I'm a bit troubled by another point.
In the same division, the point is raised that directors may be exonerated from any liability provided under the act stemming from decisions made respecting compensation during the previous year, for example, or immediately preceding insolvency.
The new subsection (3.1) of section 101 would exonerate directors from any liability where they have protested against a payment.
Are we to understand that, if, for example, the decision is made following a board meeting at which one of the officers protested against payments, the directors might be exonerated from all liability in respect of those payments?
I can understand the purpose in a way, but I find it hard to understand the mechanism that will be used to achieve it.