Partnership Act 1890 s 13
s 13 Improper employment of trust property for partnership purposes
13. If a partner, being a trustee, improperly employs trust property in the business or on the account of the partnership, no other partner is liable for the trust property to the persons beneficially interested therein:Provided that —
(a)
this section shall not affect any liability incurred by any partner by reason of his having notice of a breach of trust; and
(b)
nothing in this section shall prevent trust money from being followed and recovered from the firm if still in its possession or under its control.
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Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
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