sec.28Discharge of trustee on appointment of new trustee

sec.28 Discharge of trustee on appointment of new trustee

This section applies if— a new trustee is appointed under division 2 to replace a trustee (the replaced trustee ); and on the appointment of the new trustee, the minimum trustee requirements for the trust are satisfied. On the appointment of the new trustee, the replaced trustee is discharged from the trust. However, if the replaced trustee has declared, as mentioned in section 20 (1) (b) , that the trustee wishes to be discharged from only part of the trusts reposed in the trustee and is replaced under section 20 in relation to that part only, the trustee is discharged from that part only. (sec.28-ssec.1) This section applies if— a new trustee is appointed under division 2 to replace a trustee (the replaced trustee ); and on the appointment of the new trustee, the minimum trustee requirements for the trust are satisfied. (sec.28-ssec.2) On the appointment of the new trustee, the replaced trustee is discharged from the trust. (sec.28-ssec.3) However, if the replaced trustee has declared, as mentioned in section 20 (1) (b) , that the trustee wishes to be discharged from only part of the trusts reposed in the trustee and is replaced under section 20 in relation to that part only, the trustee is discharged from that part only.

• (a) a new trustee is appointed under division 2 to replace a trustee (the replaced trustee ); and
• (b) on the appointment of the new trustee, the minimum trustee requirements for the trust are satisfied.