Trusts Act 2025
sec.224Existing trusts with more than 4 trustees
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sec.224 Existing trusts with more than 4 trustees
This section applies in relation to trust property if— immediately before the commencement— the repealed Act, section 11(1) applied in relation to the trust property; and there were more than 4 trustees of the trust property; and on the commencement, section 14 would, but for this section, apply to the trust. Despite section 14, the repealed Act, section 11(1) continues to apply in relation to the trust property until the earlier of the following to happen— the number of trustees of the trust is reduced to 4 or less; the court approves the appointment of more than 4 trustees of the trust under section 15. (sec.224-ssec.1) This section applies in relation to trust property if— immediately before the commencement— the repealed Act, section 11(1) applied in relation to the trust property; and there were more than 4 trustees of the trust property; and on the commencement, section 14 would, but for this section, apply to the trust. (sec.224-ssec.2) Despite section 14, the repealed Act, section 11(1) continues to apply in relation to the trust property until the earlier of the following to happen— the number of trustees of the trust is reduced to 4 or less; the court approves the appointment of more than 4 trustees of the trust under section 15.
- (a) immediately before the commencement— (i) the repealed Act, section 11(1) applied in relation to the trust property; and (ii) there were more than 4 trustees of the trust property; and
- (i) the repealed Act, section 11(1) applied in relation to the trust property; and
- (ii) there were more than 4 trustees of the trust property; and
- (b) on the commencement, section 14 would, but for this section, apply to the trust.
- (i) the repealed Act, section 11(1) applied in relation to the trust property; and
- (ii) there were more than 4 trustees of the trust property; and
- (a) the number of trustees of the trust is reduced to 4 or less;
- (b) the court approves the appointment of more than 4 trustees of the trust under section 15.