Indemnity for costs of defending proceedingsU.K.
533Indemnity for costs of successfully defending proceedingsU.K.
Section 532 (general voidness of provisions protecting auditors from liability) does not prevent a company from indemnifying an auditor against any liability incurred by him—
(a)in defending proceedings (whether civil or criminal) in which judgment is given in his favour or he is acquitted, or
(b)in connection with an application under section 1157 (power of court to grant relief in case of honest and reasonable conduct) in which relief is granted to him by the court.
Modifications etc. (not altering text)
C1Ss. 484-539 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 11 (with transitional provisions and savings in regs. 7, 9, Sch. 2)
Commencement Information
I1S. 533 wholly in force at 6.4.2008; s. 533 not in force at Royal Assent see s. 1300; s. 533 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(e) (with savings in arts. 7, 12 and subject to transitional adaptations in Sch. 1 para. 11 and with savings in Sch. 4 paras. 9-19)