Prospective
(1)Subsection (2) applies where—
(a)by the trust deed, the truster appointed a protector, but
(b)no protector exists or is traceable who has the legal capacity, and is willing and fit, to carry out the duties of that office.
(2)The truster may appoint a new protector.
(3)But if the truster has died or is incapable then, except in so far as the trust deed, expressly or by implication, provides otherwise, the trustees may appoint a new protector in the circumstances mentioned in paragraphs (a) and (b) of subsection (1).
(4)The making of an appointment under subsection (2) or (3) removes any existing protector from office.
(5)This section applies irrespective of when the trust was created.
Commencement Information
I1S. 54 not in force at Royal Assent, see s. 88(3)