It was not possible for two trustees to retire, and be replaced by and leaving only one trustee, not being a trust corporation. The two trustees were not therefore discharged from the trust, and the solicitors who had advised them in the exercise had been negligent. A discharge of the second trustee could only be obtained via section 39.
Citations:
Times 17-Mar-2000, Gazette 30-Mar-2000
Statutes:
Jurisdiction:
England and Wales
Trusts
Updated: 10 May 2022; Ref: scu.77634