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StatuteTrusts Act 2019

Section 114 — Trusts Act 2019: Court may appoint or replace trustee

Text of the provision Official document

114 Court may appoint or replace trustee (1) Whenever it is necessary or desirable to appoint a new trustee and it is difficult or impracticable to do so without the assistance of the court, the court may make an order appointing a new trustee. (2) However, this section does not empower the court to appoint an executor or administrator. (3) If the court proposes to appoint Public Trust as the replacement trustee, the court must, before making the appointment, give Public Trust an opportunity to be heard on the matter. (4) If the court (except on application by a supervisor within the meaning of section 6(1) of the Financial Markets Conduct Act 2013) appoints Public Trust as the replacement trustee, Public Trust— (a) must accept the appointment; and (b) may charge fees for acting as trustee. Compare: 1956 No 61 ss 46(4), (5) , 51(1), (4)

Official source: legislation.govt.nz

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