Section 67 Office supplying ex officio trusteeI1
Scotland Not yet in force
Where the holder of an office specified in a trust deed is (in terms of the trust deed) eligible to be a trustee by virtue only of being the holder of that office, the court may remove the specification of the office from the trust deed on the application of the trustees.
Where the specified office is extant, an application under subsection (1) may also be made by—
the holder, or
the body of which the holder is an officer.
If an application under subsection (1) seeks the specification of a different office in substitution for the specification removed, the court may make that substitution if satisfied either—
that the specification sought is more appropriate to the purposes of the trust than the specification removed, or
that the office removed is no longer extant.
This section applies irrespective of when the trust was created.
Annotations
Commencement
- I1
S. 67 not in force at Royal Assent, see s. 88(3)