Trusts Act 2025
sec.56Ending custodian trusteeship
Start here
Get a plain-English read of sec.56
Turn the raw legal text into a practical explanation grounded in Trusts Act 2025.
sec.56 Ending custodian trusteeship
The following persons may apply to the court to end a custodian trusteeship— the custodian trustee; a managing trustee of the trust; a beneficiary of the trust. The court may order the ending of the custodian trusteeship if satisfied that— it is the general wish of the beneficiaries of the trust; or it is expedient to end the custodian trusteeship on other grounds. The court may, to give effect to the ending of the custodian trusteeship— give the directions it considers appropriate; and make the vesting orders it considers necessary. (sec.56-ssec.1) The following persons may apply to the court to end a custodian trusteeship— the custodian trustee; a managing trustee of the trust; a beneficiary of the trust. (sec.56-ssec.2) The court may order the ending of the custodian trusteeship if satisfied that— it is the general wish of the beneficiaries of the trust; or it is expedient to end the custodian trusteeship on other grounds. (sec.56-ssec.3) The court may, to give effect to the ending of the custodian trusteeship— give the directions it considers appropriate; and make the vesting orders it considers necessary.
- (a) the custodian trustee;
- (b) a managing trustee of the trust;
- (c) a beneficiary of the trust.
- (a) it is the general wish of the beneficiaries of the trust; or
- (b) it is expedient to end the custodian trusteeship on other grounds.
- (a) give the directions it considers appropriate; and
- (b) make the vesting orders it considers necessary.