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Section 3 Assumption of additional trusteeI1

Scotland Not yet in force

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Except in so far as the trust deed, expressly or by implication, provides otherwise (or, in a case where there is no trust deed, the context requires or implies otherwise), the trustees may assume an additional trustee.

(2)

Subsection (3) applies where—

(a)

a protector has been appointed in respect of the trust,

(b)

there has been conferred on the protector, by virtue of paragraph (b) of section 53(3), the power to direct the assumption of an additional trustee, and

(c)

the protector gives such a direction.

(3)

An additional trustee must, without delay, be assumed by the other trustees.

(4)

This section applies irrespective of when the trust was created.

Annotations

Commencement

I1

S. 3 not in force at Royal Assent, see s. 88(3)