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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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