Law library · Sierra Leone · The Companies Act, 2009
Section 521, The Companies Act, 2009
In forceThe Companies Act, 2009, Sierra Leone
(1) Where in any proceedings before any court fornegligence, default or breach of duty against a person to whom this
section applies it appears to the court that the person is or may be
liable in respect thereof, but that that person has acted honestly and
reasonably and that, having regards to all circumstances of the case
including those connected with the person’s appointment, the person
ought fairly to be excused for the negligence, default or breach, the
court may relieve that person either wholly or partly from liability on
such terms as the court thinks fit.
(2) Where a person to whom this section applies has
reason to apprehend that any claim will or might be made against him
in respect of any negligence, default, or breach of duty that person
may apply to the court for relief, and the court shall have the same
power to relieve the person under this section as it would have had if
it has been a court before which proceedings against that person for
negligence, default, or breach of duty had been brought.
(3) This section shall apply to–
(a) a director or other officers;
(b) a person employed by a company as auditor;
(c) an expert;
(d) a liquidator;
(e) a trustee for debenture holders;
(f) directors, managers, and other officers of a
company incorporated outside Sierra Leone.
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