Singapore legislation
Clause 27
Clause 27
Provisions indemnifying officers of trustee-manager and auditors of registered business trust
(1)
Except as otherwise provided in this Act, any provision (whether in the trust deed of a registered business trust, in any contract entered into by the trustee-manager of a registered business trust or its officer or auditor or whenever and however arising) that exempts any officer of the trustee-manager or auditor of the registered business trust from, or indemnifies such officer or auditor against, any liability which by law would otherwise attach to such officer or auditor in respect of any negligence, default, breach of duty or breach of trust of which such officer or auditor may be guilty in relation to the registered business trust shall be void.
(2)
This section shall not prevent the trustee-manager of a registered business trust —
from purchasing and maintaining for such officer insurance against any liability referred to in subsection (1); or
from indemnifying such officer or auditor against any liability incurred by such officer or auditor —
in defending any proceedings (whether civil or criminal) in which judgment is given in his favour or in which he is acquitted; or
in connection with any application in which relief is granted to him by the court.