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Section 59
Defense for actions done in good faith
: (1) The chairman, member, chief executive officer or any employee of the fund shall not be personally or collectively liable for any act done in good faith in accordance with this Act or the rules or regulations made under this Act. But he will be personally responsible for any act done intentionally or with wrong intention.
(2) If there is any kind of lawsuit against the chairman, member, chief executive officer or any employee of the fund in relation to the loss caused or caused by anything done or intended to be done in good faith for the purpose of complying with this Act or the rules or regulations made under this Act, the expenses of such case Fund will bear. However, the fund will not bear the expenses of the case in respect of any act done intentionally or with wrongful intention.
(2) If there is any kind of lawsuit against the chairman, member, chief executive officer or any employee of the fund in relation to the loss caused or caused by anything done or intended to be done in good faith for the purpose of complying with this Act or the rules or regulations made under this Act, the expenses of such case Fund will bear. However, the fund will not bear the expenses of the case in respect of any act done intentionally or with wrongful intention.