Singapore legislation

Section 17

of Business Trusts Act 2004

Section 17

Liquidator of trustee‑manager entitled to exercise indemnity rights

If the trustee‑manager of a registered business trust is being wound up, is under judicial management or receivership or has executed a deed of company arrangement that has not terminated —

(a)

any provision of the trust deed of the registered business trust or of another instrument which purports to deny the trustee‑manager a right to be indemnified out of the trust property of the registered business trust that the trustee‑manager would have had if it were not being wound up, under judicial management or receivership or if it had not executed a deed of company arrangement (as the case may be) is void against the liquidator, judicial manager or receiver of the trustee‑manager or the executor of the deed of company arrangement, as the case may be; and

(b)

any right of the trustee‑manager to be indemnified out of the trust property of the registered business trust is to be exercised by the liquidator, judicial manager or receiver of the trustee‑manager or the executor of the deed of company arrangement, as the case may be.

Read in full context — Business Trusts Act 2004 →