Corporate Governance · glossary
A promise to meet someone else's liabilities. A company may not exempt a director from liability to it for negligence or breach of duty. It may insure her, and give her a qualifying indemnity within the limits of sections 232 to 234. Charter §10.4 · Chapter 3 · Chapter 9 · see Qualifying indemnity
Explained in Chapter 3, The Seven Duties, of Corporate Governance.
The main page for this term is Indemnity, in M&A Foundations.
A company may insure a director against that liability. It may also give her a qualifying indemnity, which is a promise to meet certain claims brought by people other than the company, within limits the Act sets.Read Chapter 9, Minutes, Records and the Evaluation →
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