Resignation or removal of Trustees

(1) A trustee other than a sole trustee may resign by notice in writing to his co-trustees. (2) A trustee shall cease to be a trustee immediately upon– (a) the delivery of a notice of resignation under sub-section (1); 23 (b) his removal from office by the Court; (c) his removal from office by the protector of the trust; or (d) the coming into effect of or the exercise of a power under a provision in the terms of the trust under or by which he is removed from, or otherwise ceases to hold, his office. (3) A person who ceases to be a trustee shall do everything necessary to vest the trust property in the new or continuing (4) When a trustee resigns or is removed– (a) he shall, subject to paragraph (b) of this sub- section, duly surrender all trust property held by or vested in him or otherwise under his control; and (b) he may require that he be provided with reasonable security for liabilities, existing, future, contingent or other, before surrendering the trust property. (5) A former trustee is not liable to any trustee or to any beneficiary or other person interested under the trust for any act or omission in relation to the trust property or to his functions as a trustee, except for any liability– (a) arising from a breach of trust to which the trustee or, in the case of a corporate trustee, any of its officers or employees was a party or was privy; or (b) in respect of an action to recover from the trustee or, in the case of a corporate trustee, any of its officers or employees trust property 24 or the proceeds thereof in his possession or under his control. Protections’