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.
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(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 body or 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.