Appointing a trustee or director - FAQ
Must the Appointee be 18 years or older?
In short, yes. A person under age 18 cannot be appointed as a trustee or as a director.
Can the Appointee be a bankrupt?
In short, no. The Appointee cannot be a bankrupt. Further the Appointment cannot be an insolvent under administration.
If the Appointee ceases to be a bankrupt (ie is a discharged bankrupt) or ceases to be an insolvent under administration, then Appointee could be appointed as a trustee or as a director.
In short, yes. A person under age 18 cannot be appointed as a trustee or as a director.
Can the Appointee be a bankrupt?
In short, no. The Appointee cannot be a bankrupt. Further the Appointment cannot be an insolvent under administration.
If the Appointee ceases to be a bankrupt (ie is a discharged bankrupt) or ceases to be an insolvent under administration, then Appointee could be appointed as a trustee or as a director.