(1) Subject to the provisions of this Act and to the terms of an international trust a trustee who commits or concurs in a breach of an international trust is liable for—
(a) any loss or depreciation in value of the property of the international trust resulting from the breach; and
(b) any profit which would have accrued to the international trust had there been no breach.
(2) A trustee shall not set-off a profit accruing from one breach of an international trust against a loss or depreciation in value resulting from another breach of an international trust.
(3) A trustee is not liable for a breach of an international trust, committed by another person prior to his or her appointment or for a breach of an international trust committed by a co-trustee unless—
(a) the trustee becomes or ought to have become aware of the breach; and
(b) the trustee actively conceals the breach, or fails within a reasonable time to take proper steps to protect or restore the trust property or to prevent the breach.
(4) Where trustees are liable for a breach of an international trust, they are liable jointly or severally.
(5) A trustee who becomes aware of a breach of an international trust shall take all reasonable steps to have the breach remedied.
(6) Nothing in the terms of an international trust shall relieve a trustee of liability for a breach of the international trust arising from, the trustee's own fraud, self dealing or willful misconduct.