Acts and Regulations

2015, c.21 - Trustees Act

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Powers and duties conferred jointly
53Unless the trust instrument provides otherwise,
(a) if a power is conferred or a duty is imposed on two or more trustees, the power is conferred and the duty is imposed jointly, and
(b) if a power is conferred or a duty is imposed on trustees jointly,
(i) the power may be exercised or the duty may be performed in accordance with section 54, and
(ii) if there is only one continuing trustee, the power may be exercised or the duty may be performed by that trustee.
Powers and duties conferred jointly
53Unless the trust instrument provides otherwise,
(a) if a power is conferred or a duty is imposed on two or more trustees, the power is conferred and the duty is imposed jointly, and
(b) if a power is conferred or a duty is imposed on trustees jointly,
(i) the power may be exercised or the duty may be performed in accordance with section 54, and
(ii) if there is only one continuing trustee, the power may be exercised or the duty may be performed by that trustee.