32. Limitation of liability of unitholders

Terms defined in s 2

• deed

  deed

  Defined · s 2

  “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;

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• liabilities

  liabilities

  Defined · s 2

  “liabilities”, in relation to a registered business trust, means the liabilities incurred by the trustee‑manager of the registered business trust on behalf of the registered business trust;

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• registered business trust

  registered business trust

  Defined · s 2

  “registered business trust” means a business trust that is registered by the Authority under section 4(1);

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• trustee‑manager

  trustee‑manager

  Defined · s 2

  “trustee‑manager”, in relation to a registered business trust, includes a replacement trustee‑manager and temporary trustee‑manager;

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• unitholder

  unitholder

  Defined · s 2

  “unitholder” means a person who holds units in a business trust;

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