Full legislation
s.42
Power of court to appoint new trustees
(1)
The court may, whenever it is expedient to appoint a new trustee or new
trustees, and it is found inexpedient, difficult or impracticable so to do without
the assistance of the court, make an order appointing a new trustee or new trustees
either in substitution for or in addition to any existing trustee or trustees, or
although there is no existing trustee. In particular and without prejudice to the
generality of the foregoing provision, the court may make an order appointing a new
trustee in substitution for a trustee who is sentenced to a term of imprisonment or
is a lunatic or a person of unsound mind or is a bankrupt or is a corporation which
is in liquidation or has been dissolved.
(2)
An order under this section, and any consequential vesting order or conveyance,
shall not operate further or otherwise as a discharge to any former or continuing
trustee than an appointment of new trustees under any power for that purpose
contained in any instrument would have operated.
(3)
Nothing in this section gives power to appoint an executor or
administrator.
[cf. 1925 c.19 s. 41 U.K.]