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Frovisions
as to undis- charged bankrupts acting as directors.
19 & 20 Geo. 5, c. 23, . 142.
Validity of acts of directora.
19 & 20 Gen.
5, c. 23,
s. 143.
Register of directors.
19 & 20 Geo.
5, c. 23,
s. 144.
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of the company, he shall be liable to a fine not ex- ceeding fifty dollars for every day between the expiration of the said period or shorter time or the day on which he ceased to be qualified, as the case may be, and the last day on which it is proved that he acted as a director.
141.-(1) If any person being an undischarged bankrupt acts as director of, or directly or indirectly takes part in or is concerned in the management of, any company except with the leave of the court by which he was adjudged bankrupt, he shall be liable on conviction on indictment to imprisonment for a term not exceeding two years, or on summary convic- tion to imprisonment for a term not exceeding six montlig or to a fine not exceeding five thousand dollars, or to both such imprisonment and fine:
Provided that a person shall not be guilty of an offence under this section by reason that he, being an undischarged bankrupt, has acted as director of, or taken part or been concerned in the management of, a company, if at the commencement of this Ordinance he was acting as director of, or taking part or being concerned in the management of, that company and has continuously so acted, taken part, or been concerned since that date and the bankruptcy was prior to that date.
(2) The leave of the court for the purposes of this section shall not be given unless notice of intention to apply therefor has been served on the official receiver and it shall be the duty of the official receiver, if he is of opinion that it is contrary to the public interest that any such application should be granted, to attend on the hearing of and oppose the granting of the application.
an
(3) In this section the expression "company" includes an unregistered company and a company incorporated outside the Colony which has established place of business within the Colony, and the expression "official receiver" means the official receiver in bankruptcy.
142. The acts of a director or manager shall be valid notwithstanding any defect that may afterwards be discovered in his appointment or qualification.
143. (1) Every company shall keep at its regis- tered office a register of its directors or managers containing with respect to each of them the following particulars, that is to say
(a) in the case of an individual, his present christian name and surname, any former christian name or surname, his usual residen. tial address, his nationality, and, if that nationality is not the nationality of origin, his nationality of origin, and his business oc- cupation, if any, or, if he bas no business occupation but holds any other directorship or directorships, particulars of that directorship or of some one of those directorships; and (b) in the case of a corporation, its corporate
name and registered or principal office.
(2) The company shall, within the periods respect- ively mentioned in this subsection, send to the regia- trar of companies a return in the prescribed forin con- taining the particulars specified in the said register and a notification in the prescribed form of any change among its directors or in any of the particulars contained in the register.
The period within which the said return is to be sent shall be a period of fourteen days from the appointment of the first directors of the company, and the period within which the said notification of a change is to be sent shall be fourteen days from the happening thereof.
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(3) The register to be kept under this section shall during business bours (subject to such reasonable re strictions as the company may by its articles or in general meeting impose, so that not less than two hours in each day be allowed for inspection) be open to the inspection of any member of the company without charge and of any other person on payment of one dollar, or such less sum as the ompany may prescribe, for each inspection.
(4) If any inspection required under this section is refused or if default is made in complying with sub- section (1) or subsection (2) of this section, the com- pany and every officer of the company who is in default shall be liable to a default fine.
(5) In the case of any such refusal, the court may by order compel an immediate inspection of the register.
(6) For the purposes of this section, a person in accordance with whose directions or instructions the directors of a company are accustomed to act shall be deemed to be a director and officer of the company.
144. (1) Every company to which this section Particulars applies shall, in all trade catalogues, trade circulars, with respect showcards and business letters on or in which the to directors company's name appears and which are issued or sent in trade by the company to any person in any part of His circulars, Majesty's dominions, state in legible characters with &c. respect to every director being a corporation, the cor- 19 & 20 Geo. porate name, and with respect to every director being. 145.
5 c. 23,
an individual, the following particulars--
(a) his present christian name, or the initials
thereof, and present surname;
(b) any former christian names and surnames;
(c) his nationality, if not British;
(d) bis nationality of origin, if his nationality is
not the nationality of origin:
Provided that, if special circumstances exist which render it in the opinion of the court expedient that such an exemption should be granted, the court may by order grant, subject to such conditions as may be specified in the order, exemption from the obligations imposed by this subsection,
(2) This section shall apply to-
(a) every company registered under this Ordin- ance OF the Ordinances repealed by this Ordinance; and
(b) every company incorporated outside the Colony which has an established place of business within the Colony; and
Catalogues,
(c) every company registered under the Money Ordinance
lenders Ordinance, 1911, whenever it was No. 16 of registered or whenever it established a placo 1911. of business.
(3) If a company makes default in complying with this section, every director of the company shall be liable on summary conviction for each offence to a fine not exceeding fifty dollars, and, in the case of a director being a corporation, every director, secretary and officer of the corporation, who is knowingly a party to the default, shall be liable to a like penalty:
Provided that no proceedings shall be instituted under this section except by, or with the consent of, the Attorney General.
(4) For the purposes of this section—
(a) the expression "director" includes any person in accordance with whose directions or in- structions the directors of the company are accustomed to act:
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