Bruce Stephens Trust

Link to law: http://rgd.legalaffairs.gov.tt/Laws2/Alphabetical_List/lawspdfs/9.32.pdf

Bruce Stephens Trust
BRUCE STEPHENS TRUST ACT

CHAPTER 9:32

LAWS OF TRINIDAD AND TOBAGO

Act
6 of 1933

Amended by
24 of 1933

130 of 1947
25 of 1949

*24 of 1955
149 of 1959

62 of 1968
45 of 1979

*Ordinance 24 of 1955 [Bruce Stephens Trust
(Alphonse Perrin Pension) Ordinance] has been
incorporated in this Act as section 17(3) and (4).

L.R.O.

Current Authorised Pages
Pages Authorised

(inclusive) by L.R.O.
1–19 ..

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Index of Subsidiary Legislation
Page

Bruce Stephens Provident Fund Rules (GN 234/1949) … … … 14

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Bruce Stephens Trust Chap. 9:32 3

CHAPTER 9:32

BRUCE STEPHENS TRUST ACT

ARRANGEMENT OF SECTIONS

SECTION

1. Short title.
2. Interpretation.
3. Transfer of shares of the Company to the Trustees.

Vesting of property of the Company in Trinidad and Tobago in
the Trustees.

Transfer of other property of the Company to the Trustees.
4. Income of property pending transfer to be paid to Trustees.
5. Notice to creditors of Company and dissolution of Company.
6. Indemnity to Trustees and officers of the Company.
7. Any future property given by the Donor to the Trustees to form part

of the Trust.
8. Trustees—Appointment and resignation.
9. Incorporation of Trust and seal.

10. Investment of Trust Funds.
11. Trustees’ powers of management of land.
12. Reserve Fund.
13. Financial year.
14. Chairman of Trustees and quorum.
15. Minutes of meetings of Trustees.
16. Secretary to the Trust.
17. Provident Fund contributions, etc., not assignable, etc.

Certain employees of the Trust ineligible for Provident Fund benefits
but entitled to pension.

Pension and Gratuity payable to Alphonse Perrin.
Pension and gratuity payable under this Ordinance to be in lieu of

pension or gratuity payable under Principal Ordinance.
18. Objects of the Trust.
19. Variation of objects of Trust.
20. Report and audited accounts to be furnished annually.

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21. Indemnity to Trustees.
22. Exemption in respect of stamp duties and registration fees.
23. Exemption in respect of income tax.
24. Rules.

FIRST SCHEDULE.
SECOND SCHEDULE.

ARRANGEMENT OF SECTIONS—Continued
SECTION

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CHAPTER 9:32

BRUCE STEPHENS TRUST ACT

An Act to create a Trust Fund to be known as the Bruce
Stephens Trust and to provide for the appointment of
Trustees of such Fund and the management thereof.

[13TH APRIL 1933]

WHEREAS John Walker Stephens lately of Trinidad and Tobago has
expressed the desire to set apart certain of his property in trust for
the benefit of the persons and for the objects hereinafter in this Act
specified:

And whereas a considerable portion of such property as aforesaid
consists of shares held by the said John Walker Stephens or his
nominees in Les Lilas Limited and it is desirable to provide for the
transfer of such shares and the property of the Company to the
Trustees and for the subsequent dissolution of the Company:

And whereas it is also desirable that such trust should be created
by Act and that the terms of the Trust as approved by the said John
Walker Stephens should be included in such Act:

1. This Ordinance may be cited as the Bruce Stephens
Trust Act.

2. In this Act—
“the Donor” means the said John Walker Stephens and for the

purposes of section 3 shall include his executors or
administrators;

“the Bruce Stephens Trust,” hereinafter referred to as “the Trust”,
shall consist of and mean and include the property, moneys
and other assets referred to in sections 3 and 7;

“the Trustees” means the persons for the time being appointed to
be Trustees in accordance with section 8;

“the Company” means Les Lilas Limited, a Company
incorporated in Trinidad and Tobago under the provisions of
the Companies Act.

1950 Ed.
Ch. 13. No. 3.
6 of 1933.

Commencement.

Short title.

Interpretation.

Ch. 81:01.

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3. (1) As soon as practicable after the commencement of
this Act, the Donor shall transfer or cause to be transferred into the
names of the Trustees the whole of the shares standing in his name
or in the name or names of nominees in his behalf in the Company.

