New South Wales Consolidated Acts

FARRER MEMORIAL RESEARCH SCHOLARSHIP FUND ACT 1930 - SECT 5

5 New trustees

(1) A new trustee may be appointed in the place of any non-official trustee by the Governor and the appointment signified by notification published in the Gazette in any of the following cases:

(a) where a trustee is dead,

(b) where a trustee remains out of New South Wales for more than one year without the consent of the trustees,

(c) where a trustee desires to be discharged from all or any of the trusts or powers reposed in or conferred on him, or resigns his office by letter addressed to the Minister,

(d) where a trustee refuses or is unfit to act in such trusts or powers, or is incapable of acting therein.

(2) Upon any such appointment being so notified the fund shall by virtue of this Act vest in the new trustee so appointed jointly with the continuing trustees.

(3) Upon any change in the holder of any office referred to in section three the fund shall by virtue of this Act vest jointly in the successor in the office whose holder is changed and the continuing trustees.