Part 11 — Trust Indentures Division 1 Interpretation and Application
257 Duty
must
(a) act honestly and in good faith with a view to the best
interests of the holders of the debt obligations issued under
the trust indenture, and
(b) exercise the care, diligen ce and skill of a reasonably prudent
trustee.
(2) Notwithstanding subsection (1), a trustee is not liable if the
trustee relies in good faith on statements contained in a statutory
declaration, certificate, opinion or report that complies with this
Act or the trust indenture.