(2) Upon the transfer of such shares as aforesaid and from
the date of registration thereof all real and personal property of
whatsoever description in Trinidad and Tobago then held by and
vested in the Company shall notwithstanding any provisions of
the Real Property Act or any other written law be held by and
vested in the Trustees for the same estates and interests as and to
the extent to which the same were respectively previously held by
or vested in the Company, subject to any encumbrances, estates,
interests, rights or easements (if any) then affecting the same.

The Registrar General shall endorse a memorial of such vesting
on the certificate of title of every parcel of land held by the
Company under the provisions of the Real Property Act.

(3) The Company shall execute all Deeds and such other
instruments as may be necessary for transferring and effecting the
transfer to and vesting in the Trustees of all real and personal
property situate outside Trinidad and Tobago of whatsoever
description and wherever so situate held by and vested in the
Company for the same estates and interests as to the extent to which
the same were respectively previously held by and vested in the
Company, subject to any encumbrances, estates, interests, rights
or easements (if any) then affecting the same.

4. Pending the transfer of the shares and other property of
the Company to the Trustees as provided for in section 3 any income
received by the Company in respect of such shares or other property
shall be paid by the Company to the Trustees.

5. (1) Upon transfer of the shares of the Company to the
Trustees and within one month of the date of registration thereof,
the Trustees shall by notice in the Gazette require creditors of the
Company (if any) to send in their claims in writing to the Trustees
within one month of the date of such notice and upon the expiration

Transfer of
shares of the
Company to the
Trustees.

Vesting of
property of the
Company in
Trinidad and
Tobago in the
Trustees.

Ch. 56:02.

Transfer of other
property of the
Company to the
Trustees.

Income of
property
pending transfer
to be paid to
Trustees.

Notice to
creditors of
Company and
dissolution of
Company.

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of such period the Trustees shall out of moneys accruing to the
Trust settle and discharge all claims in respect of which the
Company is liable.

(2) Upon application in writing by the Trustees the
Registrar General shall upon production of such evidence as he
may require that all claims and liabilities of the Company have
been settled and discharged strike the name of the Company
off the register and thereupon the Company shall be deemed to
be dissolved.

6. After the dissolution of the Company, no action, suit,
prosecution or other legal proceeding shall lie or be instituted
against any Trustee or director or officer of the Company in respect
of any claim against the Company or against any director or officer
of the Company as such for anything in good faith done, intended
to be done or omitted to be done prior to the date of dissolution.

7. Any other real or personal property of whatsoever
description and wheresoever situate that may from time to time
hereafter be granted, conveyed, transferred or assigned by the
Donor to the Trustees shall, subject to any encumbrances, estates,
interests, rights or easements (if any) then affecting the same, be
held by the Trustees as part of the Trust and be subject in all respects
to the provisions of this Act.

8. (1) The Trustees shall consist of not more than six persons
nor less than three persons to be appointed by the President by
instrument under his hand.

(2) The Trustees shall hold office for a period of three
years from the date of their respective appointments but may be
reappointed by the President.

(3) Any Trustee may at any time by Order of the President
be removed from the office of Trustee, and from the date of such
Order the Trustee named therein shall cease to be a Trustee.

(4) Any Trustee may at any time resign his office by
instrument in writing addressed to the President, and from the date

Indemnity to
Trustees and
officers of the
Company.

Any future
property given
by the Donor to
the Trustees to
form part of the
Trust.

Trustees—
Appointment
and resignation.

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of such instrument such Trustee shall cease to be a Trustee and the
vacancy caused by such resignation shall thereupon be filled by
the President.

9. The Trustees are hereby incorporated and may sue and be
sued under the name of “The Bruce Stephens Trust” and shall have
perpetual succession and an official seal which shall be officially
and judicially noticed, and by instrument under such seal may sell,
convey, lease, assign, demise or otherwise dispose of any land or
any interest therein or any other property, and the seal shall be
authenticated by the signature of the Chairman of the Trustees and
one other Trustee.

10. The Trustees shall at such times as they in their absolute
discretion think fit realise any of the property of the Trust and re-
invest the moneys arising from such realisation in such securities
of whatever nature as they in their absolute discretion think fit.

