COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 394 Saving as to private prosecutors.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 394

Saving as to private prosecutors.

394.(1) If in any proceeding for negligence, default, breach of duty or breach
of trust against an officer of a company or a person employed by a company as
auditor (whether he is or is not an officer of the company) it appears to
the court hearing the case that that officer or person is or may be liable in
respect of the negligence, default, breach of duty or breach of trust, but
that he has acted honestly and reasonably, and that, having regard to all the
circumstances of the case, including those connected with his appointment, he
ought fairly to be excused for the negligence, default, breach of duty or
breach of trust, that court may relieve him, either wholly or partly, from his
liability on such terms as the court may think fit.

(2) Where any such officer or person aforesaid has reason to apprehend that
any claim will or might be made against him in respect of any negligence,
default, breach of duty or breach of trust, he may apply to the court for
relief, and the court on any such application shall have the same power to
relieve him as under this section it would have had if it had been a court
before which proceedings against that person for negligence, default, breach
of duty or breach of trust had been brought.

(3) Where any case to which sub-section (1) applies is being tried by a judge
with a jury, the judge, after hearing the evidence, may, if he is satisfied
that the defendant ought in pursuance of that sub-section to be relieved
either in whole or in part from the liability sought to be enforced against
him, withdraw the case in whole or in part from the jury and forthwith direct
judgment to be entered for the defendant on such terms as to costs or
otherwise as the judge may think proper.

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 394