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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 32. Accounts and information.---A trustee or each of the trustee, as the case may be, is bound to; (a) Keep clear and accurate accounts of the trust-property, and income. (b) At all reasonable times, at the request of the beneficiary, to furnish him with full and accurate information as to the amount and state of the trust-property. (c) Shall update the information in a timely manner about the author of the Trust, beneficiaries, trustees, any other natural person exercising ultimate control over the Trust, Trust assets and incomes. Explanation: The details of the information shall be prescribed in the rules of this Act. (d) Get accounts audited by a third party at least once in a year. (e) Submit financial reports to the Deputy Manager (Auqaf) in every financial year. (f) Shall maintain the information collected under this section, and, section 24 above for a period not less than the five years after their involvement with the trust ceases, or, the trust is extinguished.