Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 222AQC

                   A person who pays an amount under section 222AQA has the same rights:

                     (a)  whether by way of indemnity, subrogation, contribution or otherwise; and

                     (b)  against the company or anyone else;

as if the payment had been made under a guarantee:

                     (c)  of the company's liability to pay the balance payable under the agreement; and

                     (d)  under which the person and every other person who was a director of the company as mentioned in subsection 222AQA(2) were jointly and severally liable as guarantors.