11. If and as long as any property of the Trust consists of land
the Trustees shall manage or superintend the management of such
land with full power to appoint and pay a manager and other persons
for the management, cultivation or maintenance of such land or
any part thereof either in its existing form of cultivation or
plantation or otherwise and may do all things needful or requisite
for the development, preservation or maintenance of such land,
including the power to lease the whole or any part of the same for
any purpose and to accept surrenders of such leases as they in
their absolute discretion think fit, and any expenses incurred in
the exercise of the powers contained herein shall be charged against
the income of the Trust.

12. (1) The Trustees shall establish a Reserve Fund and shall
pay into it at the expiration of each financial year not less than
one-fifth of the income of the Trust received by them during the
preceding financial year.

(2) Separate accounts of the Reserve Fund shall be kept
and such Reserve Fund shall be utilised firstly in making good
any loss by realisation of any of the property of the Trust, and

Incorporation of
Trust and seal.

Investment of
Trust Funds.

Trustees’ powers
of management
of land.

Reserve Fund.

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secondly, with the consent of the majority of the Trustees, in
providing moneys for expenditure of any extraordinary nature
which may be necessary or desirable in carrying out the objects of
the Trust.

(3) All moneys accruing to the Reserve Fund and not for
the time being required by the Trustees for the purposes specified
in subsection (2) may from time to time be invested by the Trustees
in accordance with the provisions of section 10, and the interest
accruing from any such investments shall be credited to the Trust.

13. The financial year of the Trust shall be the calendar year
ending on 30th June in each year.

14. (1) The Chairman of the Trustees shall be such one of
the Trustees as may from time to time be nominated by the
President, and such Chairman shall have a casting as well as a
deliberative vote.

(2) Three Trustees shall constitute the quorum necessary
to constitute a meeting of the Trustees.

(3) In the absence of the Chairman the Trustees shall
appoint one of their number to act as Chairman of any meeting.

15. The Trustees shall keep or cause to be kept minutes of the
proceedings of all meetings of the Trustees.

16. (1) Subject to the provisions of subsection (2) the Trustees
may appoint a Secretary or an Assistant Secretary to the Trust who
shall receive such remuneration as the Trustees think fit, but no
Trustee appointed or acting as Secretary or Assistant Secretary
shall receive any remuneration for his services.

(2) Miss Olive Kelshall of Port of Spain shall be the
Secretary to the Trust and shall, subject as hereinafter provided,
continue to be such Secretary during her lifetime and shall be
paid by the Trustees a salary at the rate of not less than seven
hundred and twenty dollars a year during such time as she shall
be Secretary to the Trust, provided that she may at any time resign

Financial year.

Chairman of
Trustees and
quorum.

Minutes of
meetings of
Trustees.

Secretary to the
Trust.

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the office of Secretary to the Trust; and if at any time in the opinion
of the President she has become incompetent or unable to carry
out the duties of her office or has been guilty of such conduct as
renders it desirable that she shall cease to be such Secretary, the
President may order that she shall cease to be such Secretary and
thereupon the Trustees may appoint some other person to be
Secretary to the Trust.

(3) Upon resignation of the office of Secretary to the Trust
the Trustees may if in their opinion the said Miss Olive Kelshall
has faithfully and diligently performed the duties of Secretary to
the Trust for a period of not less than five years grant to her an
annual pension of four hundred and eighty dollars a year payable
out of the income of the Trust.

17. (1) No contribution, bonus or interest thereon paid by, or
credited to the account of, a contributor to any Provident Fund
established and maintained by the Trustees for the benefit of the
staff of the Trust shall be assignable or transferable or liable to be
attached, sequested or levied upon for or in respect of any claim
whatsoever except a debt due to the Trust.

(2) Notwithstanding anything contained in the rules for
the governance of any Provident Fund established and maintained
by the Trustees for the benefit of the staff of the Trust, the persons
named in the First Schedule being on 19th November 1949,
members of the staff of the Trust holding the offices indicated in
the said Schedule shall not be eligible to be contributors to such
Provident Fund but shall, on their retirement from the service of
the Trust, be paid from the funds of the Trust such pensions as
they would have been respectively entitled to if they had been
public officers within the meaning of the Pensions Act.

(3) Notwithstanding the provisions of subsection (2),
there may be paid from the funds of the Trust to Alphonse Perrin,
Manager, Les Lilas Estates, on his retirement from the service of
the Trust, a pension at the rate of one thousand three hundred
and fifty dollars a year and a gratuity of four thousand five
hundred dollars.

Provident Fund
contributions,
etc., not
assignable, etc.

Certain
employees of
Trust ineligible
for Provident
Fund benefits
but entitled to
pension.
First Schedule.

Ch. 23:52.

Pension and
Gratuity payable
to Alphonse
Perrin.

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(4) The pension and gratuity payable under and by virtue
of subsection (3) shall be in lieu of any other pension or any other
pension and gratuity which, but for the provisions of that subsection
might have been payable to the said Alphonse Perrin under and by
virtue of the provisions of the Act.

18. (1) Subject to the provisions of sections 16 and 17 the
Trustees shall apply the income arising from the Trust in carrying
out the objects specified in the Second Schedule.

(2) The Trustees or any relative of any Trustee within the
first or second degree of consanguinity and any person not domiciled
or resident in the former British West Indies or in former British
Guiana shall be excluded from receiving any benefit under the Trust.

19. The President may at the request of the Trustees by Order
publish in the Gazette, add to, vary or limit the objects of the Trust
as set out in the Second Schedule.

20. The Trustee shall furnish to the President as soon as
possible after the expiration of each financial year a report upon
the administration of the Trust together with a balance sheet and
statement of the revenue and expenditure of the Trust duly audited
by the Auditor General.

21. No Trustee shall incur any personal liability for any loss
or damage occasioned by any act in the administration of the Trust
unless such loss or damage is occasioned by an intentionally
wrongful act on his part.

22. Notwithstanding anything contained in the Stamp Duty
Act or the Registrar General Act any instruments necessary for
transferring to or vesting any property in the Trustees upon which
or in respect of which stamp duties or registration fees are payable
to the Government shall be exempt from the payment of such stamp
duties or registration fees.

23. Notwithstanding anything contained in the Income Tax
Act the income of the Trust shall be wholly exempt from
payment of any income tax.

Pension and
gratuity payable
under this
Ordinance to be
in lieu of
pension or
gratuity payable
under Principal
Ordinance.

Objects of the
Trust.

Second
Schedule.

Variation of
objects of Trust.
Second
Schedule.

Report and
audited accounts
to be furnished
annually.

Indemnity to
Trustees.

Exemption in
respect of stamp
duties and
registration fees.
Ch. 76:01.
Ch. 19:03.

Exemption in
respect of
income tax.
Ch. 75:01.

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24. (1) The Trustees, with the approval of the President,
may make Rules for the maintenance and administration of
any provident fund established under this Act for employees
of the Trust.

(2) The Bruce Stephens Provident Fund Rules shall be
deemed to have been made under this section.

Rules.
[45 of 1979].

Sub. Leg.

(Section 17).

(Section 18).

[149/1959
62/1968].

FIRST SCHEDULE
E. de Mesquita, Secretary to the Trust.
Alfonse Perrin, Manager, Les Lilas Estates.

SECOND SCHEDULE

OBJECTS OF THE BRUCE STEPHENS TRUST

I. DISTRESS

To assist in the relief of those in distress, either by maintenance in institutions,
in homes, or by gifts in money or kind.

II. CONVALESCENCE

To assist in providing for convalescence of persons recovering from illness
or accident or overwork, either by maintenance in institutions, in homes, or by
gifts in money or kind.

III. SURGICAL AID

To assist in providing artificial limbs, artificial eyes, spectacles and lenses,
trusses, surgical boots, elastic stockings, crutches, and such like surgical
requirements to those in need.

IV. NURSING

To assist in providing for qualified nursing and maternity assistance for those
in need, either in institutions, or in homes.

V. DISPENSARIES

To assist in providing medical, surgical and dental relief to those whose
income is inadequate to meet the ordinary charges for medical, surgical or
dental attendance.

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VI. CHILD WELFARE AND MOTHERCRAFT

To assist in providing for instruction and demonstration of the principles of
child welfare and mothercraft either by the provision of institutions, of equipment
or of staff.

VII. DAY NURSERIES

To assist in providing, equipping and maintaining day nurseries for the care
of infants and children.

VIII. BLIND, DEAF, DUMB AND CRIPPLED

To assist in providing maintenance for the blind, deaf, dumb and crippled
either in institutions, in homes or by gifts in money or kind.

To assist in educating blind people.

IX. EDUCATION

To assist in the education of necessitous persons in agriculture, technology,
the professions, trade or handicraft either by assisting the establishment of
institutions or by exhibitions, scholarships or grants-in-aid.

X. RECREATION

To assist in providing and equipping open spaces as public recreation grounds
and parks and to assist in organised holiday entertainments and recreations.

