S.L. 628.1 Art. 28Liabilityofpersons involved in the association. Cap.16. 

(1) The liability of the founding members, members and administrators of the association shall be regulated by article 16 of the Second Schedule to the Civil Code.

(2) The liability of the founding members, administrators or members towards third parties for the obligations of the association shall be determined in accordance with the provisions of article 48(3)

and (4) of Sub-Title III of Title III of the Second Schedule to the Civil Code.

(3) For the avoidance of doubt, no person directly or indirectly involved in the association, including the key officer or other persons performing a key function within the association, may by agreement or otherwise, partially or fully waive or otherwise restrict his liability for wilful misconduct, gross negligence or breach of duty, and any provision in the statute or other agreement seeking to exonerate or restrict a founding member, a member, an administrator, a key officer or any other person performing a key function within the association from such liability shall be null and void.