Trustee Ordinance

(1)
This section applies in relation to a trust
if—
(a)
a trustee, because of mental incapacity as defined by
section 2(1)
of the Mental Health Ordinance (
Cap. 136
), is incapable of exercising the trustee’s functions (
the incapacitated trustee
);
(b)
no person is entitled, willing and able to appoint, under
section 37(1)
, a new trustee in place of the incapacitated trustee; and
(c)
either—
(i)
the sole beneficiary under the trust is absolutely entitled to the property subject to the trust
and—
(A)
is an individual of full age and capacity; or
(B)
is a body corporate whose constitution does not prohibit it from exercising the power under this section; or
(ii)
all the beneficiaries under the trust (taken together) are absolutely entitled to the property subject to the trust and each of whom is
either—
(A)
an individual of full age and capacity; or
(B)
a body corporate whose constitution does not prohibit it from exercising the power under this section.
(2)
Either the sole beneficiary or all the beneficiaries may give a written direction to the specified attorney or committee to appoint a person specified in the direction to be a new trustee in place of the incapacitated trustee.
(3)
In subsection (2
)—
(a)
the specified attorney is an attorney acting for the incapacitated trustee under an enduring power of attorney; and
(b)
the specified committee is a committee of the estate or other person acting for the incapacitated trustee appointed or authorized by the court under Part II of the Mental Health Ordinance (
Cap. 136
).