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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 92

92.(1) Subject to the provisions of this section, any provision to which this
section applies, whether contained in the rules of a building society or in
any contract with a building society or otherwise, shall be void.

(2) This section applies to any provision for

(a)exempting any director or other officer of a building society from 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 society, or

(b)indemnifying any such director or officer against any such liability.

(3) Subsection (1) of this section shall not prevent a building society from
indemnifying a person 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 aquitted.

(4) Section 394 of the Companies Act (Northern Ireland) 1960 (which empowers
the court to grant relief in certain cases of negligence, default, breach of
duty or breach of trust) shall apply in relation to directors and other
officers of a building society as it applies in relation to officers of a
company.

(5) References in this section to an officer of a building society shall be
construed as including references to a person who is employed by a
building society as auditor but, apart from this section, is not an officer of
the society.

1960 c.22

© 1967 Crown Copyright

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