13.1 No member of the Council or office-bearer of the Institute shall be liable for the acts, neglect, or default of any other, or for any loss damage or expense suffered or incurred by the Institute arising or resulting from the defect of or deficiency in the title to any property acquired by the Institute or from the bankruptcy, insolvency or liquidation of any person or corporate body with whom any monies, securities or effects may be deposited or from the execution of his respective duties unless the same shall be occasioned by his own wilful default.
