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Short Title \par 2. Fraud \par 3. Matters determined by governing law \par 4. }{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 Comm}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 ity property \par 5. Commencement of proceedings \par 6. Repeals \par \par }\pard \qc \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\fs24\lang2057\langfe5129\langnp2057\insrsid9839245 ------------------------------------}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \qc \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid9839245 1991, No. 32 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid9839245 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 An Act to amend the International Trusts Act 1984 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \qr \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (19 December 1991 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid13046060 BE IT ENACTED}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 by the Parliament of the Cook Islands in Session assembled, and by the authority of the same, as follows: \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par 1. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid14425669 Short Title}{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 This }{\fs24\lang2057\langfe5129\langnp2057\insrsid12785508 A}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 ct may be cited as the International Trusts Amendment Act 1991 and s}{\fs24\lang2057\langfe5129\langnp2057\insrsid12785508 hall be read with and deemed}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 part of the International Trusts }{\fs24\lang2057\langfe5129\langnp2057\insrsid5209058\charrsid7623238 Act 1984 (herein referred to as }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 the "principal Act"). \par \par 2. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid14425669 Fraud}{\fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 - }{\fs24\lang2057\langfe5129\langnp2057\insrsid12785508 Section 13B}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 of the principal Act (as inserted by section }{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 of the International Trusts Amendment Act 19}{\fs24\lang2057\langfe5129\langnp2057\insrsid12785508 8}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 9 and amended by section 3 of the International Trusts }{ \fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 Amendment}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 (No }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 2) Act 1989) is amended by adding after subsection (7) the following subsections - \par \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (8)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 For the purposes of this section}{\fs24\lang2057\langfe5129\langnp2057\insrsid12785508 , -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 the date of the cause of action accruing shall be, the date of that act or om ission which shall be relied upon to either partly or wholly establish the cause of action, and if there is more than one act or the omission shall be a continuing one, the date of the first act or th}{\fs24\lang2057\langfe5129\langnp2057\insrsid12785508 e date that the omission shall have first occurred}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 , as the case may be, shall be the}{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid12785508 date that the }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 cause of action shall have ac}{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 crued.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid14425669\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 the case }{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 of an action upon a judgment, the }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 date of the of}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14425669 cause of}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 action accruing shall be, th}{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 e date of that act or omission or where there is more than one act or the omission shall }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 be a continuing one, the date of the first act or the date that the omission shall have first occurred, as the case may be, which gave rise to the judgment itself. \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (9) The provisions of this section shall apply to all proceedings by every c reditor alleging fraud against a settlor of an international trust, or against any person who shall settle property upon, or dispose of property to, or establish an international trust on behalf of that settlor, to the exclusion of any other remedy, princ iple or rule of law whether provided by statute or founded in equity or common law. \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (10) In this section the term "creditor" includes any person who alleges a cause of action." \par }\pard \qj \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7623238 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 3. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid14425669 Matters determined by governing law}{\fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid14425669 - }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 Section }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14425669 13H}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 of the princip}{\fs24\lang2057\langfe5129\langnp2057\insrsid7166096 al Act (as inserted by section 6}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 of the International Trusts Amendment Act 1989) is amended by adding after subsection (2) the following subsection - \par }\pard \qj \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 "(3) A disposi tion of property located at a place beyond the Cook Islands to an international trust or a trust that shall subsequently become an international trust shall if made in accordance with the law of that place governing such disposition be deemed to be a vali d disposition notwithstanding any law of the Cook Islands to the contrary." \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par 4. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid6956770 Community property}{\fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid6956770 - Th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 e principal Act is amended by inserting after Section 13}{\fs24\lang2057\langfe5129\langnp2057\insrsid6956770 I}{\fs24\lang2057\langfe5129\langnp2057\insrsid7166096 (as inserted by section 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 of the International Trusts Amendment Act 1989) the following section- \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 "13J}{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid6956770 Community property}{\fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid7166096 - }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (1) Where a husband and wife transfer property to an international trust or a trust that subsequently becomes an in ternational trust and, immediately before being transferred, such property or any part or any accumulation thereto is, pursuant to the law of its location or the law of either of the transferors' domicile or residence, determined to be community property, then notwithstanding such transfer and except where the provisions of the trust deed may provide to the contrary, that property and any accumulation thereto shall, for the purposes of giving effect to that law, be deemed to be community property and be de alt with in a manner consistent with that law but in every other respect shall be dealt with in accordance with the trust deed and the governing law of that deed. \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (2) Notwithstanding anything to the contrary herein contained, nothing herein shall be constr ued so as to cause the trust, the trust fund, the trustees or any of them, the protectors or any of them, to be liable or obligated for any debt or responsibility of the settlor merely by reason of this section." \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par 5. