Section 66 — Trusts Act 2019: Trustee not liable for certain losses in relation to amounts paid or applied for beneficiary’s welfare

66 Trustee not liable for certain losses in relation to amounts paid or applied for beneficiary’s welfare A trustee is not liable for any loss that may be incurred in relation to an amount that is paid or applied for a beneficiary’s welfare if the loss arises— (a) because of a failure to impose any or adequate conditions under section 65 ; or (b) without limiting paragraph (a), because of a failure to take security or adequate security; or (c) because of a failure to take action for the protection of the security (including a failure to exercise a right to enforce the security); or (d) through the release or abandonment of the security without payment; or (e) from any other matter in relation to the conditions imposed or the waiver of any condition. Compare: 1956 No 61 s 41A(4) ; Draft Trusts Bill 2013 cl 103 (Qld)