Document ID: chunk:federal_register_of_legislation:C2011C00610:clause:1_4:p4
Version: federal_register_of_legislation:C2011C00610
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 4/4)
Character Range: 56514–58329

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
269‑55 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 Australian Securities and Investments Commission, to be, or to have been within the last 7 days, your place of residence or *business.

269‑55  Division not to limit or exclude Corporations Act

  To avoid doubt, this Division is not intended to limit or exclude the operation of Chapter 5 of the Corporations Act 2001 (External administration), to the extent that Chapter can operate concurrently with this Division.

Part 2—Consequential amendments

Administrative Decisions (Judicial Review) Act 1977