Trust agents

(1) An international trust shall at times have a trust agent resident in Belize who shall be appointed by the trustee of the (2) The trust agent shall accept service of all legal process on behalf of the trustee and protector, if any, and shall be responsible for ensuring that the trust at all times complies with the provisions of this Act as to registration or the regulations. 59 (3) No person shall act or hold him or herself out as a trust agent unless he or she is the holder of a licence to engage in trust business issued by the Commission, and every person who contravenes this provision commits an offence and is liable to the penalties prescribed under the International Financial Services Commission Act. CAP. 272. S.I. 94 OF 2001. (4) Every trust agent or IFS Practitioner who contravenes the provisions of this Act shall, without prejudice to the IFS Practitioners (Code of Conduct) Regulations, commits an offence and is liable on summary conviction to a penalty of five hundred dollars for each day or part thereof during which the contravention continues.