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The Trusts Act, 1882

( ACT NO. II OF 1882 )

Chapter V


Trustee may not buy beneficiary’s interest without permission
53. No trustee, and no person who has recently ceased to be a trustee, may, without the permission of a principal Civil Court of original jurisdiction, buy or become mortgagee or lessee of the trust-property or any part thereof; and such permission shall not be given unless the proposed purchase, mortgage or lease is manifestly for the advantage of the beneficiary.

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