Victorian Consolidated Legislation

Limitation of Actions Act 1958 - SECT 21

Limitation of actions in respect of trust property

21. Limitation of actions in respect of trust property



(1) No period of limitation prescribed by this Act shall apply to an action by
a beneficiary under a trust, being an action-

   (a)  in respect of any fraud or fraudulent breach of trust to which the
        trustee was a party or privy; or

   (b)  to recover from the trustee trust property or the proceeds thereof in
        the possession of the trustee, or previously received by the trustee
        and converted to his use.

(2) Subject as aforesaid, an action by a beneficiary to recover trust property
or in respect of any breach of trust, not being an action for which a period
of limitation is prescribed by any other provision of this Act, shall not be
brought after the expiration of six years from the date on which the right of
action accrued:

Provided that the right of action shall not be deemed to have accrued to any
beneficiary entitled to a future interest in the trust property until the
interest fell into possession.

(3) No beneficiary as against whom there would be a good defence under this
Act shall derive any greater or other benefit from a judgment or order
obtained by any other beneficiary than he could have obtained if he had
brought the action and this Act had been pleaded in defence.