Section 29: Indemnity of officers and other employees of the Corporation.

The Managing Director and every Executive Director, agent, auditor, secretary and other officer or employee for time being of the Corporation shall be indemnified out of the assets of the Corporation against a liability incurred by him in defending any proceeding, whether civil or criminal, in which judgment is given in his favour, or in which he is acquitted, if the proceeding is brought against him in his capacity as Managing Director, Executive Director, agent, auditor, secretary or other officer or employee of the Corporation.