XI. HOUSING

To assist in providing better housing for persons in receipt of incomes of less
than four hundred and eighty dollars a year either by providing capital at low
rates of interest or by grants-in-aid.

XII. ADMINISTRATION

To provide buildings, staff, equipment, and other facilities necessary for the
administration and for the management, accounting and auditing of the Trust.

To establish and maintain a Provident Fund for the benefit of such past or
present members of the Staff as the trustees think fit subject to such conditions
as the President may impose or in lieu thereof to pay to such officers in
accordance with section 17 of the Act such pension as may be recommended by
the Trustees of the Board and approved by the President.

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SUBSIDIARY LEGISLATION

BRUCE STEPHENS PROVIDENT FUND RULES

ARRANGEMENT OF RULES
RULE

1. Citation.
2. Interpretation.
3. Establishment of the Fund.
4. Source of Fund.
5. Who may become contributors.
6. Contribution.
7. Bonuses.
8. Interest.
9. Provision for services.

10. Investment.
11. Accounts.
12. Refund of contributions.
13. Age of retirement.
14. Decision of Trustees to be binding.
15. Loss or debt due to the Trust.
16. Benefits.
17. Amendment of Rules.
18. Suspension of grants and contributions.
19. Decision of Trustees.

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[Subsidiary]

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BRUCE STEPHENS PROVIDENT FUND RULES

deemed to be made under section 24

1. These Rules may be cited as The Bruce Stephens Provident
Fund Rules.

2. In these Rules—
“bonus” means the sum of money credited to a contributor’s

account by the Trustees out of the general fund of the Trust
under rule 7;

“contribution” means the sum of money contributed to the Fund
by an employee under rule 6;

“contributor” means an employee who contributes to the Fund and
is entitled to the benefits thereof;

“employee” means a whole time employee of the Trust;
“Fund” means the Provident Fund established under rule 3;
“salary” means gross salary and includes allowances and other

emoluments;
“Trustees” means the persons for the time being appointed to be

Trustees of the Bruce Stephens Trust in accordance with
section 8 of the Act;

“Trust” means the Bruce Stephens Trust as defined in the Act.

3. The Trustees shall, subject to the provisions hereof,
establish, maintain and administer a fund to be known as “The
Bruce Stephens Provident Fund” for the purpose of providing for
employees of the Trust the benefits hereinafter specified.

4. The Fund shall consist of—
(a) Contribution and bonuses,
(b) Interest thereon, and
(c) Moneys contributed by the Trustees out of the

general fund of the Trust to provide for benefits
in respect of past services of contributors.

234/1949.
[68/1970].

Citation.

Interpretation.

Establishment of
the Fund.

Source of Fund.

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5. All persons who are employees shall become contributors
to the Fund provided however that it shall not be compulsory for
employees, who were in the service of the Trust prior to the date on
which these Rules shall come into force, to become such contributors.

6. (1) There shall be paid into the Fund at the close of each
month by every contributor an amount equal to four per cent of
his salary for that month.

(2) The amounts paid into the Fund under this rule shall
be deducted from each payment of salary to every contributor by
the Trustees.

7. At the close of each month there shall be credited to the
account of each contributor by the Trustees out of the general fund
of the Trust an amount equal to eight per cent of such contributor’s
salary for the month.

8. Interest at the rate of three per cent a year shall be credited
to each contributor’s account by the Trustees on the 30th June in
each year on the amount then standing to the credit of each
contributor’s account, provided that in the event of a contributor’s
account being closed during the course of any year, such interest
will be deemed to have accrued from day to day and the
proportionate part of such yearly interest shall be credited to his
account accordingly.

9. The Trustees shall credit the account of every contributor,
who was an employee of the Trust prior to the date on which these
Rules shall come into force, with a sum which would be equivalent
to the bonuses payable by the Trustees and interest on such bonuses
from the date of such contributor having first become an employee
to the date he becomes a contributor.

10. The moneys of the Fund or any part thereof may at the
discretion of the Trustees be invested by the Trustees in such
security or securities as the Trustees shall under the Act be entitled
to invest moneys.

Who may
become
contributors.

Contribution.

Bonuses.

Interest.

Provision for
services.

Investment.

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11. (1) The Trustees shall cause to be kept proper accounts
and books in relation to the Fund.

(2) A separate account for each contributor shall be kept
in the books of the Fund in which shall be entered separately all
contributions, bonuses and interest.

