Section 194 of The Companies Act No. 17 of 2015: Provisions protecting directors from liability
(1) This section applies to the following provisions—
(a) a provision of a company's constitution;
(b) a provision of any contract, scheme or arrangement to which the company or a related company is a party;
(c) a provision of any other document of a class prescribed by the regulations for the purposes of this section.
(2) A provision that purports to exempt a director of a company, to any extent,from any liability that would otherwise attach to the director in connection with any negligence, default, breach of duty or breach of trust in relation to the company is void.
(3) A provision by which a company provides (directly or indirectly) an indemnity for a director of the company, or of an associated company, against a liability attaching to the director in connection with any negligence, default, breach of duty or breach of trust in relation to the company concerned is void, except as permitted under this Act.
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