12CLiability of trustee for loss on improper investments

### 12C Liability of trustee for loss on improper investments > [*\[Section 12C Inserted by No. 64 of 1997, s. 4, Applied:01 Apr 1998\]*](/view/html/inforce/1998-04-01/act-1997-064#GS4@EN) > > > (1)  If a trustee improperly lends trust money on a security that would have been a proper investment if the amount lent had been smaller than the actual amount lent, the security is to be taken to be a proper investment in respect of the smaller amount, and the trustee is liable only to make good the difference between the amount advanced and the smaller amount, with interest. > > > (2)  This section applies to investments made before or after the commencement of this section.