{"id":81687,"date":"2023-11-28T16:57:14","date_gmt":"2023-11-28T11:27:14","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?post_type=act&#038;p=81687"},"modified":"2023-11-28T16:57:49","modified_gmt":"2023-11-28T11:27:49","slug":"section-378t","status":"publish","type":"act","link":"https:\/\/enterslice.com\/learning\/act\/companies-act-2013\/section-378t\/","title":{"rendered":"Section 378T. Liability Of Directors"},"content":{"rendered":"\n<p><strong><span id='easy-footnote-1-81687' class='easy-footnote-margin-adjust'><\/span><span class='easy-footnote'><a href='https:\/\/enterslice.com\/learning\/act\/companies-act-2013\/section-378t\/#easy-footnote-bottom-1-81687' title='Ins. by Act 29 of 2020, s. 52 (w.e.f. 11-2-2021).'><sup>1<\/sup><\/a><\/span>[378T. Liability of directors.&#8211;<\/strong>\u00a0(1) When the directors vote for a resolution, or approve by any other means, anything done in contravention of the provisions of this Act or any other law for the time being in force or articles, they shall be jointly and severally liable to make good any loss or damage suffered by the Producer Company.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(2) Without prejudice to the provisions contained in sub-section&nbsp;<em>(1)<\/em>, the Producer Company shall have the right to recover from its director&#8211;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(a) where such director has made any profit as a result of the contravention specified in sub-section&nbsp;<em>(1)<\/em>, an amount equal to the profit so made;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(b) where the Producer Company incurred a loss or damage as a result of the contravention specified in sub-section&nbsp;<em>(1)<\/em>, an amount equal to that loss or damage.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(3) The liability imposed under this section shall be in addition to and not in derogation of a liability imposed on a director under this Act or any other law for the time being in force.]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>[378T. Liability of directors.&#8211;\u00a0(1) When the directors vote for a resolution, or approve by any other means, anything done in contravention of the provisions of this Act or any other law for the time being in force or articles, they shall be jointly and severally liable to make good any loss or damage suffered by [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":79763,"parent":79755,"menu_order":0,"template":"","format":"standard","meta":[],"categories":[11445],"tags":[1007],"acf":{"service_id":"215"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Section 378T. Liability Of Directors - Enterslice<\/title>\n<meta name=\"description\" content=\"Explore Section 378T: Liability of Directors in-depth. Understand legal responsibilities and implications for directors&#039; actions. 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