Screen an officer indemnity against the statutory prohibitions
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the draft indemnity or exemption, list each liability and each legal-cost indemnity it covers, and place each one next to the prohibitions in section 199A(1), (2) and (3). Do not say that the clause is permitted.
- What the lawyer must review
- The lawyer decides whether the clause exempts a liability to the company, indemnifies a liability in subsection (2), or indemnifies legal costs in a case subsection (3) prohibits, and settles or refuses the clause.
- 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 | From the draft indemnity or exemption, list each liability and each legal-cost indemnity it covers, and place each one next to the prohibitions in section 199A(1), (2) and (3). Do not say that the clause is permitted. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- An exemption from a liability to the company, incurred as an officer or auditor, is not given.
- An indemnity for legal costs is checked against subsection (3), separately from the liabilities in subsection (2).
- Section 212, and the CCIV modifications named in the notes, were not opened. The lawyer reads them before relying on a loan or on a CCIV exception.
Sources
- Corporations Act 2001 (Cth) s 199A, indemnification and exemption of an officer or auditor · 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.