Section 342: Acts not to be done by trustee

1) Except as otherwise provided for in the memorandum of incorporation, no trustee shall do, or cause to be done, any of the following acts:

(a) To use the trust property in any manner other than in the accomplishment of the object of trust,

(b) To use, or cause to be used, the trust property in any act yielding profit to the trustee himself or herself or to anyone else, except in the accomplishment of the object of trust,

(c) To delegate or hand over the responsibility or obligation of a trustee to another trustee or a person,

Provided that nothing shall bar the appointing of his or her agent or attorney in the course of an ordinary transaction or assigning of any responsibility or obligation if such responsibility or obligation is to be assigned in view of the nature of such transaction or assigning of any responsibility to another person with the consent of the beneficiary, if any, identified.

(d) To carry out any act relating to the trust solely contrary to Section 329, if there is more than one trustee,

(e) To obtain any remuneration, allowance, or facility in consideration for being a trustee,

Provided that nothing shall bar the receiving of reasonable remuneration, allowance, or facility for any work done whole-time or part-time after establishing the office or with the prior permission of the registrar, without prejudicing the object of the trust or benefit of the beneficiary.

(f) To purchase or otherwise receive on pledge, mortgage, lease, or rent the property of the trust for which he or she is a trustee during his or her tenure or before at least three years of his or her retirement from the office of a trustee.

2) The trustee shall not make any economic transaction between his or her private property and the trust property. He or she shall make compensation for the loss, if any, to the trust property from such transaction.

3) The trustee shall not merge his or her property with the trust property.