Indian Trusts Act,1882
Act No : 2
Section : Appointment of new trustees on death, etc.
73. Appointment of new trustees on death, etc.-Whenever anyperson appointed a trustee disclaims, or any trustee, either originalor substituted, dies, or is for a continuous period of six monthsabsent from 1*[India], or leaves 1*[India] for the purpose of residingabroad, or is declared an insolvent, or desires to be discharged fromthe trust, or refuses or becomes, in the opinion of a principal CivilCourt of original jurisdiction, unfit or personally incapable to actin the trust, or accepts an inconsistent trust, a new trustee may beappointed in his place by-- (a) the person nominated for that purpose by the instrument or trust (if any), or---------------------------------------------------------------------1 Subs. by the A. O. 1950 for "the Provinces".45 (b) if there be no such person, or no such person able and willing to act, the author of the trust if he be alive and competent to contract, or the surviving or continuing trustees or trustee for the time being, or legal representative of the last surviving and continuing trustee, or (with the consent of the Court) the retiring trustees, if they all retire simultaneously, or (with the like consent) the last retiring trustee. Every such appointment shall be by writing under the hand of theperson making it. On an appointment of a new trustee the number of trustees may beincreased. The Official Trustee may, with his consent and by the order ofthe Court, be appointed under this section, in any case in which onlyone trustee is to be appointed and such trustee is to be the soletrustee. The provisions of this section relative to a trustee who is deadinclude the case of a person nominated trustee in a will but dyingbefore the testator, and those relative to a continuing trusteeinclude a refusing or retiring trustee if willing to act in theexecution of the power.
Read All Comments
