s 105 Power of court to grant relief
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 the person is or may be liable in respect thereof but that the person has acted honestly and reasonably and that, having regard to all the circumstances of the case, including those connected with the person’s appointment, the person ought fairly to be excused for the negligence, default or breach, the court may relieve the person either wholly or partly from the person’s liability on any terms that the court thinks fit. (2) To avoid doubt and without limiting 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 the person in respect of any negligence, default, breach of duty or breach of trust, the person may apply to the court for relief, and the court has the same power to relieve the person under this section as it would have had if it had been a court before which civil proceedings against the person for negligence, default, breach of duty or breach of trust had been brought. (4) This section applies 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.