Page 22 - Nexia SAB&T Trust Guide 2022

An independent trustee is a person who cannot benefit from the income
or assets of the trust, nor are they related to a beneficiary of the trust.

■ A trustee can be a beneficiary of a trust, but a sole trustee may not also be
a sole beneficiary of a trust, as a trustee by definition, holds and administers
property for some person other than himself.
■ A trust may be properly established with only one trustee, and there is generally
no upper limit to the number of trustees who may be appointed, and the trust
instrument usually specifies the required minimum/maximum number of trustees.
The Master of the High Court may appoint a trustee in certain
circumstances
Section 7 of the Trust Property Control Act states that if the office of trustee cannot
be filled or becomes vacant, the Master shall, in the absence of any provision in the
trust instrument, after consultation with so many interested parties as he may deem
necessary, appoint any person as trustee. In addition, when the Master considers it
desirable, he may, notwithstanding the provisions of the trust instrument, appoint
as co-trustee of any serving trustee, any person whom he deems fit.
Foreign Trustees
Section 8 of the Trust Property Control Act states that a foreigner may be appointed
as a trustee of a trust formed within South Africa, and that the provisions of the
Trust Property Control Act will then apply to such a trust in respect of such trust
property, and the Master of the High Court will need to authorise such a trustee to
act as such under Section 6 of the Act.
Disqualification from appointment as a trustee
A person cannot be appointed as a trustee if he is:
■ Disqualified from being a trustee.
■ Removed from the office as such in terms of the Trust Property Control Act.
■ An unrehabilitated insolvent is removed from an office of trust on account of
misconduct.
■ Is convicted of a crime involving dishonesty or is disqualified in terms of the
trust deed.
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