94

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 IX OF THE EXTINCTION OF TRUSTS 94. Revocation of trust.---(1) A trust created by will may be revoked at the pleasure of the testator. (2) A trust otherwise created can be revoked only - (a) Where all the beneficiaries are competent to contract by their consents; (b) Where the trust has been declared by non-testamentary instrument or verbally; in exercise of a power of revocation expressly reserved to the author of the trust; or (c) Where the trust is for the payment of the debts of the author of the trust, and has not been communicated to the creditors at the pleasure of the author of the trust. Illustration,- A conveys property to B in trust to sell the same and pay out of the proceeds the claims of A's creditors. A reserves no power of revocation. If no communication has been made to the creditors, A may revoke the trust. But if the creditors are parties to the arrangement, the trust cannot be revoked without their consent.