Section 44: Indemnification of Corporation by Eligible Financial Institution.

If the Corporation so directs, an eligible financial institution from which the Corporation has acquired an eligible bank asset shall indemnify the Corporation and its officers against any liabitity or loss-(a) arising from any error, omission or mis-statement in any information or certificate provided to the Corporation by or on behalf of the eligible financial institution ; or
(b) in respect of any claim, award, payment or damages which the corporation becomes liable to pay to any person where the liability arises in connection with a cause of action occurring prior to the date of transfer or as the case may be any proportion of such liability is attributable to a period prior to the date of transfer.