200
CurrentCertain indemnities, exemptions, payments and agreements not authorised and certain documents void (cf Corporations Act s 199C)
Chapter 3Management and operation of co-operatives
Part 3.1Management
Division 4Duties and liabilities of directors, officers and employees
200 Certain indemnities, exemptions, payments and agreements not authorised and certain documents void (cf Corporations Act s 199C)
(1)
Sections 198 and 199 do not authorise anything that would otherwise be unlawful.
(2)
Anything that purports to indemnify or insure a person against a liability, or exempt them from a liability, is void to the extent that it contravenes section 198 or 199.
This Act’s bill:Explanatory statement
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