57
CurrentAdministrator’s liability
Part 4Other functions and powers of registrar
Division 2Specific powers
Subdivision 5Administrators
57 Administrator’s liability
(1)
If a society incurs a loss because of fraud, dishonesty, negligence or wilful failure to comply with this Act or the society’s rules by an administrator, the administrator is liable for the loss.
(2)
An administrator is not liable for other loss but must account for the loss in a report given under section 55.
This Act’s bill:Explanatory memorandum
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