Indemnification by company limited: defence costs reimbursable only after officers secure favourable judicial termination of proceedings. A company is precluded from using its funds to exempt or indemnify officers or auditors against liabilities for negligence, default, misfeasance, breach of duty or breach of trust; such provisions are void. A company may, however, indemnify an officer or auditor for defence costs only where judgment is given in the officer's favour, the officer is acquitted or discharged, or court relief is granted on a statutory application, so reimbursement arises only after a favourable termination of proceedings.