Directors’ and Officers’ Duties and Liabilities Under the CNCA and the ONCA

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I.INDEMNITIES

1.Mandatory Indemnification

•The NFP legislation provides that a present or former director or officer is entitled to indemnification against all costs, charges and expenses reasonably incurred by them in connection with the defence of any civil, criminal, administrative, investigative or other action/proceedings in which they have been involved because of their association with the corporation