Trustee Declaration Form - Malaysia

Trustee Declaration Form for Malaysia

Trustee Declaration Form Template for Malaysia

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What is a Trustee Declaration Form?

The Trustee Declaration Form is a crucial document in Malaysian trust administration, required whenever a new trustee is appointed to a trust. This document, governed by the Malaysian Trustees Act 1949 and related legislation, serves as formal evidence of the trustee's acceptance of their role and understanding of their responsibilities. It is typically executed upon the establishment of a new trust or the appointment of a replacement trustee, containing vital declarations about the trustee's legal capacity, understanding of duties, and commitment to comply with both the trust deed and Malaysian law. The form is particularly important in the Malaysian context as it provides documentary evidence of the trustee's acknowledgment of their fiduciary duties and helps ensure proper governance of trust arrangements. It includes specific references to Malaysian legal requirements and may be required by various authorities, financial institutions, and regulatory bodies as proof of valid trustee appointment.

What sections should be included in a Trustee Declaration Form?

1. Declaration Details: Basic information including the date of declaration, trust name, and trust deed reference

2. Trustee Information: Full legal name, identification details, and contact information of the trustee making the declaration

3. Trust Information: Details of the trust including date of establishment, type of trust, and its purpose

4. Acknowledgment of Trust Deed: Confirmation that the trustee has received and read the trust deed

5. Declaration of Acceptance: Formal acceptance of the appointment as trustee and agreement to act in accordance with the trust deed

6. Duties and Responsibilities: Statement acknowledging understanding of trustee duties under Malaysian law and the trust deed

7. Compliance Declaration: Declaration of compliance with relevant laws and regulations, including anti-money laundering requirements

8. Execution: Signature block with witness requirements and attestation

What sections are optional to include in a Trustee Declaration Form?

1. Co-Trustee Acknowledgment: Required when multiple trustees are appointed, acknowledging joint responsibilities

2. Investment Powers: Specific declaration regarding investment powers and restrictions, needed for trusts with investment components

3. Retirement Provisions: Include when specific provisions for trustee retirement are required

4. Remuneration Declaration: Required when trustee is entitled to compensation, stating acceptance of remuneration terms

5. Conflict of Interest Declaration: Needed when trustee has potential conflicts to disclose

6. Professional Qualification Statement: Required for professional trustees, confirming qualifications and licenses

What schedules should be included in a Trustee Declaration Form?

1. Schedule 1 - Trust Assets: Detailed list of initial trust assets and properties

2. Schedule 2 - Specific Powers: Enumeration of specific powers granted to the trustee

3. Schedule 3 - Beneficiary Information: List of beneficiaries and their respective interests

4. Appendix A - Supporting Documents: List of documents provided to trustee including trust deed, amendments, and relevant certificates

5. Appendix B - Compliance Requirements: Checklist of ongoing compliance requirements and reporting obligations

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Self Declaration Document

A legally binding written statement under Malaysian law where an individual declares certain facts to be true, made before authorized officials.

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Download a Standard Template

What is a Trustee Declaration Form?

What sections should be included in a Trustee Declaration Form?

What sections are optional to include in a Trustee Declaration Form?

What schedules should be included in a Trustee Declaration Form?

Authors

Alex Denne

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