A person who, immediately before 1 January 1997 was a director of the Hawthorn Company is entitled to be indemnified by The University of Melbourne in respect of any personal liability arising out of the bona fide execution of the duties, powers, authorities and discretions conferred or imposed on the person as a director to the same extent and in the same circumstances as if the person were a member of the Council or a Committee referred to in section 21 of the Melbourne University Act 1958 before that date.