Article 36 - Position of outgoing Trustee
(1) A Trustee who resigns or is removed must expeditiously deliver the Trust Property within the Trustee's possession to the co-Trustee, successor Trustee or other Person entitled to it.
(2) Unless a co-Trustee remains in office or the QFC Court otherwise orders, and until the Trust Property is delivered to a successor Trustee or other Person entitled to it, a Trustee who has resigned or been removed has the duties of a Trustee and the powers necessary to protect the Property .
(3) A Trustee who resigns or is removed may require to be provided with reasonable security for liabilities whether existing, future, contingent or otherwise before surrendering the Trust Property .
(4) A Trustee who resigns or is removed and has complied with Article 36(1) will be released from liability to any Beneficiary , Trustee or Person interested under the Trust for any act or omission in relation to the Trust Property or the Trustee's duty as a Trustee except liability:
(A) arising from any breach of trust to which such Trustee was a party or to which the Trustee was privy; or
(B) in respect of actions to recover from such Trustee the Trust Property or the proceeds of the Trust Property in the possession of such Trustee .
| Amended (as from 24th December 2017). |