Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An amount that is payable under this Act by a company that is a body corporate is payable by each of the following entities:
(a) the body corporate;
(b) each individual who was a director of the body corporate at the time the amount became payable;
if, at the time the amount became payable, the body corporate was a registered entity.
(2) An amount is payable by a director under paragraph (1)(b) only if the amount is payable by the body corporate because of a deliberate act or omission of the director involving dishonesty, gross negligence or recklessness .
(3) If an amount is payable under this section by more than one entity, those entities are jointly and severally liable to pay the amount.