Trustees Act 1967

This Act, except where otherwise expressly provided, applies to trusts including, so far as this Act applies to them, executorships and administratorships constituted or created either before, on or after 1 September 1929.

The powers conferred by this Act on trustees are in addition to the powers conferred by the instrument (if any) creating the trust, but those powers, unless otherwise stated, apply if and so far only as a contrary intention is not expressed in the instrument (if any) creating the trust, and have effect subject to the terms of that instrument.

This Act does not affect the legality or validity of anything done before 1 September 1929, except as otherwise expressly provided.

“authorised investments” means investments authorised by the instrument (if any) creating the trust for the investment of money subject to the trust, or by law;

“contingent right”, as applied to land, includes a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of the interest or possibility is or is not ascertained, also a right of entry, whether immediate or future, and whether vested or contingent;

“convey” and “conveyance”, as applied to any person, include the execution by that person of every necessary or suitable assurance (including an assent) for conveying, assigning, appointing, surrendering, or otherwise transferring or disposing of land of which the person is seised or possessed, or in which the person is entitled to a contingent right, either for the person’s whole estate or for any less estate, together with the performance of all formalities required by law for the validity of the conveyance;

“court” means the General Division of the High Court and includes, in any case where the trust concerned is an executorship or administratorship, a Family Court;

“debentures” includes debenture stock, loan stock, bonds, notes and any other document which creates or acknowledges a debt, whether constituting a charge on assets or not;

“general power of investment”, in relation to a trustee, means the general power of investment conferred on the trustee by section 4;

“income” includes rents and profits;

“instrument” includes a written law;

“land” has the meaning given by section 4 of the Land Titles Act 1993;

“mortgage”, “mortgagee” and “mortgagor” include “charge”, “chargee” and “chargor” respectively, and further include and relate to every estate and interest regarded in equity as merely a security for money, and every person deriving title under the original mortgagee;

“pay” and “payment”, as applied in relation to stocks and securities and in connection with the expression “into court”, include the deposit or transfer of the same in or into court;

“personal representative” means the executor, original or by representation, or administrator for the time being of a deceased person;

“possessed” applies to receipt of income of and to any vested estate less than a life interest in possession or in expectancy in any land;

“possession” includes receipt of rents and profits or the right to receive the same, if any;

“property” includes movable and immovable property, and any estate, share and interest in any property, movable or immovable, and any debt, and any thing in action, and any other right or interest, whether in possession or not;

“rights” includes estates and interests;

“sale” includes an exchange;

“securities” includes debentures, stocks, funds and shares; and so far as relates to payments into court has the same meaning as in the written laws relating to funds in court;

“securities payable to bearer” includes securities transferable by delivery or by delivery and endorsement;

“shareholders equity”, in relation to a company, means the total assets of the company less the total liabilities of the company as disclosed in —

“solicitor” means an advocate and solicitor of the Supreme Court;

“standard investment criteria”, in relation to a trust, means the standard investment criteria set out in section 5(3);

“statutory duty of care”, in relation to a trustee, means the duty of care required to be exercised by the trustee under Part 1A;

“stock” includes fully paid-up shares, and, so far as relates to vesting orders made by the court under this Act, includes any fund, annuity or security transferable in books kept by any corporation, company or society, or by instrument of transfer either alone or accompanied by other formalities or otherwise, and any share or interest therein;

“transfer”, in relation to stock or securities, includes the performance and execution of every deed, power of attorney, act, and thing on the part of the transferor to effect and complete the title in the transferee;

“trust” does not include the duties incident to an estate conveyed by way of mortgage, but with this exception “trust” and “trustee” extend to implied and constructive trusts, and to cases where the trustee has a beneficial interest in the trust property, and to the duties incident to the office of a personal representative, and “trustee”, where the context admits, includes a personal representative, and “new trustee” includes an additional trustee;

“trust corporation” means the Public Trustee or a corporation either appointed by the court in any particular case to be a trustee, or licensed as a trust company under the Trust Companies Act 2005;

“trust for sale”, in relation to land, means an immediate binding trust for sale, whether or not exercisable at the request or with the consent of any person, and with or without power at discretion to postpone the sale;

“trustees for sale” means the persons (including a personal representative) holding land on trust for sale.

