Singapore legislation

Section 40

of Business Trusts Act 2004

Section 40

Civil liability of trustee‑managers to unitholders

(1)

Any unitholder of a registered business trust who suffers loss or damage because of any conduct of the trustee‑manager of the registered business trust which contravenes any provision of this Act may recover the amount of the loss or damage by action against the trustee‑manager, whether or not the trustee‑manager has been convicted of an offence in respect of the contravention.

(2)

Any action under subsection (1) must commence within 6 years after the cause of action arises.

(3)

This section does not affect any liability that any person has under any other provision of this Act or under any other written law or rule of law.

Read in full context — Business Trusts Act 2004 →