SCHEDULE 1Minor and consequential amendments of the 1985 Act

23

1

Section 24 (election of permanent trustee) is amended as follows.

2

In subsection (2), for the word “permanent”, where it first and second occurs, substitute “ replacement ”.

3

In subsection (3), for the words “election of the permanent trustee” substitute “ trustee vote ”.

4

In subsection (3A)—

a

for the word “interim” substitute “ original ”;

b

in paragraph (a), for the words “election of the permanent trustee” substitute “ trustee vote ”;

c

in paragraph (b), for the word “permanent” substitute “ replacement ”; and

d

for the words “section 25A of this Act shall apply” substitute “ shall continue to act as the trustee ”.

5

In subsection (4)—

a

for the word “interim”, where it first and second occurs, substitute “ original ”;

b

for the words “election of the permanent trustee” substitute “ trustee vote ”;

c

for the word “permanent”, where it second occurs, substitute “ replacement ”; and

d

after paragraph (b), insert— “ and he shall continue to act as the trustee. ”.