sec.698Protection from personal liability for persons exercising Regulator’s or Board’s functions under this Law

sec.698 Protection from personal liability for persons exercising Regulator’s or Board’s functions under this Law

A person who is or was a protected person does not incur civil liability personally for anything done or omitted to be done in good faith— in the exercise of a function of the Regulator or the Board under this Law; or in the reasonable belief that the act or omission was the exercise of a function of the Regulator or the Board under this Law. Any liability resulting from an act or omission that would, but for the purposes of subsection (1) , attach to a protected person attaches instead to the Regulator. In this section— protected person means an individual who is any of the following— a member of the Board; a member of a committee of the Board; a member of the staff of the Regulator; an authorised officer; a person to whom the Regulator has delegated any of its functions or to whom functions delegated by the Regulator have been subdelegated; a person acting under the direction or authority of a person mentioned in paragraphs (a) to (e) , including, for example, a person helping an authorised officer or an assistant mentioned in section 518 , 519 or 523 ; a person— who constitutes a body corporate that exercises functions of the Regulator under this Law; and who is, or is of a class, prescribed by the national regulations; any other person exercising functions of the Regulator under this Law. s 698 ins 2013 No. 4 s 12 (sec.698-ssec.1) A person who is or was a protected person does not incur civil liability personally for anything done or omitted to be done in good faith— in the exercise of a function of the Regulator or the Board under this Law; or in the reasonable belief that the act or omission was the exercise of a function of the Regulator or the Board under this Law. (sec.698-ssec.2) Any liability resulting from an act or omission that would, but for the purposes of subsection (1) , attach to a protected person attaches instead to the Regulator. (sec.698-ssec.3) In this section— protected person means an individual who is any of the following— a member of the Board; a member of a committee of the Board; a member of the staff of the Regulator; an authorised officer; a person to whom the Regulator has delegated any of its functions or to whom functions delegated by the Regulator have been subdelegated; a person acting under the direction or authority of a person mentioned in paragraphs (a) to (e) , including, for example, a person helping an authorised officer or an assistant mentioned in section 518 , 519 or 523 ; a person— who constitutes a body corporate that exercises functions of the Regulator under this Law; and who is, or is of a class, prescribed by the national regulations; any other person exercising functions of the Regulator under this Law.

• (a) in the exercise of a function of the Regulator or the Board under this Law; or