Claimant’s fraud or lack of care
5(1)No indemnity is payable under this Schedule on account of any loss suffered by a claimant—
(a)wholly or partly as a result of his own fraud, or
(b)wholly as a result of his own lack of proper care.
(2)Where any loss is suffered by a claimant partly as a result of his own lack of proper care, any indemnity payable to him is to be reduced to such extent as is fair having regard to his share in the responsibility for the loss.
(3)For the purposes of this paragraph any fraud or lack of care on the part of a person from whom the claimant derives title (otherwise than under a disposition for valuable consideration which is registered or protected by an entry in the register) is to be treated as if it were fraud or lack of care on the part of the claimant.