In exercising any power, carrying out any duty or doing any act referred to in the First Schedule, a trustee must exercise such care and skill as is reasonable in the circumstances, having regard in particular —

This section applies in relation to trusts whether created before, on or after 15 December 2004 except if, or insofar as, it appears from the trust instrument that the requirements of subsection (1) are not meant to apply.

Subject to the provisions of this Act —

For the purpose of subsection (1), “investment” includes investment in assets that do not yield any income.

This section applies in relation to trusts whether created before, on or after 15 December 2004.

In exercising any power of investment, whether arising under this Part or otherwise, a trustee must have regard to the standard investment criteria.

A trustee must, from time to time, review the investments of the trust and consider whether, having regard to the standard investment criteria, they should be varied.

The standard investment criteria, in relation to a trust, are —

This section applies in relation to trusts whether created before, on or after 15 December 2004.

Except as otherwise provided by subsection (3), a trustee must, before exercising any power of investment, whether arising under this Part or otherwise, obtain and consider proper advice about the way in which the power should be exercised, having regard to the standard investment criteria.

Except as otherwise provided by subsection (3), a trustee must, when reviewing the investments of the trust, obtain and consider proper advice about whether the investments should be varied, having regard to the standard investment criteria.

A trustee need not obtain the advice required under subsection (1) or (2) if the trustee reasonably concludes that in all the circumstances it is unnecessary or inappropriate to do so.

In this section, “proper advice” means the advice of a person who is reasonably believed by the trustee to be qualified to give such advice by the person’s ability in and practical experience of financial and other matters relating to the proposed investment.

This section applies in relation to trusts whether created before, on or after 15 December 2004.

A trustee lending money on the security of any property on which the trustee can properly lend is not chargeable with breach of trust by reason only of the proportion borne by the amount of the loan to the value of the property at the time when the loan was made, if it appears to the court that —

This section applies to transfers of existing securities as well as to new securities and to investments made before, on or after 26 June 1992.

Where a trustee improperly advances trust money on a mortgage security which would at the time of the investment be a proper investment in all respects for a smaller sum than is actually advanced on the security, the security is deemed to be an authorised investment for the smaller sum, and the trustee is only liable to make good the sum advanced in excess of the smaller sum with interest.

This section applies to investments made before, on or after 26 June 1992.

Trustees lending money on the security of any property on which they can lawfully lend may contract that such money must not be called in during any period not exceeding 5 years from the time when the loan was made, provided that —

On a sale by trustees of land for an estate in fee simple, or held under a grant issued under the State Lands Act 1920, or for a term having at least 30 years to run, the trustees may, where the proceeds are liable to be invested, contract that the payment of any part, not exceeding two-thirds, of the purchase money must be secured by mortgage of the land sold, with or without the security of any other property, but such mortgage, if any buildings are comprised in the mortgage, must contain a covenant by the mortgagor to keep those buildings insured against loss or damage by fire to the full value of the buildings.

Where any securities of a company are subject to a trust, the trustees may concur in any scheme or arrangement —

The trustees shall not be responsible for any loss occasioned by any act or thing so done if they have discharged the statutory duty of care, and may retain any securities so accepted as specified in subsection (3) for any period for which they could have properly retained the original securities.

If any conditional or preferential right to subscribe for any securities in any company is offered to trustees in respect of any holding in the company, they may, as to all or any of the securities, either exercise that right and apply capital money subject to the trust in payment of the consideration, or renounce that right, or assign for the best consideration that can be reasonably obtained the benefit of that right or the title to it to any person, including any beneficiary under the trust, without being responsible for any loss occasioned by any act or thing so done by them if they have discharged the statutory duty of care.

The consideration for any assignment referred to in subsection (5) must be held as capital money of the trust.

The powers conferred by this section are exercisable subject to the consent of any person whose consent to a change of investment is required by law or by the instrument (if any) creating the trust.

Where the loan mentioned in subsection (1), or the sale mentioned in subsection (2), is made under the order of the court, the powers conferred by those subsections, respectively, apply only if and as far as the court may by order direct.

