How to remove a trustee

The start of the NSW Supreme Court battle over the Hancock/Rinehart family trust has cast a spotlight on the issue of removing trustees from their office. What are the relevant principles when a beneficiary seeks to remove a trustee? Power conferred by the trust instrument The first place to look is the trust instrument. ¬†Beneficiaries […]

Managed Investment Schemes: The High Court says you can’t contract out of Chapter 5C protections

In Westfield Management Ltd v AMP Capital Property Nominees Ltd [2012] HCA 54, four members of the High Court held that any contractual term that limits the protections provided under Chapter 5C of the Corporations Act is invalid.¬† Section 601NB of the Corporations Act allows members of a registered MIS to call a members’ meeting […]