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TRUSTEE ACT 1925 - SECT 86
Indemnity for breach of trust
86 Indemnity for breach of trust
(1) Where a trustee commits a breach of trust at the instigation or request or
with the written consent of a beneficiary, the Court may, if it thinks fit,
make such order as to the Court seems just for impounding all or any part of
the interest of the beneficiary in the trust estate by way of indemnity to the
trustee or person claiming through the trustee.
(2) The provisions of
subsection (1) shall be deemed to empower the Court to impound all or any part
of the interest of any beneficiary who receives any pecuniary benefit from the
breach of trust.
(3) This section applies notwithstanding that the
beneficiary may be a married woman entitled for her separate use and
restrained from anticipation.
(4) This section applies to breaches of trust
committed as well before as after the commencement of this Act, but shall not
prejudice any question in any suit or other proceeding instituted before and
pending at the commencement of this Act.
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