Victorian Current Acts Victorian Current Acts(1) If an incorporated association incurs any loss because of any fraud, dishonesty, negligence or wilful failure to comply with this Act or the regulations or the rules of the association by a statutory manager, the statutory manager is liable for the loss.
(2) A statutory manager is not liable for any loss that is not a loss to which subsection (1) applies but must account for the loss in a report given under section 119(3) or 122.