Section 171 of The Companies Act No. 17 of 2015: Exception for expenditure in connection with regulatory action or investigation
An approval is not required under section 164, 165, 166 or 167 for anything done by a company—
(a) to provide a director of the company or of its holding company with funds to meet expenditure incurred or to be incurred by the director in defending himself—
(i) in an investigation by a regulatory authority; and
(ii) against action proposed to be taken by a regulatory authority, in connection with any alleged negligence, default, breach of duty or breach of trust by the director in relation to the company or an associated company; and
(b) to enable any such director to avoid incurring such expenditure.
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