Malaysia legislation

Section 23

of Administration of Estates Ordinance, 1933

Section 23

(2)

If an executor or administrator—

(a)

continues at a loss a business of which the deceased was sole proprietor; or

(b)

allows the deceased’s share in any business in which he was a partner and which is being continued at a loss by the remaining partners to remain in the business without taking steps to recover such share, he shall be liable to the beneficiaries or heirs to the extent of the loss suffered by the estate, unless he satisfies the Court that his conduct was justifiable in the circumstances.

Executors and administrators not entitled to remuneration

Read in full context — Administration of Estates Ordinance, 1933 →