Section 39
ActIn forceProvision 39 of 69
Section 39
(1)
In the case of settlements and dispositions on trust of property, whether movable or immovable, made or coming into operation on or after the material date—
Trustee 43
(a)
the number of trustees shall not in any case exceed four, and where more than four persons are named as such trustees, the four first named (who are able and willing to act) shall alone be the trustees, and the other persons named shall not be trustees unless appointed on the occurrence of a vacancy; and
(b)
the number of the trustees shall not be increased beyond four.
(2)
The restrictions hereby imposed on the number of trustees do not apply in the case of property vested in trustees for charitable, religious, or public purposes.