The appointment, retirement and removal of trustees are usually governed by the provisions within a fund’s or scheme’s Trust Deed and Master Trust Deed or Plan Rules or the general provisions set out in trust law. The courts, pursuant to a petition of the FSC to wind up a fund or scheme, may also appoint a provisional trustee.
The Act and Regulations introduce statutory requirements in relation to the appointment and removal of trustees by specifying the types of trustees that a fund or scheme is required to have and the means by which certain trustees can be removed.
Last Update: April 8, 2020
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