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-C - Discharging liabilities  

SECTION 269-45   DIRECTORS ' RIGHTS OF INDEMNITY AND CONTRIBUTION  

269-45(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 .

269-45(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.




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