Section 68: Limitation of actions

68. Limitation of actions (1) Notwithstanding any other enactment, a period of limitation and prescription of 30 years shall apply to an action brought by a person having an interest against a trustee— (a) in respect of any fraud to which the trustee was a party or was privy; or (b) to recover from the trustee trust property or the proceeds thereof— (i) held by or vested in him or otherwise in his possession or under his control; or (ii) previously received by him and converted to his use. (2) Notwithstanding subsection (1), the period within which an action founded on breach of trust may be brought against a trustee by a beneficiary is— (a) 2 years from delivery of the final accounts of the trust to the beneficiary; or (b) 2 years from the date on which the beneficiary first has knowledge of the breach of trust, whichever period first begins to run. (3) Where the beneficiary is a minor or a person under legal disability, the period referred to in subsection (2) does not begin to run until his minority or disability, as the case may be, ceases.