Trustee Ordinance

(1)
Sections 40A
and
40B
do not apply in relation to a trust if a contrary intention is expressed in the instrument creating the trust or an enactment.
(2)
Sections 40A
and
40B
do not apply in relation to a trust created before the commencement date
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of those sections in so far as provision to the effect that those sections do not apply is made by a deed
executed—
(a)
if the trust was created by a person who is of full capacity, by that person; or
(b)
if the trust was created by more than one person, by all the persons who are of full capacity.
(3)
A deed executed for the purpose of subsection (2) is irrevocable.
(4)
If a deed is executed for the purpose of subsection (2
)—
(a)
the deed does not affect anything done before its execution to comply with a direction given under
section 40A
or
40B
; but
(b)
a direction given under
section 40A
or
40B
that has not been complied with before the execution of the deed ceases to have effect.
(5)
Sections 40A
and
40B
do not apply to the appointment and retirement of a personal representative.