Regulatory Impact Statement: A New Trusts Act [pdf, 1.2 MB]
...a removed trustee does not always need to be replaced. However, some provisions effectively mean there is a minimum requirement of two individual trustees, unless the initial appointment was a single trustee, or a statutory trustee corporation. 101. The provisions in the Trustee Act are vague and confusing. Empowered people do not always know in what circumstances a trustee should be removed. Issues also arise when there is no person with appointment and removal powers in the trust deed,...