What happens if the Creation Deed does not specify the terms and conditions for the resignation or relief from position of the Private Portfolio Custodian or if the resignation is refused?
In such cases, the Private Portfolio Custodian can request the Competent Court to make a decision regarding the resignation. If the Court determines that the resignation is intended to disrupt the implementation of the Private Portfolio, it will reject the resignation and require the Custodian to pay for any damages caused.