Trustees may, pending the negotiation and preparation of any mortgage or charge, or during any other time while an investment is being sought for, pay any trust money into a bank to deposit or other account, and all interest (if any) payable in respect of the money must be applied as income.

Trustees may apply capital money subject to a trust in payment of the calls on any shares subject to the same trust.

Trustees may —

In subsection (3), “dwelling house” means a place of residence and includes a building or tenement wholly or principally used, constructed or adapted for human habitation.

Where a trust for sale or a power of sale of property is vested in a trustee, the trustee may sell or concur with any other person in selling all or any part of the property, either subject to prior charges or not, and either together or in lots, by public auction or by private contract, subject to any such conditions respecting title or evidence of title or other matter as the trustee thinks fit, with power to vary any contract for sale, and to buy in at any auction, or to rescind any contract for sale and to resell, without being answerable for any loss.

A trust or power to sell or dispose of land includes a trust or power to sell or dispose of part of the land, whether the division is horizontal, vertical, or made in any other way.

No sale made by a trustee may be impeached by any beneficiary upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it also appears that the consideration for the sale was thereby rendered inadequate.

No sale made by a trustee may, after the execution of the conveyance, be impeached as against the purchaser upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it appears that the purchaser was acting in collusion with the trustee at the time when the contract for sale was made.

No purchaser, upon any sale made by a trustee, is at liberty to make any objection against the title upon any of the grounds as mentioned in subsection (2).

This section applies to sales made before, on or after 1 September 1929.

The written receipt of a trustee for any money, securities, investments or other personal property or effects payable, transferable or deliverable to the trustee under any trust or power —

This section does not, except where the trustee is a trust corporation, enable a sole trustee to give a valid receipt for the proceeds of sale or other capital money arising under a trust for sale of land.

Despite anything to the contrary in a disposition on trust for sale of land or in the settlement of the net proceeds, the proceeds of sale or other capital money arising under the disposition must not be paid to or applied by the direction of fewer than 2 persons as trustees of the disposition, except where the trustee is a trust corporation.

Subsection (3) does not affect the right of a sole personal representative as such to give valid receipts for or direct the application of the proceeds of sale or other capital money mentioned in that subsection; nor, except where capital money arises on a transaction, render it necessary to have more than one trustee.

This section applies despite anything to the contrary in the instrument (if any) creating the trust.

A personal representative, or 2 or more trustees acting together, or, subject to the restrictions imposed in regard to receipts by a sole trustee not being a trust corporation, a sole acting trustee where by the instrument (if any) creating the trust, or by statute, a sole trustee is authorised to execute the trusts and powers reposed in him or her, may, if and as he, she or they think fit —

For any of the purposes mentioned in subsection (1)(a) to (f), any of those persons may enter into, give, execute and do any agreements, instruments of composition or arrangement, releases, and other things as to him, her or them seem expedient, without being responsible for any loss occasioned by any act or thing so done by him, her or them if he or she has or they have discharged the statutory duty of care.

A trustee of any leaseholds for lives or years which are renewable from time to time either under any covenant or contract, or by custom or usual practice, may, if the trustee thinks fit, and must, if required by any person having any beneficial interest, present or future, or contingent, in the leaseholds, use the trustee’s best endeavours to obtain from time to time a renewed lease of the same hereditaments on the accustomed and reasonable terms, and for that purpose may, from time to time, make or concur in making a surrender of the lease for the time being subsisting, and do all other requisite acts.

Where by the terms of the settlement or will the person in possession for his or her life or other limited interest is entitled to enjoy the same without any obligation to renew or to contribute to the expense of renewal, this section does not apply unless the written consent of that person is obtained to the renewal on the part of the trustee.

If money is required to pay for the renewal, the trustee effecting the renewal may pay the same out of any money then in the trustee’s hands in trust for the persons beneficially interested in the lands to be comprised in the renewed lease, and if the trustee has not in the trustee’s hands sufficient money for the purpose the trustee may raise the money required by mortgage of the hereditaments to be comprised in the renewed lease or of any other hereditaments for the time being subject to the uses or trusts to which those hereditaments are subject.

No person advancing money upon a mortgage purporting to be under subsection (3), is bound to see that the money is wanted, or that no more is raised than is wanted for the purpose, or otherwise as to the application of the money.

