PART XI INJURY FUND AND ASSESSMENTS — Director's liability
141
(1) Where a corporation defaults in the payment of an assessment, or an amount levied under section 135, or a part of it, the directors, at the time the corporation defaults, are jointly and individually liable, together with the corporation to pay the amount.
141(2)
A director is liable under subsection (1) where,
141(a)
a certificate for the amount of the corporation's liability referred to in that subsection has been filed under section 140 and execution for that amount has been returned unsatisfied in whole or in part;
141(b)
the corporation has begun liquidation or dissolution proceedings or has been dissolved and the amount of the corporation's liability referred to in subsection (1) has not been paid within 6 months after a notice of intent to dissolve is filed under section 337 of the Corporations Act after the commencement of liquidation or dissolution proceedings; or
141(c)
the corporation has made an assignment or a receiving order has been made against it under the Bankruptcy and Insolvency Act (Canada) and a claim for the amount of the corporation's liability referred to in subsection (1) has not been paid within 6 months after the date of the assignment or receiving order .
141(3)
A director is not liable for an amount payable under subsection (1) unless the claim against the director is made not later than 4 years after the director ceased to be a director of the corporation.
141(4)
The liability of a director under subsection (1) is for the total amount owing by the corporation and is not reduced by a proposal respecting or restructuring of or discharge of the liability of the corporation under the Bankruptcy and Insolvency Act (Canada) or other legislation.
141(5)
Where a director pays an amount in respect of a corporation's liability referred to in subsection (1) in liquidation, dissolution or bankruptcy proceedings, the director is entitled to the same priority as the commission would have been entitled to had the amount not been paid, subject to the commission's liability being satisfied, and, where a certificate that relates to the amount has been registered, the director is entitled to an assignment of the certificate to the extent of the director's payment, and the commission is empowered to make that assignment.
141(6)
A director who satisfies a claim under this section is entitled to contribution from the other directors who were liable for the claim.
141(7)
Subsection 140(1) applies, with the necessary changes, where a director fails to pay an amount for which the director is liable under this section.
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