Financial Administration Act
Marginal note:Power to indemnify
119 (1) The Treasury Board shall indemnify a present or former director or officer of a Crown corporation or a person who acts or acted at the request of a Minister or a Crown corporation as a director or officer of another corporation, and the director’s or officer’s heirs and legal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, that are reasonably incurred by the director or officer in respect of any civil, criminal or administrative action or proceeding to which the director or officer is a party by reason of being or having been such a director or officer, if the director or officer
(a) acted honestly and in good faith with a view to the best interests of the Crown corporation or other corporation; and
(b) in the case of any criminal or administrative action or proceeding that is enforced by a monetary penalty, believed on reasonable grounds that the director’s or officer’s conduct was lawful.
Marginal note:Requirement to indemnify
(2) Notwithstanding anything in this section, a director or officer referred to in subsection (1) is, and the heirs and legal representatives of the director or officer are, entitled to indemnity from the Treasury Board in respect of all costs, charges and expenses reasonably incurred by the director or officer in connection with the defence of any civil, criminal or administrative action or proceeding to which the director or officer was made a party by reason of being or having been such a director or officer, if the director or officer
(3) The Treasury Board may make regulations specifying terms and conditions governing indemnification under this section.
Marginal note:Payable out of C.R.F.
(4) Any amount payable in respect of indemnification under this section may be paid out of the Consolidated Revenue Fund.
- R.S., 1985, c. F-11, s. 119;
- 1991, c. 24, s. 34;
- 1999, c. 31, s. 115(F).
- Date modified: