[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here:  BAILII >> Databases >> Northern Irish Legislation >> COMPANIES ACT (NORTHERN IRELAND) 1960

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 196

196. Subject as hereinafter provided, any provision, whether contained in the
articles of a company or in any contract with a company or otherwise, for
exempting any officer of the company or any person (whether an officer of
the company or not) employed by the company as auditor from, or indemnifying
him against, any liability which by virtue of any rule of law would otherwise
attach to him in respect of any negligence, default, breach of duty or breach
of trust of which he may be guilty in relation to the company shall be void,
so, however, that

(a)nothing in this section shall operate to deprive any person of any
exemption or right to be indemnified in respect of anything done or omitted to
be done by him while any such provision was in force; and

(b)notwithstanding anything in this section, a company may, in pursuance of
any such provision as aforesaid, indemnify any such officer or auditor against
any liability incurred by him in defending any proceedings, whether civil or
criminal in which judgment is given in his favour or in which he is acquitted
or in connection with any application under section three hundred and
ninety-four in which relief is granted to him by the court.

Power to compromise with creditors and members.

© 1960 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/cai1960267/s196.html