Laws of Bangladesh

The Investment Corporation of Bangladesh Ordinance, 1976

( Ordinance NO. XL OF 1976 )

Indemnity of Directors
1[19. (1) Every Director, officer or other employee of the Corporation shall be indemnified by the Corporation against all losses and expenses reasonably incurred by him in the discharge of his duties except such as are caused by his own wilful act or default.
(2) No suit, prosecution or other legal proceedings shall lie against the Chairman, the Managing Director, or other
Directors, or any officer or employee of the Corporation or any other person authorised by the Corporation to discharge any function for anything done or intended to be done in good faith under this Ordinance.]

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    Section 19 was substituted by section 7 of the Investment Corporation of Bangladesh (Amendment) Act, 2000 (Act No. XXIV of 2000)
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