TRUSTEES ACT 1962 - SECT 45

TRUSTEES ACT 1962 - SECT 45

45 .         Trustees dying, devolution of powers or trusts

        (1)         Where a power or trust is given to, or imposed on, 2 or more trustees jointly, then, unless the contrary is expressed in the instrument (if any) creating the power or trust, the power or trust may be exercised or performed for the time being by the survivors or survivor of them.

        (2)         Until the appointment of a new trustee, the personal representative for the time being of a sole trustee or (where there were 2 or more trustees) of the last surviving or continuing trustee shall be capable of exercising or performing any power or trust that was given to, or capable of being exercised by, the sole or last surviving or continuing trustee, or other trustees for the time being of the trust; but for the purposes of this subsection the term trustee does not include a personal representative as such.

        (3)         This section does not authorise the exercise or performance of any power or trust by an executor who has renounced or has not proved.