Where trustees are authorised by the instrument (if any) creating the trust or by law to pay or apply capital money subject to the trust for any purpose or in any manner, they have and are deemed always to have had power to raise the money required by sale, conversion, calling in, or mortgage of all or any part of the trust property for the time being in possession.

This section applies despite anything to the contrary contained in the instrument (if any) creating the trust, but does not apply to trustees of property held for charitable purposes.

Where a power or trust is given to or imposed on 2 or more trustees jointly, the same may be exercised or performed by the survivors or survivor of them for the time being.

Until the appointment of new trustees, the personal representatives or representative for the time being of a sole trustee, or, where there were 2 or more trustees, of the last surviving or continuing trustee, is capable of exercising or performing any power or trust which was given to, or capable of being exercised by, the sole or last surviving or continuing trustee, or other trustees or trustee for the time being of the trust.

This section takes effect subject to the restrictions imposed in regard to receipts by a sole trustee, not being a trust corporation.

In this section, “personal representative” does not include an executor who has renounced or has not proved.

A trustee may —

In the case of property held on a bare trust, the power to insure is subject to any direction given by the beneficiary or each of the beneficiaries that any property specified in the direction —

If a direction under subsection (2) is given, the power to insure, so far as it is subject to the direction, ceases to be a delegable function for the purposes of section 41B.

For the purposes of this section —

This section applies in relation to trusts whether created before, on or after 15 December 2004.

Money receivable by trustees or any beneficiary under a policy of insurance against the loss or damage of any property that is subject to a trust is capital money for the purpose of the trust, where the policy has been kept up under any trust in that behalf or under any power statutory or otherwise, or in the performance of any covenant or of any obligation statutory or otherwise, or by a tenant for life impeachable for waste.

If any such money is receivable by any person, other than the trustees of the trust, that person must use that person’s best endeavours to recover and receive the money, and must pay the net residue of the money after discharging any costs of recovering and receiving it, to the trustees of the trust, or, if there are no trustees capable of giving a discharge, into court.

Any such money must —

Such money, or any part of it, may also be applied by the trustees, or, if in court, under the direction of the court, in rebuilding, reinstating, replacing or repairing the property lost or damaged, but any such application by the trustees is subject to the consent of any person whose consent is required by the instrument (if any) creating the trust to the investment of money subject to the trust.

Nothing in this section affects the right of any person to require any such money or any part of the money to be applied in rebuilding, reinstating, replacing or repairing the property lost or damaged, or the right of any mortgagee, lessor or lessee, whether under any statute or otherwise.

This section applies to policies effected either before, on or after 1 September 1929, but only to money received on or after that date.

Where trust property includes any share or interest in property not vested in the trustees, or the proceeds of the sale of any such property, or any other thing in action, the trustees on the same falling into possession, or becoming payable or transferable, may —

The trustees are not under any obligation and are not chargeable with any breach of trust by reason of any omission —

Nothing in subsection (2) relieves the trustees of the obligation to get in and obtain payment or transfer of the share or interest or other thing in action on the same falling into possession.

Trustees may, for the purpose of giving effect to the trust, or any of the provisions of the instrument (if any) creating the trust or of any statute, from time to time (by duly qualified agents) ascertain and fix the value of any trust property in any manner that they think proper and any valuation so made in discharge of the statutory duty of care is binding upon all persons interested under the trust.

Trustees may, in their absolute discretion, from time to time, but not more than once in every year unless the nature of the trust or any special dealings with the trust property make a more frequent exercise of the right reasonable, cause the accounts of the trust property to be examined or audited by an independent accountant, and must, for that purpose, produce such vouchers and give such information to the accountant as the accountant may require.

The costs of the examination or audit, including the fee of the auditor, must be paid out of the capital or income of the trust property, or partly in one way and partly in the other as the trustees, in their absolute discretion, think fit, but, in default of any direction by the trustees to the contrary in any special case, costs attributable to capital must be borne by capital and those attributable to income by income.

Despite any rule of law or equity to the contrary, a trustee may, by power of attorney, delegate the execution or exercise of all or any trusts, powers and discretions vested in the trustee as trustee either alone or jointly with any other person or persons.

