(1)If AiB is satisfied that any of the circumstances mentioned in subsection (2) apply, AiB may—
(a)declare the office of trustee to have become, or to be, vacant, and
(b)make any necessary order—
(i)to enable the sequestration of the estate to proceed, or
(ii)to safeguard the estate pending the election of a new trustee.
(2)The circumstances are that—
(a)T is unable to act (whether by, under or by virtue of a provision of this Act or from any other cause whatsoever other than death), or
(b)T's conduct has been such that T should no longer continue to act in the sequestration.
(3)The declaration under subsection (1)(a), and any order under subsection (1)(b), may be made—
(a)on the application of the commissioners, of the debtor or of a creditor, or
(b)in any other case where AiB is satisfied as mentioned in subsection (1).
(4)AiB must order such intimation of an application by a person mentioned in subsection (3)(a) as AiB considers necessary.
(5)This section is without prejudice to section 200(4).
Commencement Information
I1S. 72 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2