Section 8
New section 30
of Financial Reporting (Amendment) Act 2012
The principal Act is amended by inserting after section 29
the following section:
“Protection against suits and legal proceedings
Quoted provision
Section 30
No action, suit, prosecution or other proceedings shall lie or be brought, instituted or maintained in any court or before any other authority against—
(a)
any member of the Foundation or the Board;
Financial Reporting (Amendment)
(b)
any officer or employee of the Foundation; and
(c)
any person appointed pursuant to this Act, for or on account of, or in respect of, any act done or statement made or omitted to be done or made, or purporting to be done or made, in pursuance or in execution of, or intended pursuance or execution of, this Act, any approved accounting standard, issues bulletin, interpretation, guidance or other release or thing issued under this Act if such act or statement was done or made, or was omitted to be done or made, in good faith.
(2)
In this section, the expression “officer” includes any chief executive officer or other officer appointed by the
Foundation under this Act.”.