Northern Territory Consolidated Acts

THE TRUSTEE ACT 1893 AND SHALL COME INTO OPERATION ON A DAY TO BE FIXED BY THE GOVERNOR, - SECT 49A

If it appears to the Supreme Court:

        (a)     that a trustee is, or may be, personally liable for a breach of trust, whether the transaction alleged to be a breach of trust occurs before or after the commencement of this Act; and

        (b)     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 directions of the Court in the matter in which he has committed the breach,

the Court may relieve the trustee, either wholly or partly, from personal liability for the breach of trust.