Singapore legislation
Clause 32
Clause 32
Limitation of liability of unitholders
(1)
For the avoidance of doubt, a unitholder of a registered business trust shall not be 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 such 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) shall apply notwithstanding —
any provision to the contrary in the trust deed of the registered business trust; or
the winding up of the registered business trust.