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TRUSTEE ACT (NORTHERN IRELAND) 1958 - SECT 38

Retirement of trustee without a new appointment.

38.(1) Where a trustee is desirous of being discharged from the trust or a
severable part of the trust, and after his discharge there will be either a
trust corporation or at least two individuals to act as trustees to perform
the trust, then, if such trustee as aforesaid by deed declares that he is
desirous of being discharged from the trust or the severable part thereof, and
if his co-trustees and such other person, if any, as is empowered to appoint
trustees, by deed consent to the discharge of the trustee, and to the vesting
in the co-trustees alone of the trust property, the trustee desirous of being
discharged shall be deemed to have retired from the trust or a severable part
thereof, and shall, by the deed, be discharged therefrom under this Act,
without any new trustee being appointed in his place.

(2) Any assurance or thing requisite for vesting the trust property in the
continuing trustees alone shall be executed or done.

© 1958 Crown Copyright

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