Commonwealth Consolidated Acts

AUSTRALIAN CHARITIES AND NOT-FOR-PROFITS COMMISSION ACT 2012 - SECT 180.2

Obligations

  (1)   Subject to subsection   ( 2), an obligation that is imposed under this Act on a trust is imposed on each of the following entities, but may be discharged by any such entity :

  (a)   each entity (whether an individual or a company that is a body corporate) that was a trustee of the trust at the time the obligation arose;

  (b)   if the trustee, or one or more of the trustees , mentioned in paragraph   ( a) is a company that is a bod y corporate--each individual who was a director of such a company at the time the obligation arose .

Liabilities

  (2)   An amount that is payable under this Act by a trust is payable by each of the following entities :

  (a)   each entity (whether an individual or a company that is a body corporate) that was a trustee of the trust at the time the amount became payable;

  (b)   if the trustee, or one or more of the t rustees , mentioned in paragraph   ( a) is a company that is a body corporate--each individual who was a director of such a company at the time the amount became payable.

  ( 3 )   A n amount is payable by a director under paragraph   ( 2)(b) only if the amount is payable by the trust because of a deliberate act or omission of the director involving dishonesty, gross negligence or recklessness .

  ( 4 )   If an amount is payable under this section by more than one entity, those entities are jointly and severally liable to pay the amount.

  (5 )   For the purpose of ensuring the payment of an amount payable under this section by an entity mentioned in paragraph   ( 2)(a) or (b) , the Commissioner of Taxation has the same remedies against the property of the trust as the Commissioner of Taxation would have against the property of the entity.