Liability of the special representative

Special representatives are liable, for actions taken within the framework of section 40c(1), insofar as they themselves take measures to avert a danger, for intent and negligence. Where the special representative was appointed under section 40c(1), point 5 or point 6, exclusively to monitor compliance with orders of the Federal Institute addressed to the capital management company, to monitor measures taken by the capital management company to avert a danger within the meaning of section 42, or to monitor compliance with measures of the Federal Institute under section 42, he or she is liable only for intent. In the case of negligent conduct, the special representative's liability to compensate is limited to EUR 1 million. Where it is a stock corporation whose shares are admitted to trading on a regulated market, the liability to compensate is limited to EUR 50 million.