Business Trusts Act 2004 · 2020 Revised Edition · Part 3 · Trustee‑Manager
27. Provisions protecting officers of trustee-manager from liability
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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 whenever and however arising) that purports to exempt an officer of the trustee-manager (to any extent) from any liability that would otherwise attach to the officer in connection with any negligence, default, breach of duty or breach of trust in relation to the registered business trust is void.
deed
“deed” means any deed which creates a trust or provides for the governance of the affairs of the trust and the conduct of its business and includes any instrument amending or affecting the deed;
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 whenever and however arising) by which the trustee-manager directly or indirectly provides an indemnity (to any extent) for an officer of the trustee-manager against any liability attaching to him or her in connection with any negligence, default, breach of duty or breach of trust in relation to the registered business trust is void, except as permitted by subsection (3) or section 27A.
registered business trust
“registered business trust” means a business trust that is registered by the Authority under section 4(1);
Subsection (2) does not prevent the trustee-manager of a registered business trust from purchasing and maintaining for an officer of the trustee-manager insurance against any liability mentioned in that subsection.
officer
“officer” has the meaning given by section 4(1) of the Companies Act 1967;