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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.
Contents of Group Accounts: By s.152(1), the group accounts laid before a company shall give a true and fair view of the state of affairs and profit or loss of the company and
Drawee - Negotiable Instruments There following points concerning to the drawee should be noted. Through S.4(2) (a) provides that: like; (i) The drawee is dead or might bankr
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