International Trust Registry

(1) There shall be established under the jurisdiction and control of the Commission and International Trusts Registry, hereinafter referred to in this Part as “Registry”. (2) The Director General of the Commission shall act as the Registrar of International Trusts. (3) The Registrar may, with the approval of the Minister, appoint one or more persons to be Deputy Registrar of (4) The Registrar shall maintain a Register of International Trusts containing the following information– (a) name of the trust; (b) date of settlement of the trust; (c) date of registration of the trust; (d) name of the trustee; (e) name of the protector, if any; (f) name and address of the trust agent; and (g) any other information as may from time to time be specified by Regulations. (5) Every Trust Agent shall maintain a record of International Trust containing the following information– (a) name of the trust; (b) date of settlement of the trust; (c) date of registration of the trust; (d) name of the trustee; 54 (e) name of settlor; (f) name of protector, if any; (g) names and addresses of all the (h) initial funds settled; (i) additional funds settled; (j) changes in beneficiaries; (k) change of protector; and (l) original trust instrument and any other amendments thereto. (6) The Registrar may from time to time either personally or through inspectors appointed by him, inspect and audit the record of International Trusts maintained by the Trust Agents under sub-section (5), to verify the contents of the record and ensure its compliance with the law.