Trustee may appoint a trustee company a trustee
24 Trustee may appoint a trustee company a trustee
Subject to subsection (2), any trustee may appoint a trustee company to be trustee in his or her place.
Unless under the instrument creating the power or trust or under some other Act the trustee is authorised to appoint another person as trustee any appointment under subsection (1) is subject to the consent of the Court.
Section 21(2) to (5) shall apply to an appointment under this section.
Where a trustee company is appointed a trustee under this section, the trustee company may perform and discharge all the acts and duties, and shall be liable to all the obligations, pertaining to the office of the trustee in whose place it is appointed and the person so appointing the trustee company is released from liability in respect of all acts done by or omitted to be done by the trustee company acting under an appointment pursuant to this section.
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