Section 89: Civil and criminal actions
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
89. Civil and criminal actions
The conservator or receiver or the central bank may bring a civil action
against any director, chief executive officer, manager, officer, employee,
agent or independent contractor of a financial institution for gross negligence
or intentional wrong for damages caused to that financial institution and may
recommend to the Director of Public Prosecutions the criminal prosecution of
any such person.
(S. 89 came into operation on 1 June 2007.)
PART XII – WINDING UP OF FINANCIAL INSTITUTIONS GENERALLY
Ask juris about this section Official source
Questions this section answers
- Can a receiver sue a bank director personally for gross negligence that caused losses?