Trustee Ordinance

(1)
A trust is not invalid only because of the person creating the trust (
the settlor
) reserving to the settlor any or all powers of investment or asset management functions under the trust.
(2)
If a power or function referred to in subsection (1) has been reserved by the settlor, a trustee who acts in accordance with the exercise of the power or function is not in breach of the trust.
(3)
If a trust was declared invalid by the court before the commencement date
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of the 2013 amending Ordinance, subsection (1) does not operate to revive the invalid trust on or after that date.
(4)
Subject to subsection (3), if the validity of a trust (whenever created) is being questioned, the court may take into account subsection (1) in determining the validity.