Part 1Trusts
Chapter 1Appointment, assumption, resignation, removal and discharge of trustees
Appointment or assumption
4Operation of appointment or assumption as general conveyance of trust property
1
2
3
The appointment of a trustee, on the application under section 66 of an ex officio trustee, operates as a general conveyance of the trust property—
a
in favour, jointly, of the appointed trustee and the existing trustees (other than the applicant), or
b
if there are no existing trustees (other than the applicant), in favour of the appointed trustee.
4
This section applies—
a
irrespective of when the trust was created, but
b
only as respects an assumption which takes place, or an appointment which is made, after the section comes into force.