Section 107: No Responsibility for Acts Done in Good Faith

1) The Governor, Deputy Governor, Director or staff of the Bank or Special Administration Team shall not be personally or collectively liable for any act done in good faith under this Act and under the Regulations or bylaws or under an order or directive issued thereunder.

Provided that for any act done knowingly or with mala fide intention, they shall be personally liable.

2) In case a lawsuit of any type has been filed against the Governor, the Deputy Governor, Director or any official of the Bank with regard to any loss sustained or to be sustained because of any act done or attempted to do in good faith pursuant to this Act or under the Regulations or Bylaws framed thereunder or an order or directive issued thereunder, the Bank shall bear expenses incurred therefor.

Provided that the Bank shall not bear the expenses incurred for the lawsuit filed against any act done knowingly or with mala fide intention.