(1) Where a trustee improperly advances trust money on a mortgage security
which would at the time of investment be a proper investment in all respects
for a smaller sum than is actually advanced, then the trustee is only liable
to make good the sum advanced in excess of the smaller sum with interest.
(2)
This section extends to transfers of existing mortgages as well as to new
mortgages.
(3) This section applies to investments made either before or
after the commencement of this Act.
