Section 348: Consequence of voidance of trust

1) If a trust once established is dissolved or voided for any reason, such dissolution or voidance shall not affect any act already done or consequence.

2) In the event of dissolution or voidance of a trust for any reason pursuant to sub-section (1), in the case of a public trust, except as otherwise provided for in the memorandum of its incorporation, the trustee may, by order of the registrar, hand over the trust property to any other trust with the identical object or to any public body with similar objects if such other trust is not available, and in the case of a private trust, the trustee shall hand over the trust property to the beneficiary, if identified, or to the nearest successor to the beneficiary if the beneficiary is not available or to the trust founder if even such successor is not available or to other successor if even the trust founder is not available.

3) If any person referred to in sub-section (2) is not available, the property of the dissolved or voided trust shall devolve on the Government of Nepal.