Cap. 386 Art. 147Joint and several liability of directorsforbreach of duty.

(1) The personal liability of the directors in damages for any breach of duty shall be joint and several:

Provided that where a particular duty has been entrusted to one or more of the directors, only such director or directors shall be liable in damages.

(2) A director shall not be liable for the acts of his co-directors if he proves either -

(a) that he did not know of the breach of duty before or at the time of its occurrence and that on becoming aware of it after its occurrence he signified forthwith to the co-directors his dissent in writing; or

(b) that, knowing that the co-directors intended to commit a breach of duty, he took all reasonable steps to prevent it.