Singapore legislation

Section 13

Improper employment of trust property for partnership purposes

If a partner, being a trustee, improperly employs trust property in the business or on the account of the partnership, no other partner is liable for the trust property to the persons beneficially interested therein:Provided that —

(a)

this section shall not affect any liability incurred by any partner by reason of his having notice of a breach of trust; and

(b)

nothing in this section shall prevent trust money from being followed and recovered from the firm if still in its possession or under its control.

Read in full context — Partnership Act →