TERMINATION OF APPOINTMENTS
A trustee may cease to hold office in the following ways:
(a) Disclaimer: At any time before acceptance of the trusts.
(b) Retirement : Either –
1. Under the trust instrument; or
2. With the consent of all beneficiaries, being sui juris, or
3. With the consent of the court; or
4. By deed under S.40, provided that –
- There remain a trust corporation or at least two trustees; and
- He obtains consent by deed of his co-trustees and of any person with power to appoint new trustees.
(c) Release and replacement: This may take place under S.37.
(d) Removal: The trustee may be removed by the court under its inherent power to protect beneficiaries, even though he may have committed no breach of trust.
(e) Discharge: The trustee is automatically discharged on completion of the trust.
(f) Death of trustees