Document ID: chunk:federal_register_of_legislation:C2011C00610:clause:1_4:p3
Version: federal_register_of_legislation:C2011C00610
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 3/4)
Character Range: 54013–56744

within 21 days after the Commissioner gives you notice of the penalty under that section.

269‑35  Defences

Scope

 (1) This section applies in relation to:
 (a) proceedings to recover from you a penalty payable under this Division; or
 (b) proceedings against you in relation to a right referred to in paragraph 269‑45(2)(b) (directors jointly and severally liable as guarantors).

Illness

 (2) It is a defence in the proceedings if it is proved that, because of illness or for some other good reason, it would have been unreasonable to expect you to take part, and you did not take part, in the management of the company at any time when:
 (a) you were a director of the company; and
 (b) the directors were under the relevant obligations under section 269‑15.

All reasonable steps

 (3) It is a defence in the proceedings if it is proved that:
 (a) you took all reasonable steps to ensure that the directors complied with their relevant obligations under section 269‑15; or
 (b) there were no such steps that you could have taken.

 (4) In determining what are reasonable steps for the purposes of subsection (3), have regard to:
 (a) when, and for how long, you were a director and took part in the management of the company; and
 (b) all other relevant circumstances.

Power of courts to grant relief

 (5) Section 1318 of the Corporations Act 2001 does not apply to an obligation or liability of 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