169
CurrentJoint and several liability of directors of corporate trustee liable to administrative penalty under section 166
Volume 2Parts 16 to 32 (sections 128 to 383), Endnotes
Part 20Administrative directions and penalties for contraventions relating to self managed superannuation funds
Division 3Administrative penalties
169 Joint and several liability of directors of corporate trustee liable to administrative penalty under section 166
(1)
This section applies if a trustee of a self managed superannuation fund:
(a)
is liable to an administrative penalty imposed by section 166; and
(b)
is a body corporate.
(2)
The directors of the body corporate at the time it becomes liable to the penalty are jointly and severally liable to pay the amount of the penalty.
This Act’s bill:Second reading speech
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