Liability - company secretary, Business Law and Ethics

Assignment Help:

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.


Related Discussions:- Liability - company secretary

Court of appeal - establishment and composition, Court of Appeal - Establis...

Court of Appeal - Establishment and Composition Establishment Therefore the Court of Appeal was established on date 28th October in year 1977 through Section 64(1) of t

Statutory safeguard - non-accepting shareholders, Statutory safeguard - Non...

Statutory safeguard - Non-accepting shareholders: The non-accepting shareholders have a further statutory safeguard.  Company A is not obliged to serve notice of intention to

Change of business name, Change of Business Name:  Section 17(4) of the...

Change of Business Name:  Section 17(4) of the Registration of Business Names Act provides that if - (a)     any company is, through inadvertence or otherwise, registered un

General principles of calls on contributories, General principles of Calls ...

General principles of Calls on contributories: If it is necessary to make calls on contributories the liquidator draws up a list "A" of contributories who were members at th

Unwritten sources , UNWRITTEN SOURCES OF ENGLAND LAW: However common l...

UNWRITTEN SOURCES OF ENGLAND LAW: However common law may be illustrated as that branch of the law of England that was developed through the English courts on the basis of the

Adequacy of consideration - law of contract, Adequacy of consideration - La...

Adequacy of consideration - Law of Contract Well provided that consideration is sufficient, or actual it necessitate not be adequate.  Hence the court will not compare the val

Class meetings - meetings and resolutions, Class Meetings: "Class meet...

Class Meetings: "Class meetings" are not provided for by the Act.  however, a class meeting may be held pursuant to the provisions of the company articles of association, if a

Torts law problem, Bazil decided to celebrate a promotion he had received a...

Bazil decided to celebrate a promotion he had received at work that week by having a few alcoholic drinks on the weekend. After a few hours spent in the local pub, Bazil decided he

Judges of appeal, Judges of Appeal, Attorney and Registrar Judges of...

Judges of Appeal, Attorney and Registrar Judges of Appeal However a "judge of appeal" is a judge that who is appointed to the Court of Appeal. Attorney - General

State article1of universal declaration of human rights, State Article1of Un...

State Article1of Universal Declaration of Human Rights Article 1: 'All human beings are born free and equal in respect and rights. They are endowed with reason and conscience

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd