Prospective
39Damages for loss resulting from trustee’s act or omission in ordinary course of administrationS
(1)This section applies where—
(a)in consequence of a trustee’s act or omission (or of an act or omission of a person for whom the trustees are responsible) a person other than a trustee suffers loss, and
(b)that act or omission arises in the ordinary course of administering the trust.
(2)Subject to subsection (3), any damages awarded in respect of that loss are recoverable from the trust property only.
(3)In making any award in respect of that loss the court may, if satisfied that the act or omission was in any way attributable to the trustee’s failure to exercise such skill, care or diligence as is required of that trustee by section 31, determine that damages are recoverable, in whole or in part, from the trustee’s private property (to the extent of the trustee’s failure) and the balance (if any) from the trust property.
(4)This section applies—
(a)irrespective of when the trust was created, but
(b)only as respects an act or omission occurring after the section comes into force.
Commencement Information
I1S. 39 not in force at Royal Assent, see s. 88(3)