Trusts and Trustees Act (Cap. 331), article 32

32. (1) Where in any transaction or matter affecting a trust a trustee informs a third party th at he is acting as trustee, a c laim by such third party in relation thereto shall extend only to the t rust property. ( 2 ) W h e r e i n a n y s u c h t r a n s a c t i o n o r m a t t e r a t r u s t e e f a i l s t o inform a third party that he is acting as trustee, and that par ty is otherwise unaware of it, the trustee - (a) shall be personally liable to such third party in respect thereof; and (b) shall have a right of recourse to the trust property by way of indemnity against such liability, unless the trustee acted in breach of trust. (3) In this article "third party" means any person not being a settlor, a trustee or a b eneficiary of the trust. Constructive trustees. Amended by: XI. 2014.7.