286. Obligations of directors and managers
In the case of a limited company, any person who is or has been a director or
manager, whose liability is unlimited under the provisions of this Act, shall, in addition to his
liability, if any, to contribute as an ordinary member, be liable to make a further contribution
as if he were at the commencement of winding up, a member of an unlimited company:
Provided that —
(a) a person who has been a director or manager shall not be liable to make such
further contribution, if he has ceased to hold office for a year or upwards before the
commencement of the winding up;
(b) a person who has been a director or manager shall not be liable to make such
further contribution in respect of any debt or liability of the company contracted after
he ceased to hold office;
(c) subject to the articles of the company, a director or manager shall not be liable
to make such further contribution unless the Tribunal deems it necessary to require
the contribution in order to satisfy the debts and liabilities of the company, and the
costs, charges and expenses of the winding up.