Corporate officers may obtain judicial relief from liability if they acted honestly and reasonably, subject to procedural notice. The court may relieve a corporate officer wholly or partly from liability for alleged negligence, default, breach of duty, misfeasance or breach of trust if the officer has acted honestly and reasonably and the court, considering all circumstances including appointment, deems relief fair; relief in criminal proceedings cannot extend to civil liability. The High Court may grant identical preemptive relief on application, and no relief may be granted unless the court has served notice requiring the Registrar and any other necessary persons to show cause why relief should not be granted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Corporate officers may obtain judicial relief from liability if they acted honestly and reasonably, subject to procedural notice.
The court may relieve a corporate officer wholly or partly from liability for alleged negligence, default, breach of duty, misfeasance or breach of trust if the officer has acted honestly and reasonably and the court, considering all circumstances including appointment, deems relief fair; relief in criminal proceedings cannot extend to civil liability. The High Court may grant identical preemptive relief on application, and no relief may be granted unless the court has served notice requiring the Registrar and any other necessary persons to show cause why relief should not be granted.
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