Section 232(2) (voidness of provisions for indemnifying directors) does not apply to qualifying pension scheme indemnity provision.
The provision must not provide any indemnity against—
any liability of the director to pay—
a fine imposed in criminal proceedings, or
a sum payable to a regulatory authority by way of a penalty in respect of non-compliance with any requirement of a regulatory nature (however arising); or
any liability incurred by the director in defending criminal proceedings in which he is convicted.
The reference in subsection (3)(b) to a conviction is to the final decision in the proceedings.
For this purpose—
a conviction becomes final—
if not appealed against, at the end of the period for bringing an appeal, or
if appealed against, at the time when the appeal (or any further appeal) is disposed of; and
an appeal is disposed of—
if it is determined and the period for bringing any further appeal has ended, or
if it is abandoned or otherwise ceases to have effect.
In this section "occupational pension scheme" means an occupational pension scheme as defined in section 150(5) of the Finance Act 2004 (c. 12) that is established under a trust.