Article 35 - Removal of Trustee by QFC Court or under the terms of the Trust
Settlor, an Enforcer, a co- Trustee, a Beneficiary, the QFC Authority or the Regulatory Authority may apply to the QFC Court to remove a Trustee, or a Trustee may be removed by the QFC Court on its own initiative.
QFC Court may remove a Trustee if:
Trustee has committed a breach of trust;
(B) if lack of cooperation among co-
Trustees substantially impairs the administration of the Trust;
(C) because of unfitness, unwillingness, or persistent failure of the
Trustee to administer the Trust and if the QFC Court determines that removal of the Trustee is in the best interests of the Beneficiaries; or
(D) if there has been a substantial change of circumstances or removal is requested by all of the
Beneficiaries and the QFC Court finds that removal of the Trustee is in the best interests of all the Beneficiaries and is not inconsistent with a material purpose of the Trust, and a suitable co- Trustee or successor Trustee is available.
(3) Pending a final decision on a request to remove a
Trustee, or in lieu of or in addition to removing a Trustee, the QFC Court may order an appropriate relief under Article 52.
|Amended (as from 24th December 2017).|