s 85A Provisions indemnifying auditors
85A.—(1) Any provision, whether in the trust deed of the registered business trust or in any contract with the trustee-manager of a registered business trust or otherwise, for exempting any auditor of the registered business trust from, or indemnifying the auditor against, any liability which by law would otherwise attach to the auditor in respect of any negligence, default, breach of duty or breach of trust of which the auditor may be guilty in relation to the registered business trust is void. (2) This section does not prevent a trustee-manager of a registered business trust from indemnifying an auditor against any liability incurred or that will be incurred by the auditor —(a) in defending any proceedings (whether civil or criminal) in which judgment is given in the auditor’s favour or in which the auditor is acquitted; or (b) in connection with any application under section 105 or any other provision of this Act, in which relief is granted to the auditor by the court.[Act 30 of 2022 wef 12/03/2024]