Business Trusts Act 2004 · 2020 Revised Edition · Part 3 · Trustee‑Manager
25. Effect of change of trustee‑manager on documents, etc., to which resigning trustee‑manager is a party
Feedback & supportAny document or agreement entered into by the resigning trustee‑manager of a registered business trust on behalf of the registered business trust —
document
“document” has the meaning given by section 4(1) of the Companies Act 1967;
to which the resigning trustee‑manager is a party, in which a reference is made to the resigning trustee‑manager or under which the resigning trustee‑manager has acquired or incurred any right, obligation or liability or might have acquired or incurred any right, obligation or liability if it had remained the trustee‑manager of the registered business trust; and
that is capable of having effect after the appointment of the replacement trustee‑manager or the temporary trustee‑manager of the registered business trust, as the case may be,has effect, from the effective date of appointment of the replacement trustee‑manager or temporary trustee‑manager under section 18 (as the case may be) as if the replacement trustee‑manager or temporary trustee‑manager, as the case may be, (and not the resigning trustee‑manager) were a party to it, were referred to in it or had or might have acquired or incurred the right, obligation or liability under it.
Subsection (1) does not apply to any right, obligation or liability that remains the right, obligation or liability of the resigning trustee‑manager by virtue of section 24(2).
resigning trustee‑manager
“resigning trustee‑manager” means the trustee‑manager of a registered business trust that, in accordance with this Act, proposes to resign, is removed or has resigned from the position of trustee‑manager of the registered business trust;