ACTIn ForceAct
Trustee Act 1925
8Retirement
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8 Retirement
(1) A trustee may by registered deed retire from the trust without any new
trustee being appointed in his or her place.
(2) A trustee may not so retire, unless his or her co-trustees and such other
person (if any) as is empowered to appoint trustees, consent by the
same or other registered deed to the retirement, and there will be left
after the retirement at least 2 continuing trustees, or the public trustee
and guardian, or a trustee company, to perform the trust.
(3) Trustees may retire concurrently.
(4) By the retirement the trustee shall be discharged from the trust,
provided that, if in order to vest any part of the trust property in the
continuing trustees alone, it is necessary that it should be duly
transferred, the retiring trustee shall not be discharged in respect of
that part until it is duly transferred.
(5) At any time after the registration of the deed or deeds of consent and
retirement the continuing trustees shall have the same powers and
discretions, and may in all respects act as if the retiring trustee were
wholly discharged from the trust.
(6) Any conveyance or thing required for vesting the trust property in the
continuing trustees alone shall be executed or done.
(7) Nothing in this section shall authorise any retirement from the office
of an executor or administrator.
(8) This section applies to a trust except so far as the contrary intention