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Article 33 Register of Financial Trusts

A The Agency shall establish a register to be called 'Register of Financial Trusts'. In this Register, detailed data on each Financial Trust shall be recorded, including details of the Identities of the Settler, the Trustee, the Protector of the Trust — if any, and the Beneficiaries if they were identified by name in the Trust Instrument. If the Beneficiary was not identified by name, data leading to his identification shall be recorded, as well as a full summary of the data and information provided for in Article (4) of this Law and any resolution or judgments issued in relation to the Trust.
B It is a requirement for registration in the 'Register of Financial Trusts', that the Trustee must apply to the competent Directorate of the Agency for registration, by an 'Application Form' specifically prepared for this purpose. The Application must be supported by an identical copy of the Trust Instrument and all such data, information and documents, as shall be specified in a resolution of the Governor of the Agency.
C The Trustee shall be issued with a 'Certificate of Registration' in the 'Register of Financial Trusts' according to a 'Form' specifically prepared by the Agency for this purpose. The Trust shall be legally valid only after the registration in the 'Register of Financial Trust'.
D The Trustee and the Protector of the Trust must inform the Agency of any modification of the data, and information recorded in the Register of Financial Trusts. Any concerned party may report this to the Agency.