(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
Transcription: Spot-checked
In force from 24-12-2019
Source page 12
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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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
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