Is a unitholder required to indemnify the trustee under your unit trust deed?

 

We confirm that under our trust deed, a unitholder’s liability is limited to the issue price for their units and unitholders are not required to indemnify the trustee for the debts of the trust.

The relevant clause in the deed reads:

Notwithstanding any other provision of this document, no Unitholder is under any obligation to indemnify the Trustee or any creditor of the Trustee for any of the liabilities of the Trustee in relation to or arising in connection with the Trust Fund and any alleged right of indemnity (whether by way of subrogation or otherwise) is expressly excluded.

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