(1) The local authority shall be liable for acts carried out by its
representative on the board of directors of a company in which it holds shares,
without prejudice to a personal liability claim against the said representative.
(2) The personal liability claim referred to in sub-section (1) above shall be
applicable only in cases of personal error or gross misconduct that undermines the
interests of the local authority concerned.
Official text
Spot-checked
In force from 24 December 2019
Source page 12
Section 55 of the Law No 2019/024 of 24 december 2019 bill to institute the general code of regional and local authorities/akn/cm/act/loi/2019-12-24/2019-024