Singapore legislation
Clause 4
Clause 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 shall —
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, notwithstanding that 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;
where the trustee is dead and the member has no other legal guardian, be substituted with the personal representative of the trustee;
where the trustee is no longer able to act as trustee by reason that he is a mentally disordered person within the meaning of the Mental Disorders and Treatment Act (Cap. 178) and the member has no other legal guardian, be substituted with the person who has been appointed the committee of the person and estate of the trustee; and
where the trustee is unable or unwilling to act as trustee for any other reason and the member has no other legal guardian, be substituted with the person nominated by the trustee and approved by the Minister to act in the place of the existing trustee.
(2)
Notwithstanding subsection (1), the Minister may, if he considers it necessary, direct that a trustee be removed and substituted with such other person as the Minister may nominate.
(3)
This section shall have effect notwithstanding anything to the contrary in the Trustees Act (Cap. 337).