497
(b) from the consideration of the report of an inspector appointed under section 96 it ap- pears that the company has committed a breach of trust.
(2) Upon the winidng-up of a Trust Company every person who has been a director of the company at any time within the period of two years immediately pre- ceding the commencement of the winding-up shall be liable for the balance unpaid on every share which he may have transferred during such two years.
98. Where a Trust Company holds the office of Personal executor, administrator or trustee, every person em- liability of ployed by the company to discharge any of the duties officers of of such office shall, in respect of the duties entrusted
a Trust to him, be personally responsible to the court and be
Company. subject to the process of the court, as though he had been personally appointed to such office.
99.-(1) Any director, officer or servant of a Trust Offences. Company who wilfully and with intent to defraud neglects to make any entry in the books of the com- ance No. 1 c.f. Ordin- pany which it is his duty to make shall be guilty of 1898, of a misdemeanour.
(2) Any director, officer or servant of a Trust Com- pany, who wilfully and with intent to defraud makes or abets the making of any false entry in the books of the company, or subscribes or exhibits any false document with intent to deceive any person appointed under this Part of this Ordinance to investigate the affairs and management of the company shall be guilty of a misdemeanour.
(3) Any director, officer or servant of a Trust Com- pany who refuses to produce for examination to any person appointed under this Part of this Ordinance to investigate the affairs and management of the com- pany all books and documents relevant to such in- vestigation which are in his custody or control shall be guilty of a misdemeanour.
(4) Any Trust Company which makes default in for- warding to the Registrar of Companies the verified statement as required by section 95 shall be liable on summary conviction to a fine not exceeding fifty dollars for every day during which the default continues, in addition to any penalty which it may incur under the Companies Ordinance, 1932, and any director or man- ager of the company who knowingly and wilfully au- thorises the default shall be liable on summary cinvic- tion to the like penalty.
s. 5.
100. No Trust Company shall be appointed to be No Trust guardian of the person of an infant or committee of Company to the person of a lunatic.
be guadian or personal committee.
101. No member of a Trust Company shall at any Restriction time hold shares in the capital of the company to an on holding amount exceeding one fifth of the issued capital of shares in a the company for the time being.
Trust Company.
restrained,
102. So long as any estate in respect of which a Voluntary Trust Company is trustee shall remain in whole or in winding-up part unadministered, it shall not be lawful to proceed or disposal to wind up the company voluntarily, unless with the may be sanction of the court, and it shall be lawful for any person interested in such estate, or who may have any claim in respect thereof, to apply to the court in a summary way by motion to restrain any director or any shareholder from disposing of any shares which such director or shareholder may hold in the company
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