A delegation under this section —

The persons who may be donees of a power of attorney under this section include a trust corporation.

Before or within 7 days after giving a power of attorney under this section, the donor must give written notice of it (specifying the date on which the power comes into operation and its duration, the donee of the power, the reason why the power is given and, where only some trusts, powers and discretions are delegated, the trusts, powers and discretions delegated) to —

A power of attorney given under this section by a single donor —

The donor of a power of attorney given under this section shall be liable for the acts or defaults of the donee in the same manner as if they were the acts or defaults of the donor.

For the purpose of executing or exercising the trusts or powers delegated to the donee, the donee may exercise any of the powers conferred on the donor as trustee by statute or by the instrument creating the trust, including power, for the purpose of the transfer of any inscribed stock or securities, for the donee to delegate to an attorney the power to transfer, but not including the power of delegation conferred by this section.

The fact that it appears from any power of attorney given under this section, or from any evidence required for the purposes of any such power of attorney or otherwise, that in dealing with any stock or securities the donee of the power is acting in the execution of a trust, is not deemed for any purpose to affect —

This section applies to a personal representative as it applies to a trustee except that subsection (4) applies as if it required the notice mentioned in it to be given to each of the other personal representatives (if any) except any executor who has renounced probate.

This section applies to a personal representative or trustee liable as such for —

Where a personal representative or trustee mentioned in subsection (1) —

Despite any distribution referred to in subsection (2)(d), the personal representative or trustee shall not be personally liable in respect of any subsequent claim under the lease or grant.

This section —

In this section —

“grant” applies to a grant whether the rent is created by limitation, grant, reservation, or otherwise, and includes an agreement for a grant and any instrument giving any indemnity mentioned in subsection (1) or varying the liabilities under the grant;

“lease” includes an underlease and an agreement for a lease or underlease and any instrument giving any indemnity mentioned in subsection (1) or varying the liabilities under the lease;

“lessee” and “grantee” include persons respectively deriving title under them.

With a view to the conveyance to or distribution among the persons entitled to any movable or immovable property, the trustees or personal representatives may give notice by advertisement in the Gazette, and such other similar notices (including notices elsewhere than in Singapore) as would, in any special case, have been directed by a court of competent jurisdiction in an action for administration, of their intention to make the conveyance or distribution and requiring any person interested to send to the trustees or personal representatives within the time, being at least 2 months, fixed in the notice or, where more than one notice is given, in the last of the notices, particulars of the person’s claim in respect of the property or any part of the property to which the notice relates.

At the expiry of the time fixed by the notice, the trustees or personal representatives may convey or distribute the property or any part of the property to which the notice relates, to or among the persons entitled to the property, having regard only to the claims whether formal or not, of which the trustees or personal representatives then had notice and shall not, as respects the property so conveyed or distributed, be liable to any person of whose claim the trustees or personal representatives have not had notice at the time of conveyance or distribution.

Nothing in this section —

This section applies despite anything to the contrary in the will or other instrument (if any) creating the trust.

A trustee acting or paying money in good faith under or pursuant to any power of attorney shall not be liable for any such act or payment by reason of the fact that at the time of the act or payment the person who gave the power of attorney was subject to any disability or bankrupt or dead, or had done or suffered some act or thing to avoid the power, if this fact was not known to the trustee at the time of the act or payment.

Nothing in this section affects the right of any person entitled to the money against the person to whom the payment is made.

The person so entitled has the same remedy against the person to whom the payment is made as the person so entitled would have had against the trustee.

Where any property is held by trustees in trust for any person for any interest, whether vested or contingent, then, subject to any prior interests or charges affecting that property —

In deciding whether the whole or any part of the income of the property is during a minority to be paid or applied for the purposes mentioned in subsection (1), the trustees must have regard to the age of the infant and the infant’s requirements and generally to the circumstances of the case, and in particular to what other income (if any) is applicable for the same purposes; and where trustees have notice that the income of more than one fund is applicable for those purposes, then, so far as practicable, unless the entire income of the funds is paid or applied as mentioned in subsection (1) or the court otherwise directs, a proportionate part only of the income of each fund must be so paid or applied.

