Trusts Act 2025
sec.247Set off of gains and losses in proceedings for breach of trust
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sec.247 Set off of gains and losses in proceedings for breach of trust
Section 81 applies in relation to a proceeding for a breach of trust in relation to an investment— whether the investment was made before or after the commencement; but only if the proceeding is started after the commencement. The repealed Act, section 30C continues to apply in relation to a proceeding mentioned in the repealed Act, section 30C(1) and started before the commencement as if this Act had not been enacted. (sec.247-ssec.1) Section 81 applies in relation to a proceeding for a breach of trust in relation to an investment— whether the investment was made before or after the commencement; but only if the proceeding is started after the commencement. (sec.247-ssec.2) The repealed Act, section 30C continues to apply in relation to a proceeding mentioned in the repealed Act, section 30C(1) and started before the commencement as if this Act had not been enacted.
- (a) whether the investment was made before or after the commencement; but
- (b) only if the proceeding is started after the commencement.