Clause 3

No matter or thing done and no contract of any kind entered into by the Corporation and no matter or thing done by any member of the Corporation or by any employee thereof or any other person whomsoever acting under the direction of the Corporation shall, if the matter or thing was done or the contract was entered into bona fide for the purpose of executing the provisions of this Act, subject any such member or employee or any other person whomsoever acting under the direction of the Corporation personally to any action, liability, claim or demand whatsoever in respect thereof.(2) Any expense incurred by the Corporation or any member, employee or acting under the direction of the Corporation shall be borne by and repaid out of the funds of the Corporation.”.