Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 99

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 99
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 breach of trust in relation to the company of which he
is a director is void, except as permitted by–

(a) section 233 (provision of insurance),

(b) section 234 (qualifying third party indemnity
provision), or

(c) section 235 (qualifying pension scheme indemnity
provision).

<div align='center'>II-2</div>

(3) This section applies to any provision, whether
contained in a company’s articles or in any contract with the company or otherwise.

(4) Nothing in this section prevents a company’s
articles from making such provision as has previously been lawful for dealing with conflicts of interest.

Section 234 of the Companies Act 2006 provides:

(1) Section 232(2) (voidness of provisions for
indemnifying directors) does not apply to qualifying third party indemnity provision.

(2) Third party indemnity provision means provision
for indemnity against liability incurred by the director to a person other than the company or an associated company.

Such provision is qualifying third party indemnity
provision if the following requirements are met.

(3) The provision must not provide any indemnity
against:

(a) any liability of the director to pay:

(i) a fine imposed in criminal proceedings, or

(ii) 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

(b) any liability incurred by the director:

(i) in defending criminal proceedings in which
he is convicted, or

(ii) in defending civil proceedings brought by
the company, or an associated company, in which judgment is given against him, or

(iii) in connection with an application for relief
(see subsection (6)) in which the court refuses to grant him relief.

(4) The references in subsection (3)(b) to a conviction,
judgment or refusal of relief are to the final decision in the proceedings.

(5) For this purpose:

(a) a conviction, judgment or refusal of relief
becomes final:

(i) if not appealed against, at the end of the
period for bringing an appeal, or

(ii) if appealed against, at the time when the
appeal (or any further appeal) is disposed of; and

(b) an appeal is disposed of:

(i) if it is determined and the period for bringing
any further appeal has ended, or

(ii) if it is abandoned