THE CORPORATIONS LAW
CCH Note:
Part 13 of the Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 2D - OFFICERS AND EMPLOYEES
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Hide history notePART 2D.2 - RESTRICTIONS ON INDEMNITIES, INSURANCE AND TERMINATION PAYMENTS
Division 1 - Indemnities and insurance for officers and auditors
SECTION 199B INSURANCE PREMIUMS FOR CERTAIN LIABILITIES OF DIRECTOR, SECRETARY, OTHER OFFICER OR AUDITOR 199B A company or a related body corporate must not pay, or agree to pay, a premium for a contract insuring a person who is or has been an officer or auditor of the company against a liability (other than one for legal costs) arising out of: (a) conduct involving a wilful breach of duty in relation to the company; or (b) a contravention of section 182 or 183. This section applies to a premium whether it is paid directly or through an interposed entity.This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.