New South Wales Consolidated Acts

TECHNICAL EDUCATION TRUST FUNDS ACT 1967 - SECT 6

6 Change of Statutory Trustees

(1) The Governor may, by order published in the Gazette, change the Statutory Trustee or Statutory Trustees of a Fund.

(2) On the day on which the order takes effect:

(a) a person who, or a statutory corporation that, immediately before that day, was a Statutory Trustee of the Fund, ceases to be a Statutory Trustee of that Fund, and

(b) the Fund vests, without any conveyance or other assurance, in the persons or statutory corporation appointed under that order as the Statutory Trustees or Statutory Trustee of the Fund.

(3) A Fund in relation to which two or more Statutory Trustees are appointed vests in those Statutory Trustees as joint tenants.