Saving as respects liability of trustees
25.Section 11 of the Act re-enacts – with modification – the current law, which is in the final sentence of section 3 of the 1921 Act. Under the current law, the resignation or removal of a trustee does not affect any liability which had been incurred prior to that event. Section 11 puts that beyond doubt. It also provides that, where a new trustee is assumed or appointed, any liability which had been incurred by the trustee body as constituted immediately prior to that event is unaffected.
