Section 125: Civil liability
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
125. Civil liability
Where a body corporate carries on business in contravention of section 7
or 70, every officer of the body corporate who has knowledge of the fact or
is concerned in the management of the body corporate shall be jointly and
severally liable for the payment and discharge of every debt and liability incurred by the body corporate in so carrying on business.
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Questions this section answers
- Can an officer be held personally liable for debts of an unlicensed insurance business?