Section 1157(1)

If in proceedings for negligence, default, breach of duty or breach of trust against— it appears to the court hearing the case that the officer or person is or may be liable but that he acted honestly and reasonably, and that having regard to all the circumstances of the case (including those connected with his appointment) he ought fairly to be excused, the court may relieve him, either wholly or in part, from his liability on such terms as it thinks fit. an officer of a company, or a person employed by a company as auditor (whether he is or is not an officer of the company),

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Source: legislation.gov.uk · retrieved 2026-09-04