VICIn ForceAct
State Bank (Succession of Commonwealth Bank) Act 1990
38Immunity of directors and officers
Start here
Get a plain-English read of 38
Turn the raw legal text into a practical explanation grounded in State Bank (Succession of Commonwealth Bank) Act 1990.
38 Immunity of directors and officers
(1) No liability attaches to a person who is or was a director or officer of Tricontinental for any act or omission done or made, in good faith, and in carrying out, or purporting to carry out, the duties of his or her office as such a director or officer after the commencement of this section.
(2) Any liability that, but for subsection (1), would attach to a director or officer of Tricontinental shall attach instead to Tricontinental Holdings Limited.
s. 38