Source - Unlocking Trusts
Following is the summary of this chapter:
1) Appointment and creation of new trust - Inter vivos (Rule is is no trustee exists, then the trust fails. If some exist, then the trust is valid), will (Rule is is no trustee exists, then the court appoints)
2) Appointment and continuation of the trust - The appointment should be made in the following order: (a) By express power (b) By general statutory power (s26(1) and 26(6) of Trustees Act 1925 (c) As per the direction of the beneficiary (s19-21 of TOLATA) (d) By court (s 41 of Trustee Act)
3) Retirement - As per / by (a) Trust instrument (b) General statutory power (s36(1) and 39 of Trustee Act (c) Consent of beneficiaries (Saunders v Vautier principle) (d) Direction of the beneficiary (s19-21 of TOLATA) (d) Court (s 41 of Trustee Act)
4) Removal - As per / by (a) Trust instrument (b) General statutory power (s36(1) of Trustee Act (c) Direction of the beneficiary (s19-21 of TOLATA) (d) Court u/s 41 of Trustee Act and under inherent jurisdiction
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