534Indemnity, borrowing and guarantees

534 Indemnity, borrowing and guarantees The powers of ACCS do not include a power— (a) to exempt (whether directly or indirectly) a director from, or to indemnify (whether by paying a premium in respect of a contract of insurance or otherwise) a director 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 ACCS; or (b) to borrow or invest money; or (c) to give guarantees; or (d) to make loans to directors. S. 535 substituted by No. 73/2016 s. 15.