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
ELECTION OF CHAIRMAN:           S.134(d) provides that, unless the articles of a company contain a contrary provision, any member elected by the members present at a meeting m

What are the international policies  -  Policy process In international policy, (politics) each state is part of a system and each is the guardian of its own security and indep

A is large property developer who is listed on the Kuala Lumpur Stock Exchange. B is a building contractor. A employed B in 2008 to build a large office complex comprising 3 towers

Fraudulent Trading: Section 323 provides that if, in the course of the  winding up of a company, it appears that any business of the company has been carried on with intent to

Ben sold clothes at a market stall on weekends for a number of years. Two years ago business was very poor and Ben was forced to cease trading. Ben sold all of his remaining stock

Question Note the behaviour of all parties with respect to the Mitchell Jones scenario which is (or could potentially be) a breach of the RTL Code and why you believe the beh

Article 8 - State Responsibilty Article 8. Act of person or group of persons are presumed to be acting on the instructions of a state therefore even in such a situation the sta

QUESTION 1 What are the role, powers, functions, aims and objectives of Trade Unions in maintaining a sound and harmonious relations? QUESTION 2 (a) What are the possib

PREFERENTIAL DEBTS: These unsecured debts which rank ahead of a floating charge and non-preferential debts are: (a) one year's taxes, i.e. corporation tax, PAYE income tax de

Illustrate the case of environmental taxes Consider the case of environmental taxes. There is clear evidence that International Environmental Agreements (IEAs) suffers from an