Section 56
Trusteeship
ActIn forceProvision 66 of 96
Section 56
(1)
Subject to subsection (2), in all cases in which the court or any person or persons has or have power to appoint a trustee, whether as an original or a new or an additional trustee, to perform any legal trust or duty, a licensed trust company may be appointed in the same manner as if the licensed trust company were a private individual.
(2)
A licensed trust company must not be appointed in any case in which the instrument creating the trust, or the power authorising the appointment, forbids the appointment of a company.