During the infancy of the person, so long as his or her interest continues, the trustees must accumulate all the residue of that income by investing it, and any profits from so investing it, from time to time in authorised investments, and must hold those accumulations as follows:

This section applies in the case of a contingent interest only if the limitation or trust carries the intermediate income of the property, but it applies to a future or contingent legacy by the parent of, or a person standing in loco parentis to, the legatee, if and for such period as, under the general law, the legacy carries interest for the maintenance of the legatee, and in the latter case the rate of interest is (if the income available is sufficient and subject to any provision of the Rules of Court to the contrary) 5% per annum.

This section applies to a vested annuity in the same manner as if the annuity were the income of property held by trustees in trust to pay the income to the annuitant for the same period for which the annuity is payable, except that in any case accumulations made during the infancy of the annuitant must be held in trust for the annuitant or the annuitant’s personal representatives absolutely.

This section does not apply where the instrument (if any) under which the interest arises came into operation before 1 September 1929.

Trustees may at any time pay or apply any capital money subject to a trust, for the advancement or benefit in any manner that they may, in their absolute discretion, think fit, of any person entitled to the capital of the trust property or of any share thereof, whether absolutely or contingently on the person attaining any specified age or on the occurrence of any other event, or subject to a gift over on the person’s death under any specified age or on the occurrence of any other event, and whether in possession or in remainder or reversion.

Any payment or application may be made under subsection (1) even though the person’s interest is liable to be defeated by the exercise of a power of appointment or revocation, or to be diminished by the increase of the class to which the person belongs.

The money paid or applied under subsection (1) for the advancement or benefit of any person must not exceed altogether in amount one‑half of the presumptive or vested share or interest of that person in the trust property; and if that person is or becomes absolutely and indefeasibly entitled to a share in the trust property the money so paid or applied must be brought into account as part of such share.

No payment or application may be made under subsection (1) so as to affect any person’s entitlement to any prior life or other interest, whether vested or contingent, in the money paid or applied unless that person is in existence and of full age and consents in writing to the payment or application.

This section does not apply to trusts constituted or created before 1 September 1929.

Where any income, including an annuity or other periodical income payment, is directed to be held on protective trusts for the benefit of any person (called in this section the principal beneficiary) for the period of the person’s life or for any less period, then, during the period (called in this section the trust period) such income must, without prejudice to any prior interest, be held on the following trusts:

This section does not apply to trusts coming into operation before 1 September 1929 and has effect subject to any variation of the implied trusts aforesaid contained in the instrument creating the trust.

Nothing in this section operates to validate any trust which would, if contained in the instrument creating the trust, be liable to be set aside.

In the case of settlements and dispositions on trust of property, whether movable or immovable, made or coming into operation on or after 1 September 1929 —

The restrictions imposed on the number of trustees do not apply in the case of property vested in trustees for charitable, religious or public purposes.

Where a trustee, either original or substituted, and whether appointed by a court or otherwise —

Where a trustee has been removed under a power contained in the instrument creating the trust, a new trustee or new trustees may be appointed in the place of the trustee who is removed, as if the removed trustee were dead, or, in the case of a corporation, as if the corporation desired to be discharged from the trust, and this section applies accordingly, but subject to the restrictions imposed by this Act on the number of trustees.

Where a corporation being a trustee is or has been dissolved, either before, on or after 1 September 1929, then, for the purposes of this section and of any written law replaced by this section, the corporation is deemed to be and to have been from the date of the dissolution incapable of acting in the trusts or powers reposed in or conferred on the corporation.

The power of appointment given by subsection (1) or any similar previous written law to the personal representatives of a last surviving or continuing trustee is and is deemed always to have been exercisable by the executors for the time being (whether original or by representation) of the surviving or continuing trustee who have proved the will of their testator or by the administrators for the time being of such trustee without the concurrence of any executor who has renounced or has not proved.

But a sole or last surviving executor intending to renounce, or all the executors where they all intend to renounce, has or have and is or are deemed always to have had power, at any time before renouncing probate, to exercise the power of appointment given by this section, or by any similar previous written law, if willing to act for that purpose and without thereby accepting the office of executor.

