Queensland Consolidated Acts

TRUSTS ACT 1973 - SECT 11

11 Limitation of the number of trustees

(1) Where, at the commencement of this Act, there are more than 4 trustees of any property no new trustees shall (except where as a result of the appointment the number is reduced to 4 or less) be capable of being appointed until the number is reduced to less than 4, and thereafter the number shall not be increased beyond 4.

(2) In the case of trusts made or coming into operation after the commencement of this Act—

(a) the number of trustees thereof shall not in any case exceed 4, and where more than 4 persons are named as such trustees, the 4 first named (who are able and willing to act) shall alone be the trustees, and the other persons named shall not be trustees unless appointed on the occurrence of a vacancy;

(b) the number of the trustees shall not be increased beyond 4.

(3) Nothing in this section shall apply—

(a) to property vested or to be vested in trustees for charitable purposes; or

(b) to property vested or to be vested in trustees where the Minister has given a certificate in writing that the Minister approves of the number of trustees in whom the property is or is to be vested.

(4) A custodian trustee shall not be counted as a trustee for the purpose of this section.