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid6956770 Commencement of proceedings}{\fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid6956770 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 The principal Act is amended by inserting after section 13J (as inserted by section 4 of this Act) the following section - \par \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 "13K }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid6956770 Commencement of proceedings}{\fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid7166096 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (1) No action or proceedings whether pursuant to this Act or at common law of in equity to, - \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (a) set aside the settlement of an international trust; or \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (b) set aside any disposition to any international trust, \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 shall be commenced, unless such action or proceedings is commenced, - \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (c) in the High Court of the Cook Islands; and \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid7166096 (d) before the expiration of 2 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 years from the date of, - \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li2160\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin2160\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (i) the settlement of the international trust th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid7166096 at is sought to be set aside; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li2160\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin2160\itap0\pararsid15804588 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (ii) the disposition to the international trust that is sought}{ \fs24\lang2057\langfe5129\langnp2057\insrsid7166096 to be set}{\fs24\lang2057\langfe5129\langnp2057\insrsid16590842\charrsid16590842 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16590842 aside, \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid7166096 {\fs24\lang2057\langfe5129\langnp2057\insrsid7166096 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid7166096 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 as the case may be. \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (2) No action or proceedings whether pursuant to this Act or at common law or in equity shall be commenced by any person, - \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid15804588 (a) claiming to have h}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 ad an interest in property before that property was settled upon or disposed to an international trust; and \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (b) seeking to derive a legal or equitable interest in that property, \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 unless such action or proceedings is comm}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 en}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 ced, -}{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (c) in the High Court of the Cook Islands; and}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (d) before the expiration of 2 years from the date that the property referred to in paragraphs (a) and (b) was settled upon or disposed to an international trust. \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (3) No action or proceeding to which subsections (1) or (2)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15804588 of this section or section 13B}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 shall apply, whether substantive or interlocutory in nature, shall be determined and no order shall be made or granted by the High Court (including any injunction that shall have the effect of preventing the exercise of, or restoring to a person any rights, duties, obligations or powers or preserving, granting custody of, detaining or inspe cting any property) unless, the applicant shall first satisfy the }{\fs24\lang2057\langfe5129\langnp2057\insrsid15804588 H}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 igh Court by affidavit, filed therein, that, - \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (a) the action or proceeding has been commenced in accordance with subsections (1) or (2) of this section; and \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (b) where the action or proceeding shall allege fraud or be founded upon some other action or proceedings alleging fraud, the determination or order sought would not be contrary to the provisions of }{\fs24\lang2057\langfe5129\langnp2057\insrsid15804588 section 13B}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 ; \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (4) Every affidavit required to be filed }{\field\fldedit{\*\fldinst { \fs24\cf0\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 HYPERLINK http://pursuant.to }{\fs24\cf0\lang2057\langfe5129\langnp2057\insrsid349794\charrsid7623238 {\*\datafield 00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b2800000068007400740070003a002f002f007000750072007300750061006e0074002e0074006f002f000000000000}}}{\fldrslt { \fs24\cf0\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 pursuant to}}}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 subsection (2) shall be made by the person on whose behalf the action or proceedings is brought or, in the case of a body corporate, an officer thereof, and every such person}{\fs24\lang2057\langfe5129\langnp2057\insrsid15804588 or officer as the case may be, }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 small depose as to, - \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (a) the circumstances of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 he cause of action in respect of which the action or proceedings are brought; \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (b) the date upon which the cause of action s}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid15804588 all have accrued;}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (c) the date upon which the property, in respect of which the a ction or proceedings is brought, was settled upon or disposed to the international trust; \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li1440\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (d) whether an action or proceedings have been commenced in respect of the cause of action and if so, the date upon which that action or those proceedings were commenced. \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li720\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 (5) The provisions of this section shall apply to every international trust expressed to be governed by the law of the Cook Islands and, in the event that a trust shall be registered as an international trust, and shall change the law by which it sh all be governed to that of the Cook Islands, then every proceeding after the date of registration by a person claiming to be interested in, or to be prejudiced by, the settlement of property upon such trust, or any disposition of property to such trust be f ore registration, shall be commenced subject to subsections (1) and (2) and every determination and order shall be made subject to subsection (3) as if upon the date that such settlement or disposition was made the trust was an international trust governe d by the law of the Cook Islands." \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid9727898\charrsid7623238 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 . }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid6956770 Repeals}{ \fs24\lang2057\langfe5129\langnp2057\insrsid7623238 }{\fs24\lang2057\langfe5129\langnp2057\insrsid6956770 - }{\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 The enactment titled, 13 Elizabeth I Ch 5 (1571) shall have no application to any settlement upon or disposition to an international trust. \par \par }\pard \qc \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid9839245 ------------------------------------}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \ql \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14425669 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 \par }\pard \qc \li0\ri0\widctlpar\tx8931\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid6956770 {\fs24\lang2057\langfe5129\langnp2057\insrsid10500522\charrsid7623238 This Act is administered by the Cook Islands Monetary Board \par }}