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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.
Companys debts: In case a company is unable to pay its debts the creditors, or a creditor, may petition the High Court for an order to wind it up. During the winding up the me
Arbitration However this is a dispute resolution mechanism whereas disputes are settled out of the court through arbitral tribunals or arbitrators that who make arbitral words
Contracts of Guarantee However a contract of guarantee or suretyship is such a contract through one person to answer that for the debt, such default or miscarriage of another.
Group Accounts: Section 150 requires a company which has subsidiaries to lay before the company in general meeting accounts or statements dealing with the state of affairs an
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Question 1: Trace the development of administrative law in the English legal system from its questioned beginning to the present day. What recognition is it being given today i
Remuneration: Article 108 provides that "a managing director shall receive such remuneration (whether by way of salary plus commission or may participation in earn
Classification of Precedent So as a precedent may also be classified as like; An original precedent whether it is one that creates and applies a new legal rule; o
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