26AImproper loans, trustees' limited liability for

##### 26A. Improper loans, trustees’ limited liability for (1) If a trustee improperly advances trust money on a security that would at the time of the investment have been a proper investment if the sum advanced had been smaller than the actual sum advanced, the security shall be taken to be a proper investment in respect of the smaller sum, and the trustee is only liable to make good the difference between the sum advanced and the smaller sum, with interest. (2) This section applies to investments made before or after the coming into operation of the *Trustees Amendment Act 1997* 1. [Section 26A inserted: No. 1 of 1997 s. 6.]