Singapore legislation

Section 32

of Business Trusts Act 2004

Section 32

Limitation of liability of unitholders

(1)

To avoid doubt, a unitholder of a registered business trust is not liable to contribute to the registered business trust or in respect of any debts, liabilities or obligations incurred by the trustee‑manager in its capacity as trustee‑manager for the registered business trust, other than the outstanding amounts of money (if any) which the unitholder has expressly agreed to contribute to the registered business trust.

(2)

The limitation of the liability of a unitholder of a registered business trust referred to in subsection (1) applies despite —

(a)

any provision to the contrary in the trust deed of the registered business trust; or

(b)

the winding up of the registered business trust.

Read in full context — Business Trusts Act 2004 →