Document ID: chunk:federal_register_of_legislation:C2011C00698:clause:6_75
Version: federal_register_of_legislation:C2011C00698
Segment Type: clause
Provision Reference: sch 6 cl 75
Character Range: 181321–182077

75  At the end of Subdivision 284‑B in Schedule 1
Add:

284‑95  Joint and several liability of directors of corporate trustee that makes a false or misleading statement

 (1) This section applies if a trustee of a *self managed superannuation fund, or of a fund that is treated as a self managed superannuation fund under subsection 10(4) of the Superannuation Industry (Supervision) Act 1993:
 (a) is liable to an administrative penalty under subsection 284‑75(1) or (4); and
 (b) is a body corporate.

 (2) The directors of the body corporate at the time it becomes liable to the penalty are jointly and severally liable to pay the amount of the *tax‑related liability in respect of the penalty.

Note: See section 265‑45 for rules on joint liability.