Insolvency Act, 1936 (Act No. 24 of 1936)

62. Election of new trustee
Purchase cart Previous page Return to chapter overview Next page

 

(1)When a Court or the Master has removed one of two joint trustees from office, the Master may convene a meeting of the creditors of the estate in question for the purpose of electing a new trustee in the place of the trustee who was removed.

 

(2)When a sole trustee has vacated his or her office or has been removed from office, has resigned or died, the Master shall convene a meeting of the creditors of the estate in question for the purpose of electing a new trustee, and in the meantime the Master may, in accordance with policy determined by the Minister, appoint a provisional trustee for the preservation of the estate.

 

(3)When one of two joint trustees has vacated his office or has resigned or died the Master may convene a meeting of the creditors of the estate in question for the purpose of electing a new trustee in the place of the trustee who has vacated his office or has resigned or died.

 

(4)The provisions of section fifty-four shall apply in connection with the election of a new trustee in terms of this section.