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REC Res 17 OCT 17 (1) No person other than a British subject resident within the limits of this Order shell act as managing direc- tor, or in a posivium similar to that of aging director, of a Ching Company.
(2) If default is made in compliance with this Prticle the Company shall be lieble to a fine not exceeding 50 dollars for every day during which the default continues and every director and evory manager of the Company who knowingly Puthorizer or permita the default shall be liable to the like penclty.
(3) Failure to co with the provisions of this nrti- cle shall be a ground upon which an order for winding up the company may be made by the lourt.
(4) This article shall come into force sixty days after the publication of this Order.