33AA   Liability of directors and other officers in respect of particular obligations

(1)  This section applies to the following obligations of the board of a State owned corporation:

(a)  the obligation to ensure that a public sector policy notified to the board under section 20O is carried out,

(b)  the obligation to ensure that a direction given to the board under section 20P is carried out,

(c)  the obligation to supply information requested of the board under section 29.

(2)  A director of the board of a State owned corporation does not, despite any other law, incur any personal liability for the compliance, or purported compliance, in good faith by the board with an obligation to which this section applies.

(3)  An officer of a State owned corporation does not, despite any other law, incur any personal liability for his or her compliance, or purported compliance, in good faith with a direction or decision given or made by or on behalf of the board of the corporation for the purpose of complying with an obligation to which this section applies.

(4)  This section does not affect any other protection that a director or other officer would have for compliance, or purported compliance, with such an obligation.

(5)  In this section:

carry out a direction includes comply with the direction.

officer of a State owned corporation means:

(a)  a director of the corporation, or

(b)  the corporation’s chief executive officer (however described), or

(c)  another person who is concerned, or takes part, in the corporation’s management.