(1) If, in any civil
proceeding against a person to whom this section applies for negligence,
default, breach of trust or breach of duty in a capacity as such a person, it
appears to the Supreme Court —
(a) that
the person is or may be liable in respect of the negligence, default or breach
but that the person has acted honestly; and
(b)
that, having regard to all the circumstances of the case, including those
connected with the person’s appointment, the person ought fairly to be
excused for the negligence, default or breach,
the Supreme Court may
relieve the person either wholly or partly from liability on such terms as the
court thinks fit.
(2) Where a person to
whom this section applies has reason to apprehend that any claim will or might
be made against the person in respect of any negligence, default, breach of
trust or breach of duty in a capacity as such a person —
(a) the
person may apply to the Supreme Court for relief; and
(b) the
Supreme Court has the same power to relieve the person as it would have had
under subsection (1) if it had been a court before which proceedings against
the person for negligence, default, breach of trust or breach of duty had been
brought.
(3) Where a case to
which subsection (1) applies is being tried by a judge with a jury, the judge
after hearing the evidence may —
(a) if
he or she is satisfied that the defendant ought pursuant to that subsection to
be relieved either wholly or partly from the liability sought to be enforced
against the person, withdraw the case in whole or in part from the jury; and
(b)
forthwith direct judgment to be entered for the defendant on such terms as to
costs or otherwise as the judge thinks proper.
(4) This section
applies to a person who is —
(a) an
officer or employee of a co-operative; or
(b) an
auditor of a co-operative, whether or not the person is an officer or employee
of the co-operative; or
(c) an
expert in relation to a matter —
(i)
relating to a co-operative; and
(ii)
in relation to which the civil proceeding has been taken
or the claim will or might arise;
or
(d) a
receiver, receiver and manager, liquidator or other person appointed or
directed by the Supreme Court to carry out any duty under this Act in relation
to a co-operative.
[Section 482N inserted: No. 7 of 2016 s. 178.]