(3) As soon as the accounts of the year are closed each
contributor shall be furnished by the trustees with a statement
showing the amount to his credit at the close of the year by way of
contributions, bonuses and interest; such statement shall be deemed
to be accepted as correct if no objection shall have been made
thereto within thirty days after the date of rendering.

(4) On the death of a contributor or on the termination of
the contributor’s service with the Trust the account of such
contributor shall be closed.

12. (1) Subject to subrule (2), a contributor shall have no claim
whatever to a refund or to payment of any part of the amount
standing to the credit of his account so long as he is in the service
of the Trust.

(2) A member of the staff of the Trust, who ceases to be a
contributor by reason of provision being made for him to be paid a
pension from the funds of the Trust, shall have his contributions
refunded to him, though he remains in the service of the Trust.

13. Contributors to the Fund shall retire from the service of
the Trust at the age of fifty-five years unless the Trustees desire to
retain the service of such contributor for a longer period. Each
contributor shall upon becoming a contributor forward to the
Trustees his birth certificate and such further evidence concerning
his age as the Trustees may reasonably require.

14. The records of the Trust and the decision of the
Trustees concerning the age and length of service and amount
of earnings of any contributor shall be conclusive and binding
on every contributor.

Accounts.

Refund of
contributions.
[68/1970].

Age of
retirement.

Decision of
Trustees to be
binding.

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15. In the event of the dismissal of a contributor from the
service of the Trust for dishonesty or other act by which the Trust
has suffered loss, the Trustees shall be entitled to deduct from any
moneys payable to such contributor hereunder so much of such
moneys as is necessary to make good such loss and the balance (if
any) shall be payable to such contributor subject, however, to the
provisions of these Rules.

16. Subject to the provisions herein contained—
(a) in the event of a contributor being permitted or

requested by the Trustees to retire from the
service of the Trust on account of ill-health on a
certificate of a Medical Board, or for the purpose
of effecting economy or in the event of a
contributor’s death while in the service of the
Trust, the whole amount standing to his credit
in the books of the Fund shall be payable to him
or to his legal personal representative or
representatives as the case may be;

(b) if any contributor shall retire from the service of
the Trust not having completed 10 years’ service,
such contributor shall be entitled to receive a sum
representing the total of all his contributions and
interest thereon together with a sum representing
one-tenth part of the bonuses credited to his
account and interest thereon in respect of each
complete year of such contributor’s service;

(c) should any contributor whose service with the
Trust amounts to 10 years or more retire from the
service of the Trust, such contributor shall be
entitled to receive the full amount of all moneys
standing to the credit of his account at the date of
his retirement;

(d) if a contributor is requested by the Trustees to
retire from the service of the Trust (except where
such request is on the ground of ill-health or for

Loss or debt due
to the Trust.

Benefits.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt

Bruce Stephens Provident Fund Rules [Subsidiary]

L.R.O.

LAWS OF TRINIDAD AND TOBAGO

Bruce Stephens Trust Chap. 9:32 19

the purpose of effecting economy) or is dismissed
from the service of the Trust for any reason
whatsoever he shall upon the termination of his
service subject to rule 15 be entitled to and be
paid a sum equal to the amount of his contribution
and interest thereon only to the date of retirement
or dismissal.

17. The Trustees may from time to time with the sanction of
the President alter and amend these rules and with the like sanction
may substitute other rules for the management and working of the
Fund, but should such alteration curtail the rights or increase the
obligations of contributors, any contributor shall be entitled by
notice in writing given within 30 days of any such alteration to
retain his rights, privileges and benefits under these Rules.

18. The Trustees may at any time, if they think necessary,
suspend contributions and bonuses for any period of time, and
may at any time, notwithstanding anything to the contrary herein,
close the Fund to new contributors, and may at any time discontinue
or wind up the Fund; except that if the Fund is discontinued or
wound up all moneys standing to the credit of the accounts of
contributors shall forthwith be paid to the contributors.

19. In all matters the decision of the Trustees shall be final
and all contributors shall be taken to have accepted this and all the
foregoing Rules as a condition of their becoming contributors.

Amendment of
Rules.

Suspension of
grants and
contributions.

Decision of
Trustees.

UNOFFICIAL VERSION


UPDATED TO DECEMBER 31ST 2014

MINISTRY OF LEGAL AFFAIRS www.legalaffairs.gov.tt
Read Entire Law on rgd.legalaffairs.gov.tt