Section Sch7-“ 110A — Property Law Act 2007: No defence or indemnity

“ 110A No defence or indemnity “ (1) It is not a defence to a proceeding against a secured party for a breach of the duty imposed by section 110 that the secured party was acting as the agent of, or under a power of attorney from, the debtor or any former debtor. “ (2) A secured party is not entitled to compensation or indemnity from the collateral or from the debtor, any former debtor, or any guarantor for any liability arising from a breach of the duty imposed by section 110. “ (3) This section applies despite anything to the contrary in any instrument or in any rule of law. “ Compare: 1952 No 51 s 103B ” .