S.L. 370.53 Art. 20Indemnification by the general partner.

(1) Subject to the provisions of the Partnership

Agreement and of sub-regulation (2), the general partner may indemnify any partner from and against all or any claims, demands, debts and other liabilities whatsoever, and may also purchase and maintain for any partner insurance against any such liability as aforesaid.

(2) The general partner shall not however indemnify any partner against any liability which, by virtue of any provision of the law, would attach to him in respect of negligence, default or breach of duty or otherwise of which he may be guilty in relation to the Special Limited Partnership Fund:

Provided that a general partner may indemnify any such partner against any liability incurred by him in defending any proceedings in which judgment is given in his favour or in which he is acquitted:

Provided further that nothing in this sub-regulation shall be construed as preventing or restricting any partner from personally obtaining insurance cover against any such liability.