The Trustee (Amendment) Act 2016 (“TAA 2016”), which recently came into force, has amended the Trustee Act (the “Principal Act”) (a) to clarify that an outgoing trustee is restricted from claiming a release in respect of liabilities for breach of trust or for which he would not have been entitled to a release had he remained a trustee, (b) to clarify that a release given by any continuing or new trustees is limited to the trust property in their possession or under their control from time to time, and (c) to allow settlors and donors of property to a trust to benefit from non-alienation provisions in the trust.
