Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p3
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 3/17)
Character Range: 1258869–1261617

a director under this Division.

Subdivision 269‑C—Discharging liabilities

Table of sections
269‑40 Effect of director paying penalty or company discharging liability
269‑45 Directors' rights of indemnity and contribution

269‑40  Effect of director paying penalty or company discharging liability

Liabilities
 (1) This section applies to the following liabilities:
 (a) the liability of the company under its obligation referred to in section 269‑10;
 (b) the liability of each director (or former director) to pay a penalty under this Division in relation to the liability of the company referred to in paragraph (a);
 (c) a liability under a judgment, to the extent that it is based on a liability referred to in paragraph (a) or (b).

Discharging one liability discharges other liabilities
 (2) If an amount is paid or applied at a particular time towards discharging one of the liabilities, each of the other liabilities in existence at that time is discharged to the extent of the same amount.
 (3) If, because of section 268‑20 (Nature of liability to pay estimate), one of the liabilities is discharged at a particular time to the extent of a particular amount, each of the other liabilities in existence at that time is discharged to the extent of the same amount.
 (4) This section does not discharge a liability to a greater extent than the amount of the liability.

269‑45  Directors' rights of indemnity and contribution
 (1) This section applies if you pay a penalty under this Division in relation to a liability of the company under an obligation referred to in section 269‑10.
 (2) You have the same rights (whether by way of indemnity, subrogation, contribution or otherwise) against the company or anyone else as if:
 (a) you made the payment under a guarantee of the liability of the company; and
 (b) under the guarantee you and every other person who has paid, or from whom the Commissioner is entitled to recover, a penalty under this Division in relation to the company's obligation were jointly and severally liable as guarantors.

Subdivision 269‑D—Miscellaneous

Table of sections
269‑50 How notice may be given
269‑52 Copies of notices
269‑55 Division not to limit or exclude Corporations Act

269‑50  How notice may be given
  The Commissioner may give you a notice under section 269‑25 by leaving it at, or posting it to, an address that appears, from information held by the *Registrar, to be, or to have been within the last 7 days, your place of residence or *business.

269‑52  Copies of notices
 (1) If:
 (a) the Commissioner gives you a notice under section 269‑25 in accordance with section 269‑50; and
 (b) you have given the address of a *registered tax agent to the Commissioner as your address for service