(1984 Ed.] Companies [CAP. 32 175
Provided that a company shall not be bound to send such notice where the register has, at all times since it came into existence or, in the case of a register in existence at the commencement of the Companies (Amendment) Ordinance 1984, at all times since then, been kept at the registered office of the company.
(3) Where a company makes default in complying with subsection (1) or makes default for 14 days in complying with subsection (2), the company and every officer of the company who is in default shall be liable to a default fine of $500.
fine of $500,
(Added, 6 of 1984, s. 116)
158B. (1) It shall be the duty of any director or secretary of a company to give notice to the company of such matters relating to himself as may be necessary for the purposes of section 158.
(2) Any person who makes default in complying with subsection (1) shall be liable to a fine of $5,000.
(Added, 6 of 1984, s. 116)
Duty to make disclosure for purposes of section 158.
an index of directors.
158C. (1) The Registrar shall, as from a date to be appointed by the Governor in Council by notice in the Gazette, keep and maintain an index of every person who is a director of a company, which shall in respect of each director show his name and address and the latest particulars sent to the Registrar under section 158 relating to such director, and the name of each company of which he is a director.
(2) The index kept in pursuance of this section shall be open to inspection by any person on payment of the prescribed fee.
(Added, 6 of 1984, s. 116)
159. (1) In a limited company the liability of the directors or managers, or of the managing director, may, if so provided by the memorandum, be unlimited.
(2) In a limited company in which the liability of a director or manager is unlimited, the directors or managers of the company, if any, and the member who proposes a person for election or appointment to the office of director or manager, shall add to that proposal a statement that the liability of the person holding that office will be unlimited, and the promoters, directors, managers, and secretary, if any, of the company, or one of them, shall, before the person accepts the office or acts therein, give him notice in writing that his liability will be unlimited.
(3) If any director, manager, or proposer makes default in adding such a statement, or if any promoter, director, manager, or secretary makes default in giving such a notice, he shall be liable to a fine of $5,000, and shall also be liable for any damage which the person so elected or appointed may sustain from the default, but the liability of the person elected or appointed shall not be affected by the default. (Amended, 22 of 1950, Schedule and 6 of 1984, s. 259)
Limited company may have directors with unlimited liability.
1929 c. 23, s. 146.
Page 65
Page 66
(
1984 Ed.]
Companies
[CAP. 32
175
Provided that a company shall not be bound to send such notice where the register has, at all times since it came into existence or. in the case of a register in existence at the commencement* of the Companies (Amendment) Ordinance 1984, at all times since then, been kept at the registered office of the company.
(3) Where a company makes default in complying with subsection (1) or makes default for 14 days in complying with subsection (2), the company and every officer of the company who is in default shall be liable to a default fine of $500.
fine of ᏚᏚᎾᏫ,
(Added, 6 of 1984, s. 1161
158B. (1) It shall be the duty of any director or secretary of a company to give notice to the company of such matters relating to himself as may be necessary for the purposes of section 158.
(2) Any person who makes default in complying with sub- section (1) shall be liable to a fine of $5.000.
1 Added, 6 of 1984, s. 116)
46.00 1984) 1*308 841
Duty to make disclosure for purposes of section 158.
an index of directors.
158C. (1) The Registrar shall, as from a date to be appointed Registrar to keep by the Governor in Council by notice in the Gazette, keep and maintain an index of every person who is a director of a company, which shall in respect of each director show his name and address and the latest particulars sent to the Registrar under section 158 relating to such director, and the name of each company of which he is a director.
(2) The index kept in pursuance of this section shall be open to inspection by any person on payment of the prescribed fee.
( Added, 6 of 1984, s. 116)
159. (1) In a limited company the liability of the directors or managers, or of the managing director, may. if so provided by the memorandum, be unlimited.
(2) In a limited company in which the liability of a director or manager is unlimited, the directors or managers of the company, if any, and the member who proposes a person for election or appointment to the office of director or manager, shall add to that proposal a statement that the liability of the person holding that office will be unlimited, and the promoters, directors, managers, and secretary, if any, of the company, or one of them, shall, before the person accepts the office or acts therein, give him notice in writing that his liability will be unlimited.
(3) If any director, manager, or proposer makes default in adding such a statement, or if any promtper, director manager, or secretary makes default in giving such a notice, he shall be liable to a fine of $5,000, and shall also be liable for any damage which the person so elected or appointed may sustain from the default. but the liability of the person elected or appointed shall not be affected by the default. (Amended, 22 of 1950, Schedule and 6 of 1984, s. 259)
Limited
company may have directors with unlimited liability.
1929 c. 23, s. 146.
Page 65Page 66
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