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Cap. 331 · Trusts And Trustees Act (Cap. 331)

Cap. 331 Art. 22Co-trustees.

En vigueurTexte officiel

(1) Where the trustees are more than one they shall, subject to the terms of the trust and except as otherwise provided therein -

(a) act jointly in the performance of their duties and the exercise of their powers, unless in urgent cases it is not possible for any one or more of them so to act;

(b) not exercise any power or discretion unless all the trustees are in agreement;

and where the terms of the trust empower the trustees to act by a majority, a trustee who dissents from a decision of the majority, shall cause his dissent to be recorded in writing.

(2) Trust property shall at all times vest in the co-trustees in possession between them pro indiviso.