| Commentary

41 Indemnity to trustees

| Commentary

41 Indemnity to trustees

Before 1948 the common practice was to grant trustees a full indemnity against any liability except any that was incurred by fraud on the part of the trustees. Legislation limits the indemnity which may be granted to trustees in a trust deed made on or after 1 July 19481 in that any provision is void in so far as it would have the effect of exempting a trustee from, or indemnifying him against, liability for breach of trust where he fails to show the degree of care and diligence required of him as a

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