Part 1Trusts
Chapter 8Powers of the court
Powers in relation to ex officio trustees
I167Office supplying ex officio trustee
1
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.
2
Where the specified office is extant, an application under subsection (1) may also be made by—
a
the holder, or
b
the body of which the holder is an officer.
3
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—
a
that the specification sought is more appropriate to the purposes of the trust than the specification removed, or
b
that the office removed is no longer extant.
4
This section applies irrespective of when the trust was created.