Article 53 - Damages in absence of a breach
(1) Except as expressly provided in the
Terms of the Trust, a Trustee is accountable to the Trust for any profit made by the Trustee arising from the administration of the Trust, even where there has been a breach of trust.
(2) Except as expressly provided in the
Terms of the Trust, absent a breach of trust, a Trustee is not liable for a loss or depreciation in the value of the Trust Property or for not having made a profit.
|Amended (as from 24th December 2017).|