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17. Section 300 is modified so as to read as follows—
“300.—(1) This section applies where the appointment of any person as trustee of the members' estates and of the partnership fails to take effect or, such an appointment having taken effect, there is otherwise a vacancy in the office of trustee.
(2) The official receiver may refer the need for an appointment to the Secretary of State and shall be trustee until the vacancy is filled.
(3) On a reference to the Secretary of State under subsection (2) the Secretary of State shall either make an appointment or decline to make one.
(4) If on a reference under subsection (2) no appointment is made, the official receiver shall continue to be trustee, but without prejudice to his power to make a further reference.
(5) References in this section to a vacancy include a case where it is necessary, in relation to any property which is or may be comprised in a member’s estate, to revive the trusteeship of that estate after the holding of a final meeting summoned under section 331 or the giving by the official receiver of notice under section 299(2).”.
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