Section 50: Liability for breach of trust
consolidated text (as at 2012, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
50. Liability for breach of trust
(1) Subject to this Act and to the terms of the trust, a trustee who commits or concurs in a breach of trust shall be liable for—
(a) any loss or depreciation in value of the trust property resulting
from the breach; and
(b) any profit which would have accrued to the trust, had there
been no breach.
(2) A trustee may not set off a profit accruing from one breach of trust
against a loss or depreciation in value resulting from another.
(3) A trustee shall not be liable for a breach of trust committed by another person prior to his appointment or for a breach of trust committed by
his co-trustee unless—
(a) he becomes or ought to become aware of the breach; and
(b) he actively conceals the breach, or fails within a reasonable time
to take proper steps to protect or restore the trust property or to
prevent the breach.
(4) Where trustees commit a breach of trust, they shall be liable jointly
and severally.
T22 – 25 [Issue 1]
Trusts Act
(5) A trustee who becomes aware of a breach of trust shall take all reasonable steps to have the breach remedied.
(6) Nothing in the terms of a trust shall relieve a trustee of liability for a
breach of trust arising from his own fraud, wilful misconduct or gross
negligence.