s 27A Third party indemnity
27A.—(1) Section 27(2) does not apply where the provision for indemnity is against liability incurred by the officer to a person other than the trustee-manager in its capacity as trustee-manager of the registered business trust, except when the indemnity is against —(a) any liability of the officer to pay —(i) a fine in criminal proceedings; or (ii) a sum payable to a regulatory authority by way of a penalty in respect of non-compliance with any requirement of a regulatory nature (however arising); or (b) any liability incurred by the officer —(i) in defending criminal proceedings in which he or she is convicted; (ii) in defending civil proceedings brought by the trustee-manager of the registered business trust or a related corporation of the trustee-manager in which judgment is given against him or her; or (iii) in connection with an application for relief under section 105 in which the court refuses to grant him or her relief. (2) The references in subsection (1)(b) to a conviction, judgment or refusal of relief are references to the final decision in the proceedings. (3) For the purposes of subsection (2) —(a) a conviction, judgment or refusal of relief becomes final —(i) if it is not appealed against — at the end of the period for bringing an appeal; or (ii) if it is appealed against — at the time when the appeal (or any further appeal) is disposed of; and (b) an appeal (or further appeal) is disposed of —(i) if it is determined and there is no right of further appeal, or if there is a right of further appeal, the period for bringing any further appeal has ended; or (ii) if it is abandoned or otherwise ceases to have effect.[Act 30 of 2022 wef 12/03/2024]