120. Protection from action

No civil or criminal proceedings shall be instituted against the Governor of the Central Bank, members of the

Governing Board and Monetary Policy Board, any employee of the Central Bank, or a person who previously held such a position, for any act which in good faith is done or purported to be done by him under this Act pursuant to and in the course of the exercise, performance and discharge of the powers, duties and functions on behalf of the Central

Bank, if he proves that he acted in good faith and exercised all due diligence, reasonable care and skill.