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Baxi Partnership Limited Trusts Act 2000
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- UK Local Acts
- 2000 c. iv
- SCHEDULE
- Paragraph 19
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19LIMITATION OF THE TRUSTEES' LIABILITY
19.1No Trustee shall be liable for any damage or loss which may happen to any property or monies subject to the trusts hereof or the income thereof at any time or from any cause whatsoever unless such damage or loss shall be caused by his own actual fraud.
19.2Without limiting sub-clause 19.1 above or limiting any other provision of this Deed—
(a)the Trustees shall not be liable for any loss arising as a result of their retaining shares in or securities of BPL or any company within Baxi Group so long as they shall think fit so to do; and
(b)the Trustees shall be under no obligation to diversify the investment of the Trust Fund in a manner inconsistent with the promotion of the main purpose of the Trust as set out in Clause 2 of this Deed.
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