Prepare an officers' indemnity and insurance deed within the statutory limits
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the instructions and sections 199A and 199B, prepare a first-pass deed of indemnity, access and insurance that carves out an exemption of a liability owed to the company, the indemnities section 199A does not allow, and a premium for insurance against a wilful breach of duty or a contravention of section 182 or 183.
- What the lawyer must review
- The lawyer checks every operative clause against sections 199A and 199B, rewrites anything that crosses the limits, and approves the deed before it is executed.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Do not begin AI assistance until the responsible lawyer has defined and confirmed its permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm the deed does not exempt an officer from a liability to the company.
- Confirm it does not indemnify a liability to the company, a stated penalty or compensation order, or a liability to a third party that did not arise from conduct in good faith.
- Separate the legal-costs indemnity and apply the limits in section 199A(3), including where the officer is found guilty or is refused relief.
- Confirm the company does not pay a premium to insure a wilful breach of duty or a contravention of section 182 or 183, other than for legal costs.
Sources
- Corporations Act 2001 (Cth) s 199A · 2026-10-22
- Corporations Act 2001 (Cth) s 199B · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.