Skip to content

Section 25

Loan to director, etc.

of Trust Companies Act 1949

ActIn forceProvision 25 of 38
Section 25

If any loan is made by a trust company to any director or other officer or servant thereof in contravention of section 19, all directors and officers of the company who made the loan or assented thereto shall be jointly and severally liable to the company for the amount thereof with interest.