Section 345: Duty to maintain ownership of trust property

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1) The trust property shall be entered as such in the records of trust and held in the name of the person specified in the memorandum of incorporation and in the name of the beneficiary, if such a person is not specified in the memorandum of incorporation.

2) If, in the case of a public trust, the memorandum of incorporation provides for the establishment of a separate body corporate for the operation and management of the trust property, such property shall be held in the name of the body corporate so established.

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Section 345: Duty to maintain ownership of trust property

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