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

Liquidators powers, Liquidators' Powers:                              ...

Liquidators' Powers:                                       The liquidator (in any type of liquidation) has numerous statutory powers but in the exercise of some of them he mus

Qualifications of judge, Qualifications of Judge Hence for qualify to ...

Qualifications of Judge Hence for qualify to appointment as a judge of the High Court a person must either be as; An advocate of the High Court or may Have b

F.o.b. contracts - import and export trade, F.O.B. Contracts - Import and E...

F.O.B. Contracts - Import and Export Trade Under an f.o.b. like free on board contract it is the duty of like the seller to put the goods on board a ship to the purpose of the

Constitutional interpretation, The United States form of government is ofte...

The United States form of government is often described as a "Constitutional Democracy ". The existence and importance of a written Constitution is a major difference between the A

State the linkages among policy research and policy decision, State the lin...

State the linkages between policy research and policy decisions The linkages between policy research and analysis and policy decisions are complex and, often, problematic but t

Analyse the extent of the criminal liability, One night Mr Kokintou and Ms ...

One night Mr Kokintou and Ms Mangetou, entered into a housethrough a window which was negligently left open by the owner of the house.  Whilst Ms Mangetou was keeping guard at the

Corporation aggregate - types of corporations, Corporation Aggregate - ...

Corporation Aggregate - Types of Corporations However this is a legal entity formed through at least two people and whose membership at any one time legally concludes of a

Partnerships - unincorporated associations, Partnerships - Unincorporated A...

Partnerships - Unincorporated Associations Conversely Partnership is defined through S.3 (1) of the Partnership Act as "the relation that subsists between persons carrying at

Law institutions and delegation of authority, Law institutions and delegati...

Law institutions and delegation of authority How time-consistency plays a significant role in policy process. The problems induced by the heterogeneity leading to the problem o

Suspected illegal unreported and unregulated vessels, Question: (a) Sus...

Question: (a) Suspected Illegal, Unreported & Unregulated (IUU) Vessels calling into Mauritius Port are subject to a series of investigations, prior to authorizing unloading

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