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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.
Necessity - Law of Agency and Partnership Therefore an agency of necessity may subsist either domestic or commercial: Commercial Agency of Necessity: Although
Name to end with the word "Limited": S.5(1)(a) provides that the word "limited" must be the last word of the name of a company which is to be limit
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
NEGLIGENCE: It is still uncertain whether damage caused by negligence can be brought under the heading of "fraud" for the purpose of the exception of "fraud on the minority."
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What are the effects of the monetary expansion The first diagram corresponds to the case when both countries maintain a fixed exchange rate, and the second is when they allow
QUESTION 1 What measures do you consider important in ensuring good corporate governance? Explain why QUESTION 2 Explain the nature of the relationship among a bank and
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