Undischarged bankrupts, Business Law and Ethics

Undischarged Bankrupts:

S.188 provides that if an undischarged bankrupt acts as director of any company without leave of the court he shall be liable to imprisonment for a term not exceeding two years or to a fine not exceeding Shs.10,000/=, or both.

  5. S.189 : Fraudulent Persons

S.189(1) empowers the court to make an order restraining a person from being appointed, or acting, as a company's director for a period not exceeding five years if-

i. The person is convicted of any offence in connection with the promotion, formation or management of a company: or

ii. In the course of a winding up, it appears that the person has been guilty of fraudulent trading (under s.323) or has otherwise been guilty, whereas an officer of the company, of any fraud or breach of duty to the company.

Posted Date: 1/12/2013 4:40:18 AM | Location : United States







Related Discussions:- Undischarged bankrupts, Assignment Help, Ask Question on Undischarged bankrupts, Get Answer, Expert's Help, Undischarged bankrupts Discussions

Write discussion on Undischarged bankrupts
Your posts are moderated
Related Questions
/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-prior

Explain passive personality principle passive personality principle states that jurisdiction may be exercised in respect of events occurring outside a State's own territory whe

Explain Non Proliferation Treaty The treaty which regulates and limits the use of nuclear weapons is known as Non Proliferation Treaty (NPT), signed in 1968. The NPT lays down

Part A A director has a duty to exercise care, skill and diligence at common law and also a statutory duty of care and diligence under s180 (1) Corporations Act 2001 (Cth) in c

Jonathan has been in the continuous employment of Dockland cleaning and laundry Co. Ltd since 1st August 2000. He is also a member and secretary of the Cleaning and Laundry Workers

Stolen Goods - Sales of Goods Where goods have been stolen and had been the thief has been prosecuted and convicted, such the property in the goods revests in like original ow

Effect of Ultra Vires Transaction:  An ultra vires transaction with a company may result in: a) a transfer of specific property to the company, or b) money being lent to

In light of some latest accounts coming into the company and working to promote its latest services, IDSS has also make a few trademarks to ensure and protects its innovative techn

CREDITORS' VOLUNTARY WINDING UP: If no declaration of solvency is made and delivered to the registrar, the liquidation process is a creditors' voluntary winding up even if i

READINGS: First Reading In this order 101 provides like "every Bill shall be read a First Time without motion made or enquiry put and shall be ordered to be read a second