CORPORATIONS ACT 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES  

PART 5D.6 - ASIC-APPROVED TRANSFERS OF ESTATE ASSETS AND LIABILITIES  

Division 2 - Transfer of estate assets and liabilities  

SECTION 601WBK   LIABILITIES FOR BREACH OF TRUST AND OTHER MATTERS NOT AFFECTED BY THIS PART  

601WBK(1)   [ Liabilities of company, officer or employee not affected]  

Nothing in this Part applies to or affects liabilities of the transferring company, or of an officer or employee of the transferring company, for:


(a) any breach of trust; or


(b) any other misfeasance or nonfeasance; or


(c) any exercise of, or failure to exercise, any discretion.

601WBK(2)   [ Indemnity not affected]  

Nothing in this Part affects any rights of the transferring company, or of an officer or employee of the transferring company, to indemnity in respect of such liabilities.


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