Page 104 - Binder2

Condition

1. Notwithstanding any limitation on the powers of the
Named Insured

(a) where the action or failure to act which is the
subject of indemnity under this Section exceeded
the powers of the Named Insured then the
indemnity provided by this Section shall apply
where the Employee in question

(i) believed that the action or failure to act in
question was within the powers of the
Named Insured

(ii) or (where that action or failure comprises
the issuing or authorisation of any document
containing any statement as to the powers
of the Named Insured or any statement that
certain steps have been taken or
requirements fulfilled) believed that the
contents of that statement were true

and it was reasonable for that Employee to hold
that belief at the time when he acted or failed to
act

(b) insofar as any action or failure to act may
subsequently be found to be beyond the powers
of the Employee in question the indemnity
provided by this Section shall apply where the
Employee reasonably believed that the act or
omission in question was within his powers at the
time at which he acted

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Casualty Policy Wording TRV0126 02/14 Policy Code 2010 05/12