Section 54: Tracing
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.
54. Tracing
Without prejudice to the personal liability of a trustee, or a person in
breach of his fiduciary duty, trust property which has been charged or dealt
with in breach of trust or fiduciary duty, or the property into which it has
been converted, may be followed and recovered unless—
(a) it is no longer identifiable;
(b) it is in the hands of a bona fide purchaser for value without notice of the breach of trust, or of any other defect in the title;
(c) it has been charged in favour of a person who bona fide acquired
his rights therein for value and without notice of the breach of
trust or any other defect in the title;
(d) a person, other than the trustee, derived his title through a bona
fide purchaser or charge holder for value without notice of the
breach of trust or defect.
[S. 54 repealed and replaced by s. 88 (3) of Act 5 of 2002 w.e.f. 1 April 2002.]
PART IX – FAILURE, LAPSE AND TERMINATION OF TRUST