Section 197 of The Companies Act No. 17 of 2015: Directors to disclose qualifying indemnity provision in directors’ report
(1) In this section, "qualifying indemnity provision" means—
(a) a qualifying third party indemnity provision; and
(b) a qualifying pension scheme indemnity provision.
(2) If, when a directors' report is approved, a qualifying indemnity provision(whether made by the company or otherwise) has effect for the benefit of one or more directors of the company, the directors shall state in the report that the provision has effect.
(3) If, at any time during the financial year to which a directors' report relates, a qualifying indemnity provision had effect for the benefit of one or more persons who were then directors of the company, the directors shall state in the report that the provision had effect at that time.
(4) If, when a directors' report is approved, a qualifying indemnity provision made by the company has effect for the benefit of one or more directors of an associated company, the directors shall state in the report that the provision has effect.
(5) If, at any time during the financial year to which a directors' report relates, a qualifying indemnity provision had effect for the benefit of one or more persons who were then directors of an associated company, the directors shall state in the report that the provision had effect at that time.
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- Section 198 - Copy of qualifying indemnity provision to be available for inspection
(1) This section has effect if a qualifying indemnity provision is made for a director of a company and—
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- Section 199 - Right of member to inspect and request copy of qualifying indemnity provision
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- Section 200 - Interpretation
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- Section 203 - Permitted use or disclosure by the Registrar
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- Section 204 - Disclosure under Court order
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- Section 214 - Effect of order disqualifying person from being a director or secretary
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(1) A court shall make a disqualification order against a person if satisfied, on an application made to it under section 219—
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