Section 6 Resignation of incapable trusteeI1

Scotland Not yet in force

(1)

Where a trustee is incapable, the power in section 5(1) may be exercised by the trustee’s guardian (“G”) on behalf of the trustee (and in such a case, the resignation will, for the purposes of this Act, be treated as a resignation by the trustee).

(2)

But where subsection (3) applies, G may do so only after—

(a)

an additional trustee is assumed under section 3,

(b)

an additional trustee is appointed—

(i)

under section 1 or 2, or

(ii)

by G, or

(c)

a judicial factor is appointed to administer the trust.

(3)

This subsection applies where—

(a)

the incapable trustee is a sole trustee, or

(b)

in G’s opinion, no other trustee exists who is both capable and traceable.

(4)

Any resignation given by G on behalf of the incapable trustee in breach of subsection (2) is of no effect.

(5)

Section 4(2) (general conveyance of trust property) applies to an appointment of a trustee by G under subsection (2)(b)(ii) as it applies to an appointment of a trustee under section 1(1)(b) or 2(1).

(6)

Section 5(5) applies to a resignation given by G on behalf of an incapable trustee in accordance with this section as it applies to a resignation given by a trustee under section 5.

(7)

This section applies—

(a)

irrespective of when the trust was created, but

(b)

only as respects a resignation given after this section comes into force.

Annotations

Commencement

I1: S. 6 not in force at Royal Assent, see s. 88(3)