ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    тЪб Month End Offer - Flat 52% Off On All Courses! Enroll Now тЪб
    00:00:00 AM Left

    Question

    Under the Indian Trusts Act, 1882, what happens if the

    trustee dies or becomes incapable of acting? ┬а
    A The trust is automatically terminated Correct Answer Incorrect Answer
    B The beneficiaries must manage the trust themselves Correct Answer Incorrect Answer
    C A new trustee may be appointed as per the trust deed or by the court Correct Answer Incorrect Answer
    D The settlor resumes control over the trust property Correct Answer Incorrect Answer
    E The trust property is distributed among the beneficiaries Correct Answer Incorrect Answer

    Solution

    Section 73 and 74 of the Act allows the appointment of a new trustee if an existing trustee dies, becomes incapable of acting, or is removed. This can be done according to the provisions of the trust deed or through a court order. ┬а

    Practice Next
    More Finance Lectures Questions
    ask-question