Section 235(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.

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