On 25/05/2013,
you requested for the version in force on 25/05/2013
incorporating all amendments published on or before 25/05/2013.
The closest version currently available is that of 18/04/2013.
105.
—(1) If, in any civil proceedings for negligence, default, breach of duty or breach of trust against a person to whom this section applies, it appears to the court before which the proceedings are taken that he is or may be liable in respect thereof but that he has acted honestly and reasonably and that, having regard to all the circumstances of the case, including those connected with his appointment, he ought fairly to be excused for the negligence, default or breach, the court may relieve him either wholly or partly from his liability on such terms as the court thinks fit.
(2) For the avoidance of doubt and without prejudice to the generality of subsection (1), “liability” includes the liability of a person to whom this section applies to account for profits made or received.
(3) Where any person to whom this section applies has reason to apprehend that any claim will or might be made against him in respect of any negligence, default, breach of duty or breach of trust, he may apply to the court for relief, and the court shall have the same power to relieve him under this section as it would have had if it had been a court before which civil proceedings against him for negligence, default, breach of duty or breach of trust had been brought.
(4) This section shall apply to the following persons:
(a)
the trustee-manager of a registered business trust;
(b)
officers of the trustee-manager of a registered business trust;
(c)
persons employed by the trustee-manager of a registered business trust as auditors, whether they are or are not officers of the trustee-manager; and
(d)
persons who are liquidators appointed or directed by the court to carry out any duty under this Act in relation to a registered business trust and all other persons so appointed or so directed.
[Companies 1994 Ed., s. 391]