A trustee's right of indemnity from trust assets extends to damages awarded for contraventions of s 52 of the Trade Practices Act 1974 (Cth), by analogy with the established right to indemnity for tort damages. The right is lost only where the conduct involved breach of trust, criminality, or fraud — not merely because the conduct was 'unreasonable' or 'improper'. The mere fact of contravention of s 52 cannot of itself be determinative of whether there has been a breach of the trustee's duty to exercise reasonable care in the management of the trust.
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