APPOINTMENT OF A NEW TRUSTEE OF DEED OF ASSIGNMENT IN PLACE OF A DECEASED TRUSTEE
THIS DEED is made at……………..on this……………..day of……………..20………… between Shri……………..Chairman of the creditors, whose names and the amount of whose debts are subscribed and entered in the Schedule hereto (hereinafter called “the appointer”) of the ONE PART and Shri……………..son of……………..resident of……………..(hereinafter called “the new trustee”) of the OTHER PART.
WHEREAS
(1) This deed is supplemental to a deed of composition dated, …………….. hereinafter referred to as the said deed, and expressed to be made between the said A (therein and hereinafter called “the debtor”) of the FIRST PART, B of the SECOND PART and the creditors of the debtor as should assent thereto of the THIRD PART, whereby the debtor assigned all his movable and immovable property to the said B upon the trust therein contained for the benefit of the creditors and it was provided in the said deed amongst other things that in case B should die, the majority in value of the creditors will decide the new trustee of the said deed in his place and the chairman of the said meeting of the creditors shall appoint the new trustee.
(2) The said B died on ……………..
(3) In pursuance of clause……………..of the said deed of composition, a meeting of creditors was held on……………..and it was resolved by majority in value of the creditors that Shri ……………..should be appointed as new trustee in place of the said B and the appointer was authorised to appoint Shri……………..as new trustee on behalf of all the creditors.
NOW THIS DEED WITNESSETH THAT
The appointer in exercise of the powers conferred Upori him by the said deed of composition and the decision of majority of the creditors held on hereby appoints Shri the new trustee to be the trustee of the said deed in place of B and the new trustee will hold all the properties of the debtor assigned by the said deed upon the trusts and with and subject to the powers and duties contained in that deed.
IN WITNESS WHEREOF, the parties hereto have set their respective hands the day, month arid year first above written
WITNESSES Signed and delivered by the within named appointer
1 ,
2. Signed and delivered by……………..the within named new trustee