55

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 V OF RIGHTS AND POWERS OF TRUSTEE 55. Power to give receipts.---Any trustees or trustee may give a receipt in writing for any money, securities or other moveable property payable, transferable or deliverable to them or him by reason, or in the exercise, of any trust of power; and, in the absence of fraud, such receipt shall discharge the person paying, transferring or delivering, the same there from, and from seeing to the application thereof, or being accountable for any loss or misapplication thereof.