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(1)Where the holder of an office specified in a trust deed is (in terms of the trust deed) eligible to be a trustee by virtue only of being the holder of that office, the court may remove the specification of the office from the trust deed on the application of the trustees.
(2)Where the specified office is extant, an application under subsection (1) may also be made by—
(a)the holder, or
(b)the body of which the holder is an officer.
(3)If an application under subsection (1) seeks the specification of a different office in substitution for the specification removed, the court may make that substitution if satisfied either—
(a)that the specification sought is more appropriate to the purposes of the trust than the specification removed, or
(b)that the office removed is no longer extant.
(4)This section applies irrespective of when the trust was created.
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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
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