126BDirectors liability for amounts

126B Directors liability for amounts (1) Subsection (2) applies if— (a) a corporation is convicted of an offence against this Act or an operational Act; and (b) a penalty for the offence is imposed on the corporation; and (c) the amount of the penalty is not paid within the time required for payment. (2) Liability to pay the amount of the penalty mentioned in subsection (1) attaches to— offence was committed; and (b) each individual who is a director of the corporation when the penalty is imposed. (3) Subsection (4) applies if— (a) the ACAT requires a corporation to pay an amount under section 58 (3); and (b) the amount is not paid within the time required for payment. (4) Liability to pay the amount mentioned in subsection (3) attaches to— act or omission that was a ground for occupational discipline happened; and (b) each individual who is a director of the corporation when the ACAT made the order for payment under section 58 (3).

(5) Subsection (6) applies if— (a) a corporation has a debt owing to the Territory under this Act or an operational Act; and (b) the debt is not paid when it is due. (6) Liability to pay the amount mentioned in subsection (5) attaches to— debt was incurred; and (b) each individual who is a director of the corporation when payment for the debt is due. (7) A liability under subsection (2), (4) or (6) to pay an amount applies regardless of the status of the corporation, including, for example, that the corporation is being, or has been, wound up. (8) If a liability under subsection (2), (4) or (6) to pay an amount attaches to 2 or more people, each person is jointly and severally liable for payment of the amount.