Part 1Trusts
Chapter 3Powers and duties of trustees
Breach of duty etc.
I133Order relieving trustee of consequences of actings which are ultra vires
1
This section applies where actings of a trustee are ultra vires.
2
On the application of the trustee the court may, if the condition mentioned in subsection (3) is satisfied, make such order relieving the trustee of the consequences of those actings as seems to the court to be just.
3
The condition is that the trustee believes (after taking all reasonable steps and making all reasonable enquiry) that it is within the trustee’s powers to act as the trustee does.
4
Subsection (2) is without prejudice to any right of a beneficiary or trustee to recover trust property from a person, other than a trustee, to whom a payment would not have been made but for the actings in question.
5
This section applies—
a
irrespective of when the trust was created, but
b
only as respects actings occurring after the section comes into force.