Victorian Current Acts Victorian Current ActsS.
5(1)
amended by Nos 64/1986
s. 5(1)(a), 38/1995
s. 17(2).
(1) A trustee shall hold office for a period, specified in the instrument of appointment, not exceeding 4 years after his appointment takes effect unless he resigns or the appointment is terminated and he shall be eligible for re-appointment.
S.
5(2)
amended by No. 64/1986 s. 5(1)(b).
(2) The office of a trustee shall become vacant if the trustee—
(a) resigns his office by writing under his hand delivered to the chairman or deputy chairman;
(b) is removed from office by the Governor in Council;
(c) becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his creditors or makes an assignment of his estate for the benefit of his creditors;
(d) becomes of unsound mind; or
(e) is absent from three consecutive meetings of the Trust without the consent of the Trust.
S.
5(3)
amended by No. 64/1986 s. 5(1)(c).
(3) An act or decision of the Trust shall not be invalid by reason only of a vacancy in the office of a trustee or a defect or irregularity in the appointment of a trustee.
S.
5A
inserted by No.
38/1995
s. 18.