Companies Act 2014
F766[Liability of prescribed body for acts, omissions etc.
942A. (1) Neither a prescribed body nor any person who is or was—
(a) a member or director, or
(b) other officer or employee,
of the prescribed body shall be liable for damages for anything done, anything purported to be done or anything omitted to be done by the prescribed body or that person in performing the functions specified in subsection (2) unless the act or omission is shown to have been in bad faith.
(2) Subsection (1) applies to the issuing of accounting standards.
(3) In this section, "prescribed body" means a body prescribed under section 943(1)(h).]
Annotations
Amendments:
F766
Inserted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 97, S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.
Editorial Notes:
E202
The section heading is taken from the amending section in the absence of one included in the amendment.