- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
6.—(1) This article applies in respect of “relevant acts or omissions”, which are the acts or omissions of one or more directors (in their capacity as such) of—
(a)the Dunfermline Bridge Bank, or
(b)any subsidiary of the Dunfermline Bridge Bank.
(2) No directors are liable for their relevant acts or omissions or those of other directors.
(3) No proceedings may (at any time) be brought against directors in respect of their relevant acts or omissions or those of other directors.
(4) Paragraphs (2) and (3) do not apply—
(a)in relation to proceedings brought by the FSA;
(b)to relevant acts or omissions shown to have been fraudulent, dishonest or in bad faith.
(5) In this article—
(a)“director” includes an alternate director;
(b)“proceedings” includes proceedings under Part 11 of the 2006 Act (derivative claims and proceedings by members);
(c)references to the bringing of proceedings are, in the application of this article to Scotland, references to the raising of proceedings.
(6) For the purposes of paragraphs (2) and (3) it does not matter that a person later ceases to be a director.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: