Cap. 16 Art. 958RProperty in Malta, Maltese or foreign trust, foreign domiciliary.

(1) Where movable or immovable property situated in

Malta has been settled in trust, under the laws of Malta or otherwise, by a person who is not domiciled in Malta at the time of settlement -

(a) such person shall be deemed to have had capacity to do so if at the time of such transfer or disposition he was of full age and sound mind under the law of his domicile and the law of Malta; and

(b) no provision in this Code relating to inheritance or succession to such property including, but without prejudice to the generality of the foregoing, rights to a reserved portion or similar rights applicable under this Code shall apply to such trust property, at such time or subsequently; and

(c) the beneficiaries shall be deemed to have capacity to benefit.

(2) Once property has been settled in trust it shall not be affected by a change of domicile of the settlor, even if the settlor subsequently becomes domiciled in Malta.

(3) For the purposes of this article ''reserved portion'' means the legal rule restricting the right of a person to dispose of his property during his lifetime so as to preserve such property for distribution at his death, or having similar effect.