When can responsible entity indemnify compliance committee members?
(1) A scheme’s responsible entity or a related body corporate must not: (a) indemnify a person who is or has been a member of the scheme’s compliance committee against a liability incurred by the person as a member; or (b) exempt the person from such a liability. (2) A provision of the scheme’s constitution or a body corporate’s constitution is void in so far as it provides for the responsible entity or a related body corporate to do something that subsection (1) prohibits. (3) Subsection (1) does not prevent a person from being indemnified against a liability to another person (other than the responsible entity or a related body corporate) unless the liability arises out of conduct involving a lack of good faith. (4) Subsection (1) does not prevent a person from being indemnified against a liability for costs and expenses incurred by them: (a) in defending proceedings, whether civil or criminal, in which judgment is given in favour of them or in which they are acquitted; or (b) in connection with an application, in relation to such proceedings, in which the Court grants relief to them under this Act. (5) In this section: indemnify includes indemnify indirectly through one or more interposed entities.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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