98. Enforceability of a Foreign Trust

(1) Subject to subsection 98(2), a Foreign Trust shall be regarded as being governed by, and shall be interpreted in accordance with, its Governing Law.

(2) A Foreign Trust shall be unenforceable in the AIFC:

• (a) to the extent that it purports:

(i) to do anything which is contrary to AIFC Law; or

(ii) to confer any right or power or impose any obligation the exercise of which is contrary to AIFC Law; or

• (b) to the extent that the Court declares that the Trust is contrary to public policy in the AIFC, but otherwise shall be enforceable in accordance with its terms and its Governing Law