(1) The proprietor of
any land or of any lease mortgage or charge shall on the application of any
beneficiary or person interested therein be bound to allow his name to be used
by such beneficiary or person in any action suit or proceeding which it may be
necessary or proper to bring or institute in the name of such proprietor
concerning such land lease mortgage or charge or for the protection or benefit
of the title vested in such proprietor or of the interest of any such
beneficiary or person.
(2) Such proprietor
shall in any such case be entitled to be indemnified in like manner as if
being a trustee he would before the passing of this Act have been entitled to
be indemnified in a similar case of his name being used in any such action
suit or proceeding by his cestui que trust .
[Section 229 amended: No. 19 of 2010 s. 51.]