Cap. 331 Art. 15Revocation of a trust.

(1) Where a trust or a power exercisable under a trust is by the terms thereof, expressed to be -

(a) revocable, whether wholly or in part; or

(b) capable of variation, no such revocation or variation shall prejudice anything lawfully done by a trustee in relation to a trust before he receives notice of such revocation or variation.

(2) Subject to the terms of the trust, if a trust is revoked the trustee shall hold the trust property in trust for the settlor absolutely.

(3) Where a trust is partly revoked subarticle (2) shall apply to the property affected by the revocation.

(4) Where trusts have been settled by more than one settlor and are expressed to be revocable, such trusts may only be revoked with the express consent of all settlors.

(5) Unless the terms of a trust expressly provide that the trust is revocable or capable of variation, the settlor may not revoke or amend the trust instrument.