Australian Capital Territory Consolidated Acts

PUBLIC TRUSTEE ACT 1985 - SECT 53G

    (1)     The public trustee must not exempt a board member (whether directly or through another entity) from liability to the public trustee or the Territory.

    (2)     The public trustee must not indemnify a board member (whether directly or through another entity and whether by agreement or by making a payment) against any of the following liabilities incurred as a board member:

        (a)     a liability owed to the public trustee or the Territory;

        (b)     a liability owed to someone other than the public trustee or the Territory that did not arise from honest conduct.

    (3)     The public trustee must not indemnify a board member (whether directly or through another entity and whether by agreement or by making a payment) against legal costs incurred as a member if the costs are incurred—

        (a)     in defending or resisting a proceeding if the person is found to have a liability for which the person could not be indemnified under subsection (2); or

Note     A board member is not personally liable for certain acts done or omissions made honestly and without recklessness (see s 53F).

        (b)     in defending or resisting a criminal proceeding in which the person is found guilty.