25. (1) Every Director shall be indemnified by the Bank against all losses and expenses incurred by him in the discharge of his duties except such as are caused by his own wilful act or default.
(2) A Director shall not be personally responsible for the acts of any other Director or of any employee of the Bank for any loss or expense resulting to the Bank by reason of the inefficiency or deficiency in value of or title to any property or security acquired or taken on behalf of the Bank or by the wrongful act of any person under a liability acquired or taken on behalf of the Bank or by anything done by him in good faith in the execution of the duties of his office.
Copyright © 2019, Legislative and Parliamentary Affairs Division
Ministry of Law, Justice and Parliamentary Affairs