§ 208A — Provisions indemnifying auditors

208A.—(1) Any provision, whether in the constitution or in any contract with a company or otherwise, for exempting any auditor of the company from, or indemnifying the auditor against, any liability which by law would otherwise attach to the auditor in respect of any negligence, default, breach of duty or breach of trust of which the auditor may be guilty in relation to the company is void.[36/2014]

(2) This section does not prevent a company from indemnifying such auditor against any liability incurred or that will be incurred by the auditor —(a)

in defending any proceedings (whether civil or criminal) in which judgment is given in the auditor’s favour or in which the auditor is acquitted; or

(b)

in connection with any application under section 76A(13) or 391 or any other provision of this Act, in which relief is granted to the auditor by the court.[36/2014]

—(1) Any provision, whether in the constitution or in any contract with a company or otherwise, for exempting any auditor of the company from, or indemnifying the auditor against, any liability which by law would otherwise attach to the auditor in respect of any negligence, default, breach of duty or breach of trust of which the auditor may be guilty in relation to the company is void.[36/2014]

(2) This section does not prevent a company from indemnifying such auditor against any liability incurred or that will be incurred by the auditor —(a)

in defending any proceedings (whether civil or criminal) in which judgment is given in the auditor’s favour or in which the auditor is acquitted; or

(b)

in connection with any application under section 76A(13) or 391 or any other provision of this Act, in which relief is granted to the auditor by the court.[36/2014]