# Trusts and Succession (Scotland) Act 2024, Section 36: Trustees’ personal liability for beneficiary’s loss

Extent: S
Status: prospective

(1) Except in so far as the trust deed, expressly or by implication, provides otherwise, a trustee only has personal liability for any loss to a beneficiary which results from—
(a) the trustee’s own acts or omissions, or
(b) a breach of trust, or of fiduciary duty, by a co-trustee if the trustee failed to take reasonable steps to ensure that the co-trustee did not commit the breach.
(2) This section applies—
(a) irrespective of when the trust was created, but
(b) only as respects—
(i) an act,
(ii) an omission, or
(iii) a breach of trust or of fiduciary duty,
occurring after the section comes into force.
(3) This section is subject to the other provisions of this Act concerning the personal liability of trustees (including, in particular, sections 39, 40 and 70).

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Source: https://www.legislation.gov.uk/asp/2024/2/section/36 (the official version)
Page: https://openlegislation.uk/trusts-and-succession-scotland-act-2024/section-36
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.