Application of this Act

(1) This Act shall apply only to trusts created on or after the 23rd day of April, 1992. (2) For the purposes of this Act, a trust shall be regarded as created at the time at which property is first received by or vested in the trustee to be held by him in accordance with the terms of the trust. (3) Sections 1 to 4, 7, 52, 56 and Parts VIII, X and XI shall apply to all trusts; the other sections of this Act shall apply only to trusts the proper law of which is the law of Belize. (4) Nothing in this Act shall be construed as affecting the validity of any act done or omission occurring prior to the 23rd day of April, 1992.