South Australian Consolidated Acts South Australian Consolidated Acts13B—Limitation of liability of trustee for loss on improper investments
(1) If a trustee
improperly lends trust money on a security that would have been a proper
investment if the sum lent had been smaller than the actual sum lent, the
security is to be taken to be a proper investment in respect of the smaller
sum, and the trustee is only liable to make good the difference between the
sum advanced and the smaller sum, with interest.
(2) This section
applies to investments made before or after the commencement of the Trustee
(Investment Powers) Amendment Act 1995 .