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Part 16 U.K. Audit

Modifications etc. (not altering text)

C1 Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2

Chapter 6 U.K. Auditors' liability

Indemnity for costs of defending proceedings U.K.

533 Indemnity for costs of successfully defending proceedings U.K.

Section 532 (general voidness of provisions protecting auditors from liability) does not prevent a company from indemnifying an auditor against any liability incurred by him—

(a) in defending proceedings (whether civil or criminal) in which judgment is given in his favour or he is acquitted, or

(b) in connection with an application under section 1157 (power of court to grant relief in case of honest and reasonable conduct) in which relief is granted to him by the court.

Modifications etc. (not altering text)

C2 Ss. 484-539 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 11 (with transitional provisions and savings in regs. 7, 9, Sch. 2)

Commencement Information

I1 S. 533 wholly in force at 6.4.2008; s. 533 not in force at Royal Assent see s. 1300; s. 533 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(e) (with savings in arts. 7, 12 and subject to transitional adaptations in Sch. 1 para. 11 and with savings in Sch. 4 paras. 9-19)