Constitution of trust corporations

(1) The Minister, on the application of any corporation carrying on business in Belize, if he is satisfied that under the instrument whereby such corporation is incorporated or any instrument whereby the powers of such corporation are defined such corporation is authorised to act as an executor of the will of any deceased person or as administrator of the estate of any deceased person or as a trustee of any settlement whether constituted by any testamentary instrument or otherwise, may in his discretion by Order published in the Gazette declare the corporation to be a trust corporation for the purposes of this Act. (2) There shall be paid to the Accountant General for such Order the sum of two hundred and fifty dollars.