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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.
Q. Show the Cross agency actions ? As already described, the ASIC, ATO and FWO all have responsibilities in investigating and monitoring elements of phoenix activity. This mean
Mode of Reduction: S.68 (1) expressly states that a company may reduce its capital "in any way". There is therefore no statutorily prescribed mode of reduction and the actual
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Explain about the tort of negligence. A form of civil wrong where a contract doesn’t exist among the two parties and this is not a crime where punishment is the major goal to t
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Question 1: (a) Briefly outline the role of the State in Employee Relations. (b) Write short notes on any three of the following: (i) The Ministry of Labour and Industrial
Determine the agenda-setting process The "agenda" is the list of subjects or problems to which government officials, and people outside of government closely associated with t
Contracts of Guarantee There the Law of Contract Act, 1961, S.3 (1) provides as follow: Actually "No suit shall be brought whereby to charge the defendant upon any type of
Legal Status: A promoter is not an agent of the company he promotes. However, the English courts have held that he stands in a fiduciary relationship to the company he promo
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