When a corporate trustee is deregistered and trust property vests in the Commonwealth under s 601AD(1A) of the Corporations Act 2001 (Cth), a new trustee may be appointed under the trust deed or s 12(1) of the Trusts Act 1973 (Qld) without the consent of or notice to the Commonwealth. The word 'dissolved' in s 12(1)(h) of the Trusts Act covers deregistration. Mere service of a bankruptcy notice does not make a person 'subject to any bankruptcy law' for the purpose of trust deed provisions requiring vacation of office; a sequestration order or assignment for the benefit of creditors is required.
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