Sri Lanka Consolidated Acts

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Sri Lanka Export Credit Insurance Corporation Act (No. 15 of 1978) - Sect 28

Protection for action taken under this Act or on the direction of the Board

28.
(1) No suit or prosecution shall lie-
(a) against the Board for any act which in good faith is done or purported to be done by the Board under this Act; or
(b) against any Director, officer, servant or agent of the Corporation for any act which in good faith is done or purported to be done by him under this Act or on the direction of the Board.
(2) Any expenses incurred by the Corporation in any suit or prosecution brought by or against the Corporation before any court shall be paid out of the funds of the Corporation, and any costs paid to, or recovered by, the Corporation in any such suit or prosecution shall be credited to the funds of the Corporation.
(3) Any expenses incurred by any such person as is referred to in paragraph (b) of subsection (1) in any suit or prosecution brought against him before any court in respect of any act which is done or is purported to be done by him under this Act or on the direction of the Board shall, if the court holds that such act was one in good faith, be paid out of the funds of the Corporation unless such expenses are recovered by him in such suit or prosecution.


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