(1) If a person (
"the offender" ) is convicted of an offence under section 68 (1) in respect of
the incurring of a debt, the Supreme Court, on the application of--
(b) the person to whom the debt is payable (
"the creditor" ),
may declare that the offender is personally responsible,
without any limitation of liability, for payment to the creditor of the amount
of the debt or such part of it as the Court thinks fit.
(2) If a person (
"the offender" ) is convicted of an offence under section 69, the Supreme
Court, on the application of--
(c) a member or creditor of the association authorised by the
Secretary to make such an application,
may declare that the offender is
personally responsible, without any limitation of liability, for payment to
the association of the amount required to satisfy so much of the debts of the
association as the Court thinks fit.
(3) If the Supreme Court makes a
declaration under subsection (1), it may make such further orders as it thinks
fit for the purpose of giving effect to that declaration.
(4) In particular,
the Supreme Court may order that the offender's liability is a charge on--
(a)
a debt or obligation due from the association to the creditor, or
(b) a right
or interest under a charge on any property of the association held by or
vested in the offender or a person on behalf of the offender, or a person
claiming as assignee from or through the offender or a person acting on behalf
of the offender.
(5) The Supreme Court may, from time to time, make such
further order as it thinks fit for the purpose of enforcing a charge imposed
under subsection (4).
(6) For the purpose of subsection (4) (b),
"assignee" includes a person to whom or in whose favour, by the direction of
the offender--
(a) the debt, obligation or charge was created, issued or
transferred, or
(b) the interest was created,
but does not include an
assignee for valuable consideration given in good faith and without actual
knowledge of any of the matters on which the conviction or declaration was
made.
