A A Trustee is disqualified 'as Trustee' upon his death, loss of his legal competence, removal from trusteeship, liquidation, rescinding his licence or declaring his bankruptcy. The Trust shall then be transferred to the other Trustees in case of multiple Trustees, unless the Trust Instrument provides otherwise.

B When a Trustee is disqualified, the Governor of the Agency shall, unless the Trust Instrument provides otherwise, entrust the temporary management of the Trust to one or more licensee until such time as a new Trustee is appointed to succeed his predecessor. This shall be so, if the disqualified Trustee was sole Trustee, or if he was the only licensed Trustee out of all others.

C Unless otherwise specified in the Trust Instrument, the Settler shall appoint a new Trustee within six months of the date the Trustee was disqualified.

D The Trust Property shall be transferred to the New Trustee by virtue of a written authenticated agreement, or by an order issued by the Dispute Settlement Committee. This shall be without prejudice to any obligation imposed by any other law regarding the legal validity of dealings in any of the Trust Property.