Section 4Part 1 — Trusts Act
Power of appointing new or additional trustees
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Where a trustee, either original or substituted and whether appointed by the Court or otherwise, is dead, desires to be discharged from all or any of the trusts or powers reposed in or conferred on that trustee, refuses or is unfit to act therein is incapable of acting therein, or is an infant, then, subject to the restrictions imposed by this Act on the number of trustees —
the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust, or
if there is no such person, or no such person able and willing to act, then the surviving or continuing trustee or trustees for the time being, or the personal representatives of the last surviving or continuing trustee, may, by deed, appoint one or more other persons (whether or not being the persons exercising the power) to be a trustee or trustees in the place of the trustee so deceased, desiring to be discharged, refusing or being unfit or being incapable or being an infant, as aforesaid.
Where a trustee has been removed under a power contained in the instrument creating the trust, a new trustee or trustees may be appointed in the place of the trustee who is removed, as if that person were dead, or, in the case of a corporation, as if the corporation desired to be discharged from the trust, and this section shall apply accordingly, but subject to the restrictions imposed on the number of trustees.
Where a corporation, being a trustee, is or has been dissolved, either before or after the commencement date, then, for the purposes of this section, the corporation shall be deemed to be and to have been from the date of the dissolution incapable of acting in the trusts or powers reposed in or conferred on the corporation.
The power of appointment given by subsection (1) or any similar previous enactment to the personal representatives of a last surviving or continuing trustee shall be and shall be deemed always to have been exercisable by the executors for the time being (whether original or by representation) of such surviving or continuing trustee, who have proved the will of their testator or by the administrators for the time being of such trustee without the concurrence of any executor who has renounced or has not proved.
Where a sole trustee, other than a trust corporation, is or has been originally appointed to act in a trust, or where, in the case of any trust there are not more than three trustees (none of them being a trust corporation) either original or substituted and whether appointed by the Court or otherwise, then —
the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust; or
if there is no such person, or no such person able and willing to act, then the trustee or trustees for the time being, may, by deed, appoint another person or persons to be an additional trustee or trustees, but it shall not be obligatory to appoint any additional trustee, unless the instrument, if any, creating the trust provides to the contrary, nor shall the number of trustees be increased beyond four by virtue of any such appointment.
Every new trustee appointed under this section as well before as after all the trust property becomes by law, assurance or otherwise, vested in that trustee, shall have the same powers, authorities and discretions, and may in all respects act as if that person had been originally appointed a trustee by the instrument, if any, creating the trust.
The provisions of this section relating to a trustee who is dead include the case of a person nominated trustee in a will but dying before the testator, and those relating to a continuing trustee include a refusing or retiring trustee, if willing to act in the execution of this section.
Where a person of unsound mind, being a trustee, is also entitled in possession to some beneficial interest in the trust property, no appointment of a new trustee in that person’s place shall be made by the continuing trustees or trustee, under this section, unless leave has been given by the Court to make the appointment. 5. Power to appoint trustees of property belonging to infants or to persons out of the Islands 5 . (1) Where an infant or a person out of the Islands is absolutely entitled under the will or on the intestacy of a person dying before or after the commencement date (in this subsection called “the deceased”) to a devise or legacy, to the residue of the estate of the deceased or any share therein, and such devise, legacy, residue or share is not under the will, if any, of the deceased, devised or bequeathed to trustees for the infant or person out of the Islands, the personal representatives of the deceased may, by writing, appoint a trust corporation of two or more persons not exceeding four (whether or not including the personal representatives or one or more of the personal representatives), to be the trustee or trustees of such devise, legacy, residue or share for the infant or the person out of the Islands and may execute or do any assurance or thing requisite for vesting such devise, legacy, residue or share in the trustee or trustees so appointed. (2) On such appointment under subsection (1), the personal representatives, as such, shall be discharged from all further liability in respect of such devise, legacy, residue or share, and the same may be retained in its existing condition or state of investment, or may be converted into money, and such money may be invested in any investment authorised by this Act . (3) Where a personal representative has, before the commencement date, retained or sold any such devise, legacy, residue or share, and invested the same or the proceeds thereof in any investments in which that person was authorised to invest money subject to the trust, then, subject to any order of the Court made before such commencement date, that person shall not be deemed to have incurred any liability on that account, or by reason of not having paid or transferred the money or property into Court.