Where a sole trustee, other than a trust corporation, is or has been originally appointed to act in a trust, or where, in the case of any trust, there are not more than 3 trustees (none of them being a trust corporation) either original or substituted and whether appointed by the court or otherwise, then and in any such case —

It is not obligatory to appoint any additional trustee under subsection (6) unless the instrument (if any) creating the trust, or any written law provides to the contrary, nor is the number of trustees to be increased beyond 4 by virtue of any such appointment.

Every new trustee appointed under this section, as well before as after all the trust property becomes by law, or by assurance, or otherwise, vested in the new trustee, has the same powers, authorities and discretions, and may in all respects act as if the new trustee had been originally appointed a trustee by the instrument (if any) creating the trust.

The provisions of this section relating to a trustee who is dead include the case of a person nominated a trustee in a will but dying before the testator, and those relative to a continuing trustee include a refusing or retiring trustee, if willing to act in the execution of the provisions of this section.

Where a trustee lacks capacity (within the meaning of the Mental Capacity Act 2008) to exercise his or her functions as trustee and is also entitled in possession to some beneficial interest in the trust property, no appointment of a new trustee in his or her place is to be made by the continuing trustees or trustee, under this section, unless leave has been given by the court to make the appointment.

On the appointment of a trustee for the whole or any part of trust property —

Nothing in this Act authorises the appointment of a sole trustee, not being a trust corporation, where the trustee, when appointed, would not be able to give valid receipts for all capital money arising under the trust.

A statement contained in any instrument coming into operation on or after 1 September 1929 by which a new trustee is appointed for any purpose connected with land, to the effect that a trustee has remained out of Singapore for more than 12 months or refuses or is unfit to act, or is incapable of acting, or that the trustee is not entitled to a beneficial interest in the trust property in possession, is, in favour of a purchaser of a legal estate, conclusive evidence of the matter stated.

In favour of such purchaser, any appointment of a new trustee depending on that statement and any vesting declaration, express or implied, consequent on the appointment, is valid.

Where a trustee is desirous of being discharged from the trust, and after the trustee’s discharge there will be either a trust corporation or at least 2 individuals to act as trustees to perform the trust, then —

Any assurance or thing requisite for vesting the trust property in the continuing trustees alone must be executed or done.

Where by a deed a new trustee is appointed to perform any trust, then —

Where by a deed a retiring trustee is discharged under the statutory power without a new trustee being appointed, then —

An express vesting declaration —

This section does not extend —

In subsection (4), “lease” includes an underlease and an agreement for a lease or underlease.

This section applies to deeds of appointment or discharge executed on or after 1 August 1886.

Subject to subsection (2), this Part applies in relation to trusts whether created before, on or after 15 December 2004.

Except as otherwise provided in section 41I(4), this Part applies in relation to a trust having a sole trustee as it applies in relation to other trusts, and references to trustees in this Part (except in sections 41C(1) and (3) and 41J(4)) are to be read accordingly.

Subject to the provisions of this Part, the trustees of a trust may authorise any person to exercise all or any of their delegable functions as their agent.

In the case of a trust other than a charitable trust, the trustees’ delegable functions consist of any function other than —

In the case of a charitable trust, the trustees’ delegable functions are —

For the purposes of subsection (3)(c), a trade is an integral part of carrying out a trust’s charitable purpose if, whether carried on in Singapore or elsewhere, the profits are applied solely to the purposes of the trust and either —

Subject to subsection (2), the persons whom the trustees may under section 41B authorise to exercise functions as their agent include one or more of their number.

The trustees may not authorise 2 or more persons to exercise the same function unless they are to exercise the function jointly.

The trustees may not, under section 41B, authorise a beneficiary to exercise any function as their agent (even if the beneficiary is also a trustee).

The trustees may, under section 41B, authorise a person to exercise functions as their agent even though the person is also appointed to act as their nominee or custodian (whether under section 41G, 41H or 41I or any other power).

Subject to subsection (2), a person who is authorised under section 41B to exercise any function is, despite the terms of the agency, subject to any specific duties or restrictions attached to the function. Example A person who is authorised under section 41B to exercise the general power of investment is subject to the duties under section 5 in relation to that power.