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23 (1) In this section, “costs, charges and expenses” includes an amount actually and reasonably incurred by a person and paid to settle an action or satisfy a judgment, including an amount paid to settle an action or satisfy a judgment in a civil, criminal or administrative action or proceeding to which the person is made a party because of being or having been a director or officer, including an action brought by the Authority.

  • (2) The Authority may indemnify a person who is a director, officer, former director or former officer of the Authority, and the person’s heirs and personal representatives, against all costs, charges and expenses if
  • (a) the person acted honestly and in good faith with a view to the best interests of the Authority in respect of the conduct at issue in the action or proceeding, and
  • (b) in the case of a criminal or administrative action or proceeding, the person had reasonable grounds for believing that the person’s conduct was lawful.
  • (3) The Authority may purchase and maintain insurance for the benefit of a person referred to in this section against any liability incurred by the person as a director or officer.

2004-66-23, effective November 19, 2004 (B.C. Reg. 496/2004).