Credit Union Act 1997

Power of court to grant relief to officer etc.

178

178. (1) Where, in any proceedings for negligence, default, breach of duty or breach of trust against an officer F315 [ ] of a credit union, it appears to the court hearing the case—

( a) that the officer F315 [ ] is or may be liable in respect of the negligence, default or breach in question but that he acted honestly and reasonably, and

( b) 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 may think fit.

(2) Where an officer F316 [ ] of a credit union who has reason to apprehend that any claim will or might be made against him in respect of any negligence, default, breach of duty or breach of trust, applies to the Court for relief, the Court shall have the same power to relieve him as it would have under this section if it were a court before which proceedings against him had been brought for the negligence, default or breach.

(3) Where any case to which subsection (1) applies is being tried by a judge with a jury, the judge, after hearing the evidence, may, if he is satisfied that the defendant ought under that subsection to be relieved either in whole or in part from the liability sought to be enforced against him, withdraw the case in whole or in part from the jury and direct judgment to be entered for the defendant on such terms as to costs or otherwise as the judge may think proper.

Annotations:

Amendments:

F315

Deleted (11.10.2013) by Credit Union and Co-operation with Overseas Regulators Act 2012 (40/2012), s. 35 and sch. 1 item 131, S.I. No. 393 of 2013.

F316

Deleted (11.10.2013) by Credit Union and Co-operation with Overseas Regulators Act 2012 (40/2012), s. 35 and sch. 1 item 132, S.I. No. 393 of 2013.