56D
In forceRight of indemnity of director or former director
Part 7Collection of tax
Division 7.2Recovery of tax from directors of corporations
56D Right of indemnity of director or former director
(1)
This section applies if a director or former director of a corporation is liable to pay an amount under this division and an amount is paid by the director or former director in discharge of the liability.
(2)
The director or former director is entitled to be indemnified by the corporation for payment of the amount.
This Act’s bill:Explanatory statementSecond reading speech
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