Legal Alert: The Law on Trust

It has been almost three years and a half now since the promulgation of the Law on Trust (“LoT”) in January 02, 2019. Noticeably, following the introduction of the LoT, some relevant regulations have been issued to provide further details and instruction on the establishment and registration procedure, licensing and approvals, obligation and responsibilities of the trustee and so on. The LoT is perceived to be one among other key legal instruments to open the door for diverse investment schemes, which intends to provide more assurance and protection to the trustor or owner of legal interests in the trust.

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Law on Trust