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The trust still exists, but would be completely ineffective because no one could make decisions. A properly drawn up trust deed should provide for this.

Regrettably many trust deeds are not well drawn and would not provide for a replacement. It is of course relatively easy to restore a company once it has been struck off the register.

Someone could readily make such an application. You also need to look at the trust deed to look at the causes which provide for appointment. Some have a power of appointment conferred upon somebody, and that may be the answer.

If the trust deed says two trustees, it means two trustees. The corporate trustee company is insufficient. You have to look at what the document provides. In addition, if the trust has previously had two trustees, it must continue with two.

The official assignee can of course seek to replace you, but again it comes back to the trust deed is to weather the other trustee needs to consent to you being replaced.

Interestingly, there is nothing in the Insolvency Act which says that you cannot be a trustee. However you are restricted in what you can do in terms of managing any business of the trust, and you cannot of course be a director of the company. So while you can continue to be a trustee you would be very restricted in what you can do.

So the issue of whether the official assignee can replace you without consent of the other trustee, depends on interpretation of the deed. If you have the power of appointment, then you could appoint another trustee and resign if anyone else would take on the job.

You will need senior counsel to argue this. These are not simple issues.

It is my understanding that once you have 2 trustees you must stick with that

But the Trustee Act says, and my earlier information was not quite correct

2)On the appointment of a trustee or trustees for the whole or any part of trust property—

• (a)the number of trustees may be increased; and

• (b)a separate set of trustees may be appointed for any part of the trust property held on trusts distinct from those relating to any other part, and whether or not new trustees are or are to be appointed for other parts of the trust property; and any existing trustee may be appointed or remain one of the separate set of trustees; or if only 1 trustee was originally appointed, then 1 separate trustee may be so appointed for the first-mentioned part; and

• (c)it shall not be obligatory to appoint more than 1 new trustee where only 1 trustee was originally appointed, or to fill up the original number of trustees where more than 2 trustees were originally appointed; but, except where only 1 trustee was originally appointed, a trustee shall not be discharged under this section unless there will be either a trustee corporation or at least 2 individuals to act as trustees to perform the trust; and

Thats section 43

So it may be possible to continue with the corporate trustee

So it may be possible to continue with the corporate trustee as you want

Yes