Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) If an incorporated association incurs a loss because of fraud, dishonesty, negligence or wilful failure to comply with this Act or the Regulations or the constitution of the association by a statutory manager, the statutory manager is liable for the loss.
(2) A statutory manager is not liable for a loss that is not a loss to which subsection (1) applies but must account for the loss in the report under section 80(4).