sec.108Liability for losses incurred during administration

### sec.108 Liability for losses incurred during administration A person appointed by the commissioner to administer the affairs of a category 2 licensee is not liable for any loss incurred by the licensee during the person’s term of office unless the loss was attributable to the person’s— wilful misconduct; or gross negligence; or wilful failure to comply with any provision of this Act. Neither the Crown nor the commissioner is liable for any loss incurred by a category 2 licensee during the term of office of a person appointed under section 106 to administer the affairs of the licensee, whether or not the person is liable. s 108 amd 1999 No. 77 s 35 ; 2012 No. 25 s 110 (sec.108-ssec.1) A person appointed by the commissioner to administer the affairs of a category 2 licensee is not liable for any loss incurred by the licensee during the person’s term of office unless the loss was attributable to the person’s— wilful misconduct; or gross negligence; or wilful failure to comply with any provision of this Act. (sec.108-ssec.2) Neither the Crown nor the commissioner is liable for any loss incurred by a category 2 licensee during the term of office of a person appointed under section 106 to administer the affairs of the licensee, whether or not the person is liable. - (a) wilful misconduct; or - (b) gross negligence; or - (c) wilful failure to comply with any provision of this Act.