Section 403: Power to grant relief
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
403. Power to grant relief
(1) Where in any proceedings before the Court for negligence, default or
breach of duty against a person to whom this section applies it appears to
the Court that he is or may be liable in respect thereof, but that he has acted
honestly and reasonably and that, having regard to all the circumstances of
the case including those connected with his appointment, he ought fairly to
be excused for the negligence, default or breach, the Court may relieve him
either wholly or partly from his liability on such terms as the Court thinks
appropriate.
(2) The section shall apply to—
(a) a director or officer of a company;
(b) a person employed by a company as auditor;
(c) a person who is a receiver or manager or liquidator or administrator appointed under this Act.