Asset Covered Securities Act, 2001

PART 10

Miscellaneous

Certain persons to be not liable for commission of certain acts and omissions under this Act.

100.—(1) This section applies to the following persons—

(a) the Minister and any public officer acting under the direction of the Minister,

(b) the Authority, members and employees of the Authority, and persons acting under the direction of the Authority,

(c) the NTMA, the chief executive and employees of the NTMA, and persons acting under the direction of the NTMA,

(d) a cover-assets monitor appointed in respect of a designated credit institution under Part 5, officers and employees of the monitor, and persons acting under the direction of the monitor,

(e) a manager, other than the NTMA, appointed in respect of a designated or formerly designated credit institution under Part 6 or Schedule 1, officers and employees of the manager, and persons acting under the direction of the manager.

(2) A person to whom this section applies is not liable in any civil proceedings for any act done, or omitted to be done, by the person for the purposes of, or in connection with, performing or exercising any function or power imposed or conferred on the Minister, the Authority, the NTMA, a cover-assets monitor or manager by or under this Act if the act was done, or was omitted, in good faith for the purposes of this Act.