Renunciation of Trusteeship

(1) No person shall be obliged to accept appointment as a trustee, but a person nominated as trustee who knowingly intermeddles with the trust property shall be deemed to have accepted appointment as a trustee. (2) A person who has not accepted and is not deemed to have accepted appointment as a trustee of a trust may, within a reasonable period of time after becoming aware of his nomination as trustee– (a) disclaim his appointment by notice in writing to the other trustees of such trust, if any; or (b) if there are no such other trustees or such other trustees cannot be contacted, apply to the Court for relief from his appointment and the Court may make such order as it thinks fit. (3) A person nominated as a trustee who does not act under sub-section (2) within a reasonable period of becoming aware of his nomination shall be deemed to have accepted appointment as a trustee.