Section 90Part 1 — Trusts Act
Matters determined by governing law
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All questions arising in regard to a trust which is for the time being governed by the laws of the Islands or in regard to any disposition of property upon the trusts thereof including questions as to —
the capacity of any settlor;
any aspect of the validity of the trust or disposition or the interpretation or effect thereof;
the administration of the trust, whether the administration be conducted in the Islands or elsewhere, including questions as to the powers, obligations, liabilities and rights of trustees and their appointment and removal; or
the existence and extent of powers, conferred or retained, including powers of variation or revocation of the trust and powers of appointment, and the validity of any exercise thereof, are to be determined according to the laws of the Islands, without reference to the laws of any other jurisdictions with which the trust or disposition may be connected: Provided that this section —
does not validate any disposition of property which is neither owned by the settlor nor the subject of a power in that behalf vested in the settlor, nor does this section affect the recognition of foreign laws in determining whether the settlor is the owner of such property or the holder of such a power;
takes effect subject to any express contrary term of the trust or disposition;
does not, as regards the capacity of a corporation, affect the recognition of the laws of its place of incorporation;
does not affect the recognition of foreign laws prescribing generally (without reference to the existence or terms of the trust) the formalities for the disposition of property;
does not validate any trust or disposition of immovable property situate in a jurisdiction other than the Islands which is invalid according to the laws of such jurisdiction; and
does not validate any testamentary trust or disposition which is invalid according to the laws of the testator ’ s domicile.