Section 60 Giving of financial assistance by a company for the purchase of its shares

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noelc

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Does anyone know if all directors of a company OR just those directors that sign the Section 60 statutory declaration are liable should the financial assistance result in the company being unable to pay it's debts as they become due?
 
The implications of a Section 60 are very serious and I would urge that you seek professional legal/taxation advice in respect of this.
 
Thanks, I have already recieved advice but I would like the opinion of others...

I am not planning to sign a Section 60 declaration; however, other directors are; all I am asking is if anyone out there knows if ONLY those directors signing the declaration are liable to prosecution should things go belly up!
 
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