CORPORATIONS ACT 2001 - SECT 283AD Existing trustee continues to act until new trustee takes office
CORPORATIONS ACT 2001 - SECT 283AD
Existing trustee continues to act until new trustee takes officeAn existing trustee continues to act as the trustee until a new trustee is appointed and has taken office as trustee, despite any rule of law or equity to the contrary.
Note: This section applies even if the existing trustee resigns.