33Indemnity

33 Indemnity

The powers of an electricity corporation do not include a power to exempt, whether directly or indirectly, a director of the corporation from, or to indemnify (whether by paying a premium in respect of a contract of insurance or otherwise) a director of the corporation against, any liability that by law would otherwise attach to the director in respect of a wilful breach of duty or breach of trust of which the director may be guilty in relation to the corporation.

S. 34 amended by Nos 53/1994 s. 11(4)(d)(i)–(iii), 110/1994 s. 33(2), repealed by No. 8/1996 s. 7.