Older Persons Act, 2006
R 385
Insolvency Act, 1936 (Act No. 24 of 1936)62. Election of new trustee |
| (1) | When a Court or the Master has removed one of two joint trustees from office, the Master may convene a meeting of the creditors of the estate in question for the purpose of electing a new trustee in the place of the trustee who was removed. |
| (2) | When a sole trustee has vacated his or her office or has been removed from office, has resigned or died, the Master shall convene a meeting of the creditors of the estate in question for the purpose of electing a new trustee, and in the meantime the Master may, in accordance with policy determined by the Minister, appoint a provisional trustee for the preservation of the estate. |
| (3) | When one of two joint trustees has vacated his office or has resigned or died the Master may convene a meeting of the creditors of the estate in question for the purpose of electing a new trustee in the place of the trustee who has vacated his office or has resigned or died. |
| (4) | The provisions of section fifty-four shall apply in connection with the election of a new trustee in terms of this section. |
