New South Wales Consolidated Acts

TRUSTEE ACT 1925 - SECT 7

7 Additional trustee

(1) A new trustee may by registered deed be appointed in addition to any existing trustee or trustees.

(2) A new trustee may be so appointed in any of the following cases, namely--

(a) where a sole trustee other than the NSW Trustee or a trustee company is or has been originally appointed to act in a trust, or

(b) where, in the case of any trust, there are not more than three trustees, either original or substituted, and whether appointed by the Court or otherwise, and none of the trustees is the NSW Trustee or a trustee company.

(3) The person to be appointed a trustee may be the person, or one of the persons, by whom or with whose consent the appointment is or may be made.

(4) The appointment may be made by the following persons, namely--

(a) by the person or persons nominated for the purpose of appointing new trustees by the instrument, if any, creating the trust, or

(b) if there is no such person, or no such person able and willing to act, then by the trustee or trustees for the time being.

(5) The appointment may be made for the whole or any part of the trust property, and on the appointment--

(a) two or more trustees may be appointed concurrently,

(b) the number of trustees shall not be increased beyond four.

(6) Except as provided by the instrument, if any, creating the trust, or by any statutory enactment to the contrary, it shall not be obligatory to appoint any additional trustee.

(7) Subsections (7), (8), (10), (12), (13), and (14) of section 6 shall apply to the appointment of an additional trustee.