TypeBare Act JurisdictionCentral Government Enacted1882

Trusts Act, 1882 Section 54

CO-TRUSTEES MAY NOT LEND TO ONE OF THEMSELVES . A trustee or co-trustee whose duty it is to invest trust-money on

Section Text

SECTION 54: CO-TRUSTEES MAY NOT LEND TO ONE OF THEMSELVES . A trustee or co-trustee whose duty it is to invest trust-money on mortgage or personal security must not invest it on a mortgage by, or on the personal security of, himself or one of his co-trustees.