Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 39

Indemnity

39. Indemnity

The powers of a State business corporation do not include a power to exempt,
whether directly or indirectly, a director of the corporation from, or to
indemnify (whether by paying a premium in respect of a contract of insurance
or otherwise) a director of the corporation against, any liability that by law
would otherwise attach to the director in respect of a wilful breach of duty
or breach of trust of which the director may be guilty in relation to the
corporation.