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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.
Return As To Allotments: Section 54 (1) provides that whenever a company limited by shares or a company limited by guarantee and having a share capital makes any allotment of
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(a) Section 63 of the Employment Relations Act provides as follows: "The parties to a labour dispute may jointly refer such dispute for voluntary arbitration to the Tribunal or
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It has been said that "auditors cannot legitimately serve the 'user' public because they are hired and fired by the management of the company being audited. If management does not
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