law: Co-Operative Societies Act 2008 
  73.
  
  Indemnification of directors
  1.      Subject to
  
  subsections (2) and (3), a society may indemnifyŚ
  a.     
  
    a
  
  director or officer of the society;
  b.    
  
    a
  
  former director or officer of the society;
  c.     
  
    a
  
  person who acts or has acted at the request of the society as a director or
  
  officer of a body corporate of which the society is or was a member or a
  
  creditor, against cost, charges and expenses, including an amount paid to
  
  settle an action or satisfy a judgment, reasonably incurred by that person with
  
  respect to a civil, criminal or administrative action or proceeding to which
  
  that person is made a party by reason of his being or having been a director or
  
  officer of the society or body corporate.
  2.      A society may
  
  indemnify a director, officer, or other person only where that personŚ
  a.     
  
    acted
  
  honestly and in good faith with a view to the best interests of the society;
  b.    
  
    in
  
  the case of a criminal, civil or administrative action or proceeding that is
  
  enforced by a monetary penalty, had reasonable grounds for believing that the
  
  conduct was lawful.
  3.      No society shall
  
  indemnify a director, officer or other person mentioned in subsection (1) with
  
  respect to an action by or on behalf of the society to obtain a judgment in its
  
  favour to which that person is made a party by reason of his being or having
  
  been a director or an officer of the society, against costs, charges and
  
  expenses reasonably incurred by that person in connection with the action
  
  unlessŚ
  a.     
  
    the
  
  society has the approval of the court; and
  b.    
  
    that
  
  person fulfills the conditions described in subsection (2).
  1.      
  2.      
  3.      
  4.      Notwithstanding
  
  subsections (1) to (3), a society shall indemnify a director, officer or other
  
  person mentioned in subsection (1) who has been successful in the defence of a
  
  civil, criminal or administrative action or proceeding to which that person is
  
  made a party by reason of his being or having been a director or officer of the
  
  society or body corporate against costs, charges and expenses reasonably
  
  incurred by that person with respect to the action or proceedings.
  5.      A society or a
  
  director, officer or other person mentioned in subsection (1) may apply to the
  
  Court for an order approving the indemnity and the Court may make the order.
  6.      On an application
  
  pursuant to subsection (5) the court may order notice to be given to an
  
  interested person, and that interested person is entitled to appear and be
  
  heard in person or by an attorney-at-law or agent.