Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 4 - Generic assessment, collection and recovery rules  

PART 4-15 - COLLECTION AND RECOVERY OF TAX-RELATED LIABILITIES AND OTHER AMOUNTS  

Division 269 - Penalties for directors of non-complying companies  

Subdivision 269-B - Obligations and penalties  

SECTION 269-15   DIRECTORS ' OBLIGATIONS  

Directors ' obligations

269-15(1)  
The directors (within the meaning of the Corporations Act 2001 ) of the company (from time to time) on or after the initial day must cause the company to comply with its obligation.

269-15(2)  
The directors of the company (from time to time) continue to be under their obligation until:


(a) the company complies with its obligation; or


(b) an administrator of the company is appointed under section 436A , 436B or 436C of the Corporations Act 2001 ; or


(ba) a small business restructuring practitioner for the company is appointed under section 453B of that Act; or


(c) the company begins to be wound up (within the meaning of that Act).

269-15(2A)  


To avoid doubt, if the obligation of the company is an obligation to pay the amount of an estimate of an underlying liability under Division 268 , a director is subject to his or her obligation under subsection (1):


(a) even if the underlying liability never existed or has been discharged in full; and


(b) even if the unpaid amount of the underlying liability is less than the unpaid amount of the estimate; and


(c) at all times on and after the day referred to in paragraph 269-10(5)(b) until the director ' s obligation ceases under subsection (2) of this section, including at any such times before the Commissioner has made the estimate or given notice of the estimate.

Instalment arrangements

269-15(3)  
The Commissioner must not commence, or take a procedural step as a party to, proceedings to enforce an obligation, or to recover a penalty, of a director under this Division if an *arrangement that covers the company ' s obligation is in force under section 255-15 (Commissioner ' s power to permit payments by instalments).

Note 1:

The arrangement may also cover other obligations of the company.

Note 2:

Subsection (3) does not prevent the Commissioner from giving a director a notice about a penalty under section 269-25 .




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.