Western Australian Current Acts Western Australian Current Acts (1) A GTE must not
exempt a person (whether directly or through an interposed entity) from a
liability to the GTE incurred as a director, chief executive officer or
executive officer of the GTE.
(2) A subsidiary of a
GTE must not exempt a person (whether directly or through an interposed
entity) from a liability to the subsidiary incurred as a director, chief
executive officer or executive officer of the subsidiary.
(3) A GTE or a
subsidiary of the GTE must not indemnify a person (whether by agreement or by
making a payment and whether directly or through an interposed entity) against
a liability incurred as a director, chief executive officer or executive
officer of the GTE or subsidiary.
(4) Subsection (3)
does not prevent a person from being indemnified against a liability to a
person who is neither the GTE nor a subsidiary of the GTE, unless the
liability arises out of conduct involving a lack of good faith.
(5) Subsection (3)
does not prevent a person from being indemnified against a liability for costs
and expenses incurred by the person —
(a) in
defending proceedings, whether civil or criminal, in which judgment is given
in favour of the person or in which the person is acquitted; or
(b) in
obtaining relief under section 55 or 56.
(6) In determining the
outcome of proceedings referred to in subsection (5), the result of any appeal
in relation to the proceedings must be taken into account.