Section 234(3)

The provision must not provide any indemnity against— any liability of the director to pay— a fine imposed in criminal proceedings, or a sum payable to a regulatory authority by way of a penalty in respect of non-compliance with any requirement of a regulatory nature (however arising); or any liability incurred by the director— in defending criminal proceedings in which he is convicted, or in defending civil proceedings brought by the company, or an associated company, in which judgment is given against him, or in connection with an application for relief (see subsection (6)) in which the court refuses to grant him relief.

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