Trustee liability for debenture holders: indemnity clauses void unless authorised by a debenture-holder supermajority resolution. Trustees cannot be exempted from or indemnified against liability for breach of trust where they fail to show the required degree of care and diligence; releases given before the statute remain valid, and releases or extensions of benefit may be authorised thereafter by a resolution of the requisite debenture-holder majority, applying to all trustees or to named trustees as specified, or by court-approved meeting procedures where the deed is silent.