-
What's new
- All What's new
-
European
- What's new - All
- <hr>
- What's new - last 24 hrs
- What's new - last 7 days
- What's new - last 30 days
- <hr>
- New EU Legislation
- European Commission
- European Banking Authority
- European Securities and Markets Authority
- European Insurance and Occupational Pensions Authority
- <hr>
- Consultations and similar
- Commentaries
- <hr>
- Downloads and Exports
- Latest news by Topics
-
International
- What's new - All
- <hr>
- What's new - last 24 hrs
- What's new - last 7 days
- What's new - last 30 days
- <hr>
- Bank for International Settlements
- Basel Committee on Banking Supervision
- Egmont Group
- International Association of Insurance Supervisors
- International Monetary Fund
- <hr>
- Consultations and similar
- Commentaries
- <hr>
- Downloads and Exports
- Latest news by Topics
- Downloads and Exports
- Legislation
- Organisations
-
Commentaries
- Consultations
- Sanctioned regimes
- IFRSs
- Regulatory calendar
- Quicklinks
-
More
Page Overview
Document Overview
AI Summary of 232. Breaches of certain duties: liability to account and indemnify
AI Disclaimer
Please note that AI-generated content should not be considered legal advice. Users are encouraged to consult with qualified professionals or legal advisors where specific legal guidance is required.
We are committed to transparency and responsible use of AI in a way that supports, but never replaces, human expertise.
If you have any questions or concerns about the use of AI on our platform, please feel free to contact us.
232. Breaches of certain duties: liability to account and indemnify
(1) Subject to section 233, where a director of a company acts in breach of his or her duty under section 228(1)(a), (c), (d), (e), (f), (g) or (i) he or she shall be liable to do either or both (as the corresponding common law rule or equitable principle with respect to the matter would have required) of the following things, namely -
(a) account to the company for any gain which he or she makes directly or indirectly from the breach of duty;
(b) indemnify the company for any loss or damage resulting from that breach.
(2) Subject to subsection (6), where a company enters into a transaction or arrangement contrary to section 238 or 239 with -
(a) a director of the company,
(b) a director of its holding company, or