sec.13Persons who can not be appointed as trustees

sec.13 Persons who can not be appointed as trustees

The following persons can not be appointed as a trustee— a child; an individual who is an insolvent under administration; a corporation that is a Chapter 5 body corporate; a person who is disqualified from being appointed as a trustee by an order made under section 168 . The purported appointment of a person mentioned in subsection (1) (a) , (b) , (c) or (d) is of no effect. Subsections (1) (b) and (c) and (2) do not affect the appointment of— an individual who becomes an insolvent under administration after the individual’s appointment as trustee has taken effect; or a corporation that becomes a Chapter 5 body corporate after the corporation’s appointment as trustee has taken effect. See, however— sections 20 , 23 and 29 in relation to the replacement and removal of a trustee who becomes an insolvent under administration; and sections 20 and 29 in relation to the replacement and removal of a trustee that becomes a Chapter 5 body corporate. This section does not apply in relation to the appointment of a personal representative. Also, to remove any doubt, it is declared that this section does not limit the court’s power to declare that a person mentioned in subsection (1) (a) , (b) , (c) or (d) holds property as a trustee. (sec.13-ssec.1) The following persons can not be appointed as a trustee— a child; an individual who is an insolvent under administration; a corporation that is a Chapter 5 body corporate; a person who is disqualified from being appointed as a trustee by an order made under section 168 . (sec.13-ssec.2) The purported appointment of a person mentioned in subsection (1) (a) , (b) , (c) or (d) is of no effect. (sec.13-ssec.3) Subsections (1) (b) and (c) and (2) do not affect the appointment of— an individual who becomes an insolvent under administration after the individual’s appointment as trustee has taken effect; or a corporation that becomes a Chapter 5 body corporate after the corporation’s appointment as trustee has taken effect. See, however— sections 20 , 23 and 29 in relation to the replacement and removal of a trustee who becomes an insolvent under administration; and sections 20 and 29 in relation to the replacement and removal of a trustee that becomes a Chapter 5 body corporate. (sec.13-ssec.4) This section does not apply in relation to the appointment of a personal representative. (sec.13-ssec.5) Also, to remove any doubt, it is declared that this section does not limit the court’s power to declare that a person mentioned in subsection (1) (a) , (b) , (c) or (d) holds property as a trustee.

• (a) a child;
• (b) an individual who is an insolvent under administration;
• (c) a corporation that is a Chapter 5 body corporate;
• (d) a person who is disqualified from being appointed as a trustee by an order made under section 168 .