Northern Territory Numbered Acts

STATUTE LAW AMENDMENT (DIRECTORS' LIABILITY) ACT 2015 (NO 26 OF 2015) - SECT 121

(1)     Section 126(1)

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    (1)     An executive officer of a body corporate commits an offence if:

    (a)     the body corporate commits an offence by contravening a declared EO liability provision (a relevant offence ) and the officer was reckless about whether the contravention would happen; and

    (b)     the officer was in a position to influence the conduct of the body corporate in relation to the contravention; and

    (c)     the officer recklessly failed to take reasonable steps to prevent the contravention.

Maximum penalty:     The maximum penalty that may be imposed on an individual for the relevant offence.

    (1A)     Strict liability applies to subsection (1)(b).

(2)     Section 126(2)(a)(i) and (iii)

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declared provision

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declared EO liability provision

(3)     Section 126(5)

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convicted

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found guilty

(4)     Section 126(7)

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declared EO liability provision means:

    (a)     section 67(5) or (7), 68(3), 83(1), 84, 85(1), 87(1), 108, 110 or 138(2), (3) or (7); or

    (b)     a provision of the Regulations prescribed by regulation.