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Report No. 17

Section 63.- To section 63 of the principal Act, the following paragraph and Explanation shall be added, namely:-

"Nothing in this section shall be construed as impairing any right of the beneficiary to obtain any other relief to which he may be entitled in respect of the property.

Explanation.- Where moneys or other property is deposited with any person as security for the due discharge of the duties of any office or for the performance of any contract, such person shall, for the purposes of this section, be deemed to be holding such money or other property in trust for the depositor, and the provisions of this section shall apply thereto accordingly".

Trusts Act, 1882 Back

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