Trustee to prevent active waste Accounts and information SECTION 18 19 Investment of trust-money Mortgage of land pledged to Government under Act XXVI of 1871 Deposit in Government Savings Bank Sale by trustee directed to sell within specified time. Liability for breach of trust No set-off allowed to trustee Non-liability for predecessor's default Non-liability for co-trustee's default. Several liability of co-trustees. Contribution as between co-trustees . 20 21 13. 22 23 24 25 27 10. Non-liability of trustee paying without notice of transfer by beneficiary. 28 Liability of trustee where beneficiary's interest is forfeited to Government 29 Indemnity of trustees 30 Right to apply to Court for opinion in management of trust-property 35 General authority of trustee Power to sell in lots, and either by public auction or private contract 37 35 Power to apply property of minors &c. for their maintenance, &c. Power to compound, &c. Power to several trustees of whom one disclaims or dies Suspension of trustee's powers by decree. CHAPTER V. OF THE DISABILITIES OF TRUSTEES. Trustee cannot renounce after acceptance. Trustee cannot delegate Co-trustees cannot act singly Control of discretionary power. Trustee may not charge for services. Trustee may not use trust-property for his own profit SECTION Trustee for sale or his agent may not buy Trustee may not buy beneficiary's interest without permission. Trustee for purchase Co-trustees may not lend to one of themselves. CHAPTER VI. OF THE RIGHTS AND LIABILITIES OF THE BENEFICIARY. Rights to rents and profits Right to specific execution Right to transfer of possession. Right to inspect and take copies of instrument of trust, accounts, &c. Right to transfer beneficial interest . Right to sue for execution of trust Right to proper trustees Right to compel to any act of duty Wrongful purchase by trustee Following trust-property into the hands of third persons. Wrongful employment by partner-trustee of trust-property for partnership 64 65 Where obligation in nature of trust is created. Where it does not appear that transferor intended to dispose of beneficial Transfer to one for consideration paid by another Trust incapable of execution or executed without exhausting trust- Property acquired with notice of existing contract Purchase by person contracting to buy property to be held on trust . Advantage secretly gained by one of several compounding creditors . Constructive trusts in cases not expressly provided for ACT No. II OF 1882. PASSED BY THE GOVERNOR GENERAL OF Received the assent of the Governor General on the 13th January, 1882. An Act to define and amend the law relating to WHEREAS it is expedient to define and amend the law Preamble. relating to private trusts and trustees; It is hereby enacted ment. 1. This Act may be called 'The Indian Trusts Act, 1882': Short title. and it shall come into force on the first day of March, 1882. CommenceIt extends in the first instance to the territories respectively Local administered by the Governor of Madras in Council, the extent. Lieutenant-Governors of the North-Western Provinces and the Panjab, the Chief Commissioners of Oudh, the Central Provinces, Coorg and Assam; and the Local Government may from time to time, by notification in the official Gazette, extend it to any other part of British India1. But nothing Savings. herein contained affects the rules of Muhammadan law as to waqf, or the mutual relations of the members of an undivided family as determined by any customary or personal law, or applies to public or private religious 2 or charitable endow That such a power is valid, see The Queen v. Burah, L. R., 5 I. A. 178 (S. C. 4 Cal. 172), per Lord Selborne. A suit will lie to compel the heir of the deceased manager of a Hindú temple to make good out of the 2 property inherited by him the defi- |