New South Wales Consolidated Acts New South Wales Consolidated ActsThe following provisions with respect to the liability of directors of a
trustee company shall be and remain in force notwithstanding any alteration
which may be made in the articles of association of that trustee company.
In the event of a trustee company being wound up, every person who has been a
director of such trustee company at any time within the period of 2 years
preceding the commencement of the winding-up shall be liable for the balance
unpaid on every share which the person may have transferred during such 2
years, in addition to the person’s liability upon any such shares held by
the person at the commencement of the winding-up, in the event of the holder
of such shares being unable to pay the said balance per share in full.