348. Trustee's resignation and appointment of replacement.

In the prescribed circumstances, the trustee may resign his office by giving notice of his resignation to the prescribed person1. The resigning trustee's release is effective 21 days after the date on which the notice of resignation is filed with the court in a bankruptcy based on a petition, or delivered to the official receiver in a bankruptcy based on a debtor's application2.

A trustee may resign only:

  1.  

    (1)     on grounds of ill health;

  2.  

    (2)     because of the intention to cease to practise as an insolvency practitioner;

  3.  

    (3)     because the further discharge of the duties of trustee is prevented or

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