(1) Neither the Supervisory Authority nor any person who is or was a member, director or other officer or employee of the Supervisory Authority is liable for damages for anything done, anything purported to be done or anything omitted to be done by the Supervisory Authority or that person in performing their functions or exercising their powers under this Act, unless the act or omission is shown to have been in bad faith.
(2) The matters in respect of which subsection (1) applies include, but are not limited to, the following:
(a) any advice given, or admonition or censure administered, to a prescribed accountancy body under section 23 (5);
(b) any statement published under section 23 (7) concerning a prescribed accountancy body;
(c) any investigation under section 24 of a possible breach of the standards of a prescribed accountancy body by a member of that body or any sanction or penalty imposed on such a member;
(d) any certificate of refusal issued by the Supervisory Authority