trustee to collect and hold information.---(1) A trustee or each of the trustees, as the case may be, must collect and hold information about the author of the trust, the trustees), beneficiaries of the Trust, and any other natural person exercising ultimate effective control over the trust to his satisfaction and requirement of the Department, before the execution of the Trust as mentioned in section 22 above. (2) The trustee must provide the updated information under this Act to the Deputy Manager (Auqaf), in a timely manner as prescribed. In case of more than one trustee, only one trustee will be nominated by other Co-trustees for the purpose of provision of information. (3) The trustees or the trustee shall collect and hold basic information about the other service providers to the trust including, but not limited to, investment advisors or managers, accountants or tax advisors, and, provide this information to the Deputy Manager (Auqaf) even after the registration of the Trust, in the prescribed circumstances and manner. (4) The details of the information required to be collected and held under the subsections (1), to (3)) above will be prescribed. (5) The trustees or the trustee shall further inform the Department and Law enforcement agencies if it comes to their knowledge any illegal utilization of the trust money by the beneficiaries, after and during the execution of the Trust.