Singapore legislation
Section 4
Section 4
Compulsory substitution of trustee
(1)
Unless otherwise provided in an order of court or directed by the Minister, the trustee of the moneys standing to the credit of a member’s bank account must —
where the custody, care and control of the member is granted (under an order of court or by agreement between the parents of the member) to the parent of the member who is not the trustee, be substituted with the parent to whom custody, care and control has been granted;
where the care and control of the member is granted (under an order of court or by agreement between the parents of the member) to the parent of the member who is not the trustee, be substituted with the parent to whom care and control has been granted, even though custody of the member remains with the parent who is the trustee;
where the custody, care and control, or care and control, of the member is granted (under an order of court or by agreement between the parents of the member) to a person other than the parents of the member, be substituted with the person granted custody, care and control, or care and control, of the member;
where the member is legally adopted by any person, be substituted with the adopter of the member;
(da)where the circumstances in paragraph (e), (f) or (g) exist in relation to the trustee and the member has a legal guardian, be substituted with that legal guardian instead of the substitute trustee mentioned in any of those paragraphs;
where the trustee is dead, be substituted with the trustee’s personal representative;
where the trustee is no longer able to act as trustee by reason that the trustee lacks capacity (within the meaning of the Mental Capacity Act 2008) to exercise the trustee’s functions as trustee, be substituted with —
a donee of a lasting power of attorney granted by the trustee under that Act, and under which the trustee confers on the donee authority either to make decisions concerning the trustee’s property and affairs or to exercise the functions as trustee;
a deputy appointed or deemed to be appointed for the trustee by the court under that Act, and who is conferred power either to make decisions concerning the trustee’s property and affairs or to exercise the functions as trustee; or
if there is no such donee or deputy, a person nominated by the Minister;
where the trustee is unable or unwilling to act as trustee for any other reason —
be substituted with the person nominated by the trustee and approved by the Minister to act in the place of the existing trustee; or
if no person was nominated to act in place of the existing trustee, be substituted with a person appointed by a Director until sub‑paragraph (i) applies;
where the trustee is a parent of the member and both parents of the member agree to his or her substitution as trustee, be substituted with a person whom both parents have nominated to act in place of the existing trustee;
where the trustee is not a parent of the member, and both parents of the member and the trustee agree to the substitution of that trustee, be substituted with a person whom both parents have nominated to act in place of the existing trustee; and
where the trustee is a parent (A) of the member, and the other parent (B) of the member is of the opinion that circumstances exist such that A is unable to act as trustee and A’s agreement for A’s substitution as trustee cannot practically be obtained, be substituted with B or a trustee nominated by B to act in place of A if a Director is satisfied that those circumstances exist.
(2)
Despite subsection (1), the Minister may, if he or she considers it necessary, direct that a trustee be removed and substituted with any other person that the Minister may nominate.
(3)
This section has effect despite anything to the contrary in the Trustees Act 1967.