Common use of Liability Protection and Insurance Clause in Contracts

Liability Protection and Insurance. a. Subsection 134(1) and section 136 of the Business Corporations Act apply with necessary modifications to the Agency, its Board and its officers, but the Agency shall not give an indemnity under section 136 of the Business Corporations Act to any person unless the indemnity has been approved in accordance with section 28 of the Financial Administration Act.