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Companies Act 2006

Companies Act 2006

2006 CHAPTER 46

Commentary

Schedule 10: Recognised supervisory bodies

Part 3: Arrangements in which recognised supervisory bodies are required to participate

Section 1218: Exemption from liability for damages

1556.This section is a restatement of section 48 of the 1989 Act. It sets out those bodies and individuals that are exempt from liability for damages arising from the discharge or claimed discharge of supervisory functions as specified in this Part of the Act (these include the effects of rules, practices, powers and arrangements of the body). It applies to recognised supervisory bodies (see sections 1217 and Schedule 10) and their officers, employees and members of their governing bodies. The exemption does not apply if they have acted in bad faith, or if it would prevent an award of damages because the act was unlawful under the Human Rights Act.

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