Liability - company secretary, Business Law and Ethics

Liability:

            The secretary is an officer of the company and thus he owes fiduciary duties to the company which are similar to those of a director, eg. he must act in good faith and must not make a secret profit. Moreover, in the event of a liquidation, the secretary as an officer of the company will be liable under section 323 if he has been guilty of a misfeasance. The secretary will also be liable to specific criminal penalties if he details or omits a wrongful act in respect of his statutory duties. Thus, for example, he can be made to pay a default fine if he fails to sign the annual return and accompanying documents and as the officer most clearly in default will be liable in the event of failure to keep and make available registers such as the registers of directors and secretaries.

Posted Date: 1/12/2013 5:10:52 AM | Location : United States







Related Discussions:- Liability - company secretary, Assignment Help, Ask Question on Liability - company secretary, Get Answer, Expert's Help, Liability - company secretary Discussions

Write discussion on Liability - company secretary
Your posts are moderated
Related Questions
Question 1 Mention any ten recommendations made by the Honey report Question 2 Explain the following Staff and line Span of Control Question 3 Explain A

Ahtesh is the promoter to a company not yet incorporated. As promoter he bought two excavators on behalf of the company as the latter would be building and running a hotel. While t

QUESTION 1 (a) Describe the main stages of money laundering? (b) Is the current Mauritian Banking Act strong enough to protect depositors and maintain financial stability gi

Protection of General Public: It may happen that a resolution reducing a company's capital was passed in circumstances which indicate that the shareholders had not been proper


Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Bills: Further an Act of Parliament begins as a Bill that is the draft of law that Parliament intends to make.  In section 46(1) of the constitution states like "the legislati

I am an executive being transferred from my home city on the west coast to one in the Midwest. I know nothing about the city I'm moving to, but I have to buy a house there. Realtor

Auditors: APPOINTMENT:           S.159 (1) provides that "every company shall at each annual general meeting appoint an auditor or auditors to hold office from the above

Determine the expansionary monetary policy The possible spillover effects associated with expansionary monetary policy. In particular with fixed exchange rates expansionary mon