New South Wales Consolidated Acts

TRUSTEE ACT 1925 - SECT 85

85 Excusable breaches of trust

(1) Where a trustee is or may be personally liable for any breach of trust, the Court may relieve the trustee either wholly or partly from personal liability for the breach.

(2) The relief may not be given unless it appears to the Court that the trustee has acted honestly and reasonably, and ought fairly to be excused for the breach of trust and for omitting to obtain the direction of the Court in the matter in which the trustee committed the breach.

(4) This section applies whether the transaction alleged to be a breach of trust occurred before or after the commencement of this Act.