2147. Loans and Investments by trustees not chargeable as breaches of trust
A trustee lending money on the security of any property on which he or she can properly lend shall not be chargeable with breach of trust by reason only of the proportion borne by the amount of the loan to the value of the property at the time when the loan was made, if it appears to the Court––
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(a) that in making the loan the trustee was acting upon a report as to the value of the property made by a person whom he or she reasonably believed to be an able practical surveyor or valuer instructed and employed independently of any owner of the property, whether such surveyor or valuer carried on business in the locality where the property is situate or elsewhere; and
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(b) that the amount of the loan does not exceed ⅔ parts of the value of the property as stated in the report; and
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(c) that the loan was made under the advice of the surveyor or valuer expressed in the report.