INTERNATIONAL TRUSTS ACT 1984
PART 5 MISCELLANEOUS
27B
Application of other enactments
(1)
Subject to section 3, no enactment other than this Act and the enactments set out in the Schedule to this Act may—
-
(a)
impose—
-
(i)
any liability, duty, responsibility, obligation or restriction; or
-
(ii)
any fee, impost, tax, levy, due, duty, or excise; or
-
(iii)
any fine or penalty;
on an international trust; or
-
(b)
require—
-
(i)
the deposit of any moneys in any public account; or
-
(ii)
the filing of any accounts, returns, reports or records; or
-
(iii)
the licensing or registration of any document, act, matter or thing pertaining to an international trust:
by an international trust.
(2)
Despite subsection (1), an international trust is not required to register as a foreign enterprise pursuant to the provisions of the Development Investment Act 1977 and is not subject to that Act by reason only that it—
-
(a)
carries on business with another international trust:
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(b)
carries on business with an international company registered under the provisions of the International Companies Act 1981-82:
-
(c)
carries on business with a foreign company registered under the provisions of the International Companies Act 1981-82:
-
(d)
carries on business with an international partnership registered under the International Partnership Act 1984:
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(da)
carries on business with a limited liability company under the provisions of the Limited Liability Companies Act 2008:
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(e)
obtains legal advice or legal representation:
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(f)
obtains accounting advice or has its accounts prepared or audited:
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(g)
operates a bank account for the purpose of either depositing, receiving or transmitting money due or owing by such trust or undertakes a transaction with a bank for purposes principally associated with the objects of the trust:
-
(h)
utilises the services of a trustee company or any subsidiary of such company:
-
(i)
undertakes any act matter or thing as may be prescribed by regulation.
(3)
The Queen’s Representative may by Order in Executive Council amend the Schedule by omitting from or adding to it any enactment (including any regulation) and may in like manner determine whether an enactment or regulation be omitted or added either in whole or in part.
[Section 27B: inserted, on 21 November 1996, by section 25 of the International Trusts Amendment Act 1995-96 (1995-96 No 25) .]
[Section 27B(2)(dd): inserted, on 25 June 2008, by Schedule 2 of the Limited Liability Companies Act 2008 (2008 No 7) .]