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Report No. 17

Section 21.- For section 21 of the principal Act, the following section shall be substituted, namely:-

"20. Non-liability for retaining investments which have ceased to be authorized.- A trustee shall not be liable for a breach of trust by reason only of his continuing to hold an investment which has ceased to be an investment authorised by the instrument of trust or by the general law."

[Cf. section 4 (English) for Trustee Act, 1925 (15 and 16, Geo. 5, c. 19)]

Trusts Act, 1882 Back

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