Irish Takeover Panel Act, 1997

Liability of Panel for acts, omissions, etc.

20.—(1) Neither the Panel nor any member, director, other officer or employee of the Panel shall be liable in damages in respect of anything done or omitted to be done by it or him or her in the performance of its or his or her functions under this Act unless the act or omission concerned was done or made in bad faith.

(2) (a) Without prejudice to the generality of subsection (1), neither the Panel nor any other person mentioned in that subsection shall be liable in damages in respect of any ruling, direction, report, statement or notice made, given, prepared, published or served by it unless the ruling, direction or other matter aforesaid was made, given, prepared, published or served in bad faith.

(b) In this subsection “statement” includes any advice, admonition or censure given or administered by the Panel under section 10 (2).

(3) The appointment by any person referred to in paragraph (b) or (c) of section 6 (1) (“the appointer”) of a person as a director of the Panel shall not render the appointer liable in damages in respect of anything done or omitted to be done by that director in the performance of his or her functions under this Act nor shall the fact of such appointment be held to create any duty owed by the appointer to any person to supervise or superintend the performance by that director of those functions.

(4) Without prejudice to subsection (5), the Panel may, subject to the provisions of any enactment or rule of law, indemnify any member, director, officer or employee of the Panel in respect of anything done or omitted to be done by him or her in the carrying out of his or her duties as such member, director, officer or employee.

(5) The Panel may indemnify any member, director, officer or employee of the Panel in respect of any liability on his or her part to pay damages or costs by reason of anything done or omitted to be done by him or her in the carrying out of his or her duties as such member, director, officer or employee, being a liability that—

(a) has been determined in proceedings before a court or tribunal of another state or arises by virtue of an agreement entered into in settlement of proceedings before such a court or tribunal, and

(b) would not have been determined if the provisions of this section had been applied in those proceedings by the court or tribunal or, as the case may be, would not have been the subject of an agreement as aforesaid but for the reliance, in good faith, by the member or other person aforesaid on any legal opinion or advice to the effect that the provisions of this section would not be applied by the court or tribunal in those proceedings.

(6) Part II of the Second Schedule to the Defamation Act, 1961 , (which specifies statements that carry qualified privilege subject to explanation or contradiction) is hereby amended by the addition of the following paragraph after paragraph 5:

“6. (1) A copy or fair and accurate report or summary of any ruling, direction, report, investigation, statement or notice made, given, prepared, published or served by the Irish Takeover Panel.

(2) In this paragraph ‘statement’ includes any advice, admonition or censure given or administered by the Irish Takeover Panel under section 10 (2) of the Irish Takeover Panel Act, 1997.

(3) Nothing in this paragraph or any other provision of this Act shall prejudice the provisions of section 20 of the Irish Takeover Panel Act, 1997.”.