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Abstract

From the earliest times, judges have reiterated the notion that a trustee’s exercise of discretion is considered an almost sacrosanct power examinable only upon evidence of mala fides. The contention of this article is that, in the modern commercial environment, there should be a limited tightening of the bounds and controls placed upon trustees in the exercise of their discretion so as to increase trustees’ accountability. The upshot of this is that greater fairness could be accorded to beneficiaries.

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