Part 1Preliminary provisions
17Liabilities of director or shareholder of incorporated firm
For the avoidance of doubt, and subject to sections 18 and 19, a practitioner who is a director or shareholder of an incorporated firm is not liable, on a joint or several basis, by reason only of being such a director or shareholder,—
- for any act or omission of any other director or shareholder of the firm; or
- for the debts or liabilities of the firm.
Subject to subsection (1), a practitioner who is a director or shareholder of an incorporated firm is subject to all the professional obligations to which he or she would be subject if he or she were in practice on his or her own account.