Lawgist33Indemnity of director
(1) Every director shall be indemnified by the Exim Bank against all losses and expenses incurred by him, in, or in relation to, the discharge of his duties, except such as are caused by his own wilful act or default.
(2) A director shall not be responsible for any other director or for any officer or other employees of the Exim Bank or for any loss or expenses resulting to the Exim Bank from the insufficiency or deficiency of the value of, or title to, any property or security acquired or taken on behalf of the Exim Bank or the insolvency or wrongful act of any debtor or any person under obligation to the Exim Bank or anything done in good faith in the execution of the duties of his office or in relation thereto.
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- 27 Staff of Exim Bank
- 28 Delegation of powers
- 29 Returns
- 30 Obligation as to fidelity and secrecy
- 31 Defects in appointments not to invalidate acts, etc
- 32 Arrangement with Exim Bank on appointment of directors to prevail
- 33 Indemnity of director
- 34 Protection of action taken in good faith
- 35 Act 18 of 1891 to apply in relation to Exim Bank
- 36 Section 34A and section 36AD only of Act 10 of 1949 to apply to Exim Bank
- 37 Omitted
- 38 Liquidation of Exim Bank
- 39 Power to make regulations
- 40 REPEALED
- 41 Power to remove difficulty
