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Louis Ng on Business Trusts (Amendment) Bill

03:15 Min

The Business Trusts (Amendment) Bill allows trustee-managers of business trusts to provide loans to directors if they need to defend themselves against criminal or civil proceedings related to alleged negligence, breach of duty or breach of trust. However, it does not seem to apply to defence against regulatory action. MP Louis Ng asked why this distinction was made. He also wanted to know whether the loans would have to be repaid if the charges against the director were withdrawn, and the person given a stern warning or discharge not amounting to an acquittal. Mr Ng spoke in Parliament on Monday (Oct 3).

The Business Trusts (Amendment) Bill allows trustee-managers of business trusts to provide loans to directors if they need to defend themselves against criminal or civil proceedings related to alleged negligence, breach of duty or breach of trust. However, it does not seem to apply to defence against regulatory action. MP Louis Ng asked why this distinction was made. He also wanted to know whether the loans would have to be repaid if the charges against the director were withdrawn, and the person given a stern warning or discharge not amounting to an acquittal. Mr Ng spoke in Parliament on Monday (Oct 3).

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