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Chapter

Cover Complete Equity and Trusts

12. The appointment of trustees  

Titles in the Complete series combine extracts from a wide range of primary materials with clear explanatory text to provide readers with a complete introductory resource. This chapter discusses the following: the different types of trustee; the number of trustees required; the general duties of trustees; trustee decision making; disclaiming trusteeship; who is eligible to be a trustee; who has power to appoint trustees, express and statutory powers; the appointment of trustees by the beneficiaries; the appointment of trustees by the court; the vesting of the legal estate in the trustees; the retirement of trustees; and the removal of trustees; protection of beneficiaries.

Chapter

Cover Pearce & Stevens' Trusts and Equitable Obligations

32. Appointing and changing trustees  

This chapter discusses the role of trustees, which is central to the operation of trusts. In most cases, trustees have extensive powers conferred upon them by the trust instrument or by the general law. The way in which they exercise those powers can have a huge impact upon whether or not the objectives of the trust are achieved, and upon the beneficiaries. Choosing the right trustees is, therefore, essential. This chapter thus looks at how the original trustees are appointed and what steps can be taken should the trustees need to be changed through resignation or retirement, or because the settlor or the beneficiaries are no longer content that a trustee should continue in office.

Chapter

Cover Company Law

12. Vacation of office and disqualification  

This chapter looks at the various ways in which a director can cease to be a director: resignation; vacation of office in accordance with the articles; retirement by rotation; removal; and disqualification. A director can resign at any time by giving notice to the company, which must accept their resignation. A company’s articles can specify what circumstances will cause a director to vacate office, as well as requiring its directors to periodically vacate office and, if they so wish, seek re-election. Section 168 of the Companies Act 2006 (CA 2006) provides that a director can be removed from office by a company passing an ordinary resolution at a meeting. Meanwhile, under the Company Directors Disqualification Act 1986, a director can be disqualified from acting as a director, either by the court imposing a disqualification order or by the Secretary of State accepting a disqualification undertaking from the director in question.

Chapter

Cover Partnership and LLP Law

7. Dissolution and Winding Up  

This chapter details the various grounds for the dissolution of a solvent partnership, contractual, automatic and by court order, followed by the processes whereby either a full dissolution is effected by a winding up or on a technical dissolution a departing partner's share is ascertained The effects of the death or bankruptcy of a partner and the illegality of the partnership business are considered along with agreed dissolution grounds. The various grounds for a court order are then set out. The effects of the frustration, rescission or repudiation of the partnership agreement are detailed. Winding up by the partners or receivers is then set out including the application of the assets on a winding up. The valuation of a partner's share on leaving is considered followed by his or her share in the profits after the technical dissolution until payment. Finally, the distribution of assets on a final account, is set out.

Chapter

Cover Employment Law

12. Age discrimination  

This chapter deals with age discrimination law under the Equality Act. It discusses the history and background of age discrimination law, protected characteristics, prohibited conduct on grounds of age discrimination, and key debates about how the law operates and how it might be improved in the future. There is no longer a default retirement age in the UK. If an employer wishes to retire an employee at a particular age, he has to have objective reasons for choosing that age. Unlike other protected characteristics, direct age discrimination can be justified, and there are a number of exceptions, such as length of service benefits, which have been kept from the Age Regulations of 2006.

Chapter

Cover Employment Law

5. Unfair dismissal—Reasonableness  

This chapter continues the discussion begun in Chapter 4 by considering the third of the three questions employment tribunals must address when faced with an unfair dismissal claim: Did the employer act reasonably in carrying out the dismissal? If the answer is ‘yes’, then the dismissal is fair, if it is ‘no’, then it is unfair and the issue of an appropriate remedy is considered by the tribunal. The chapter explores this concept of ‘reasonableness’ in detail. It explains how it has evolved over the decades and why its interpretation by the courts remains highly controversial. In particular, it focuses on how the courts have determined what does and what does not constitute a fair dismissal on grounds of misconduct, poor performance and ill health.

Chapter

Cover Equity & Trusts Law Directions

10. Trustee appointments  

Without assuming prior legal knowledge, books in the Directions series introduce and guide readers through key points of law and legal debate. Questions, diagrams and exercises help readers to engage fully with each subject and check their understanding as they progress. No more than four trustees can be appointed in a private trust of land. The trustees will hold the legal title as joint tenants; if any of them dies, the legal title remains vested in the surviving trustees by ‘right of survivorship’. This chapter examines trustee appointments, focusing on cases where a trustee dies or for some other reason ceases to act, and also considers the persons able to appoint trustees and the persons able to act as trustees. The chapter provides an overview of the Trustee Act 1925, and the Trusts of Land and Appointment of Trustees Act 1996. It also considers the principle that a trust does not fail for want of a trustee, how a trustee may disclaim the trust and the modes by which a trustee might retire, or be removed, from the trust. In addition, the chapter looks at the actions of the trustee upon appointment, liability after retirement from the trust, removal under ss 36(1) and 41 of the Trustee Act 1925 and removal of the trustee under the court’s inherent jurisdiction.

Chapter

Cover The Principles of Equity & Trusts

17. Liability for Breach of Trust and Fiduciary Duty  

This chapter examines the nature of the liabilities of trustees for a breach of trust and fiduciary duty. The chapter particularly focuses on the operation of particular doctrines which may be engaged when a trustee or fiduciary may have breached their duty. The extent to which the liability of a trustee or fiduciary can be excluded is considered. The extent to which the court may, in the exercise of judicial discretion, determine that it is not appropriate to hold a trustee liable is examined. The law on the limitation of liability is also examined as regards different claims relating to breach of trust and breach of fiduciary duty. This chapter also explores issues concerning liabilities between trustees, liability of trustees to creditors, and their liabilities for breach of trust before appointment and after retirement.

Chapter

Cover The Principles of Equity & Trusts

17. Liability for Breach of Trust and Fiduciary Duty  

This chapter examines the nature of the liabilities of trustees for a breach of trust and fiduciary duty. The chapter particularly focuses on the operation of particular doctrines which may be engaged when a trustee or fiduciary may have breached their duty. The extent to which the liability of a trustee or fiduciary can be excluded is considered. The extent to which the court may, in the exercise of judicial discretion, determine that it is not appropriate to hold a trustee liable is examined. The law on the limitation of liability is also examined as regards different claims relating to breach of trust and breach of fiduciary duty. This chapter also explores issues concerning liabilities between trustees, liability of trustees to creditors, and their liabilities for breach of trust before appointment and after retirement.

Chapter

Cover The Law of Trusts

8. The trust up and running  

Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter discusses the powers and obligations of trustees, the most important of which are the duty of investment and the powers of maintenance and advancement. The power of maintenance enables a trustee to spend income, but not capital, for the benefit of infant beneficiaries. The power of advancement is the power to expend the capital of the trust fund to benefit a beneficiary who has only a future or contingent interest in it. The discussions also cover the delegation of trustee functions; the appointment, retirement, and removal of trustees; custodian, nominee, managing, and judicial trustees; and variation of trusts.