The
following matters shall be set out in the memorandum of
incorporation of a trust:
(a) Names, surnames and addresses of the founders of the
trust, and, if a body corporate is the founder, names,
surnames and addresses of the directors of such body,
(b) Objects and nature of the trust,
(c) Names, surnames and addresses of the trustees, details
of the business to be performed by them, and, if a body
corporate is a trustee, name, surname and address of
the person designated by the body to act as the trustee,
(d) Details of the beneficiaries,
(e) Method of use of the trust property,
(f) Details of the tenure of the trustee, if any, so specified,
(g) If the beneficiaries are entitled to remuneration or other
facilities, details thereof and limitation,
(h) If the trust is intended to be established for a certain
period, details of such period,
(i) In the event of termination of the trust, consequences
thereof,
(j) Provisions relating to the operation, management and
monitoring of the trust property,
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(k) Other necessary matters.