Cap. 331 ст. 6Validity and recognition of trusts.

(1) When the proper law of a trust is the law of Malta as the chosen applicable law of the trust or as determined in accordance with article 7 of the Convention, notwithstanding the provisions of any other law, the validity of the trust, its construction, its effects and the administration of the trust shall be governed by this Act and other provisions of Maltese law on trusts.

(2) When the proper law of a trust is a foreign law as the chosen applicable law of the trust or as determined in accordance with article 7 of the Convention, notwithstanding the provisions of any other law, the validity of the trust, its construction, its effects and the administration of the trust shall be governed by such foreign law and shall be recognised and given effect to in Malta in accordance with the Convention and this Act.

(3) The administration of a trust may be regulated by a law different from the proper law of the trust.

(4) Trusts created or recognised in accordance with this Act are not prohibited by articles 331, 757 to 761 and 1776 of the Civil Code.

(5) Article 586 of the Civil Code shall not affect any term of a trust because it relates to the inheritance of the settlor or because a disposition relating to property under trusts is to take effect after the death of the settlor.

(6) Subject to the provisions of article 11 and article 21(7), when a commercial transaction includes the appointment of a trustee to hold property under trusts in relation to such transaction, the trust shall operate in accordance with the express terms of the trust instrument.