Companies Act 2006 - Director Indemnities: Sections 232-235 govern company indemnities for directors, while Section 239 covers ratification of directors' conduct. Section 534 specifically deals with qualifying third party indemnity provisions.
Financial Services and Markets Act 2000: Particularly relevant for companies in the financial services sector, containing specific restrictions on certain types of indemnities and regulatory requirements.
Unfair Contract Terms Act 1977: Sets out limitations on exclusion clauses and establishes the reasonableness test for contractual terms in commercial agreements.
Common Law - Contract Principles: Fundamental principles including consideration, intention to create legal relations, and capacity to contract must be considered in indemnity agreements.
Common Law - Corporate Law Principles: Covers fiduciary duties and directors' duties that must be considered when drafting company indemnities.
Corporate Governance Code: Provides guidance on best practices for corporate governance, including matters related to director protection and company obligations.
Insurance Act 2015: Relevant when the indemnity relates to insurance matters, setting out duties of fair presentation and rules about warranties and other terms.
Limitation Act 1980: Establishes time limits for bringing claims, which must be considered when drafting indemnity duration and claim periods.
