(1)The court may, whenever it is expedient to appoint a new trustee or new trustees, and it is found inexpedient difficult or impracticable so to do without the assistance of the court, make an order appointing a new trustee or new trustees either in substitution for or in addition to any existing trustee or trustees, or although there is no existing trustee.
In particular and without prejudice to the generality of the foregoing provision, the court may make an order appointing a new trustee in substitution for a trustee who . . . F1 [F2lacks capacity to exercise][F3his functions as trustee], or is a bankrupt, or is a corporation which is in liquidation or has been dissolved.
F4(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)An order under this section, and any consequential vesting order or conveyance, shall not operate further or otherwise as a discharge to any former or continuing trustee than an appointment of new trustees under any power for that purpose contained in any instrument would have operated.
(4)Nothing in this section gives power to appoint an executor or administrator.
Textual Amendments
F1Words repealed by Criminal Law Act 1967 (c. 58), Sch. 3 Pt. III
F2Words in s. 41(1) substituted (1.10.2007) by Mental Capacity Act 2005 (c. 9), s. 68(1), Sch. 6 para. 3(3) (with ss. 27-29, 62); S.I. 2007/1897, art. 2(1)(d)
F3Words substituted by Mental Health Act 1959 (c. 72), Sch. 7 Pt. I
F4S. 41(2) omitted (1.10.2015) by virtue of Deregulation Act 2015 (c. 20), s. 115(7), Sch. 6 para. 2(3) (with Sch. 6 para. 3); S.I. 2015/1732, art. 2(e)(i)
Where the court appoints a corporation, other than the Public Trustee, to be a trustee either solely or jointly with another person, the court may authorise the corporation to charge such remuneration for its services as trustee as the court may think fit.
Every trustee appointed by a court of competent jurisdiction shall, as well before as after the trust property becomes by law, or by assurance, or otherwise, vested in him, have the same powers, authorities, and discretions, and may in all respects act as if he had been originally appointed a trustee by the instrument, if any, creating the trust.