The appointor (which can be an individual, several individuals or a company) has the power to remove and appoint trustees (other than the initial trustee). This would commonly occur when:
- the trustee dies, becomes bankrupt or is incapacitated, or
- the company is wound up (if the trustee is a company).
The appointor (or the legal personal representatives of the appointor) may:
- delegate its powers to another entity, and/or
- resign by giving written notice to the Trustee. On resignation, the appointor’s notice may nominate its successor and if no successor is nominated, the trustee becomes the appointor.