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Section 40 Bringing of action for damages for loss resulting from trustee’s act or omission in ordinary course of administrationI1

Scotland Not yet in force

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This section applies where—

(a)

in consequence of the act or omission of a trustee (in this section referred to as “T”), a person other than a trustee suffers loss, and

(b)

that act or omission arises in the ordinary course of administering the trust.

(2)

Any action for damages in respect of that loss may be brought—

(a)

against the body of trustees,

(b)

on the basis of personal liability, against T, or

(c)

jointly and severally, against both the body of trustees and T.

(3)

At any time before final judgement in proceedings brought as mentioned in subsection (2)(a), the court may, under rules of court, allow the body of trustees an amendment—

(a)

adding T, as an additional defender, to the instance of the principal writ, and

(b)

directing existing or additional conclusions or craves, averments and pleas-in-law against T.

Annotations

Commencement

I1

S. 40 not in force at Royal Assent, see s. 88(3)