47DRight of indemnity and contribution

#### 47D Right of indemnity and contribution 47D Right of indemnity and contribution > If a director or former director of a corporation is liable to pay a corporate tax liability under this Division and an amount is paid by the director or former director in discharge of that liability, the director or former director is entitled— > > > (a) to be indemnified for payment of that amount by the corporation, and > > > (b) to recover a contribution from any other director or former director of the corporation who is liable to pay the corporate tax liability under this Division, as if the directors and former directors who are liable to pay the corporate tax liability had jointly guaranteed payment of the corporate tax liability. > > **s 47D:** Ins 2003 No 80, Sch 6 \[3\]. Am 2014 No 19, Sch 3 \[8\].