Trusts and Succession (Scotland) Act 2024 (asp 2)

Prospective

Part 1 S Trusts

Chapter 3 S Powers and duties of trustees

Breach of duty etc. S

33 Order relieving trustee of consequences of actings which are ultra vires S

(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.

Commencement Information

I1 S. 33 not in force at Royal Assent, see s. 88(3)