Statute
Section 239ADL — Companies Act 1993: Administrator's indemnity
Text of the provision Official document
239ADL Administrator's indemnity The administrator is indemnified out of the company's property for— (a) a personal liability incurred in the due performance of his or her duties, but not a personal liability incurred in bad faith or negligently; and (b) the remuneration to which the administrator is entitled under section 239O . Compare: Corporations Act 2001 (Australia) s 443D Section 239ADL: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).
Official source: legislation.govt.nz
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