ار عالی بوده که دریا
1984 Ed.]
Companies
[CAP. 32
183
in the accounts under the provisions of this section in force immediately before the commencement of that Ordinance.
(Replaced, 6 of 1984, s. 117)
IGIBA.
161C. (1) It shall be the duty of any director of a company to give notice in writing to the company of such matters relating to himself as may be necessary for the purposes of section 161 and of section 161B except so far as it relates to loans made, by the company or by any other person under a guarantee from or on a security provided by the company, to an officer thereof.
(2) Subsection (1) shall apply-
(a) for the purposes of section 161B, in relation to officers other than directors: and
(b) for the purposes of sections 161 and 161B, in relation to persons who are or have at any time during the preceding 5 years been officers,
as it applies in relation to directors.
(3) Any person who makes default in complying with this section shall be liable to a fine of $10,000.
(Added, 80 of 1974, s. 14)
General duty to make disclosure for purposes of sections 161 and 161B.
1948 c. 38. s. 198.
directors of material interests in contracts.
162. (1) Any director of a company who is in any way, directly or indirectly, interested in a contract or proposed contract with the company shall, if his interest in such contract or proposed contract is material, declare the nature of his interest at the earliest meeting of the directors at which it is practicable for him so to do notwithstanding that the question of entering into the contract is not taken into consideration at that meeting.
(2) Where a director gives to the directors of a company a general notice stating that, by reason of facts specified in the notice, he is to be regarded as interested in contracts of any description which may subsequently be made by the company, that notice shall be deemed for the purposes of this section to be a sufficient declaration of his interest, so far as attributable to those facts, in relation to any contract of that description which may subsequently be made by the company; but no such general notice shall have effect in relation to any contract unless it is given before the date on which the question of entering into the contract is first taken into consideration on behalf of the company.
(3) Any director who fails to comply with the provisions of this section shall be liable to a fine of $10,000.
Provided that in a prosecution for an offence under this section in relation to any contract, it shall be a defence if the person charged with the offence proves that he had no knowledge of the contract and that he could not reasonably have been expected to have had such knowledge.
[cf. 1948 c. 38, s. 199]
ار عالی بوده که دریا
1984 Ed.]
Companies
[CAP. 32
183
in the accounts under the provisions of this section in force immediately before the commencement of that Ordinance.
› Replaced, 6 of 1984, s. 117)
IGIBA.
161C. (1) It shall be the duty of any director of a company to give notice in writing to the company of such matters relating to himself as may be necessary for the purposes of section 161 and of section 161B except so far as it relates to loans made, by the company or by any other person under a guarantee from or on a security provided by the company, to an officer thereof.
(2) Subsection (1) shall apply-
(a) for the purposes of section 161B, in relation to officers
other than directors: and
(b) for the purposes of sections 161 and 161B, in relation to persons who are or have at any time during the preceding 5 years been officers,
as it applies in relation to directors.
(3) Any person who makes default in complying with this section shall be liable to a fine of $10,000.
(Added, 80 of 1974, s. 14)
General duty to make disclosure for purposes of sections 161
and 161B.
1948 c. 38. s. 198.
directors of material interests in contracts.
162. (1) Any director of a company who is in any way, directly Disclosure by or indirectly, interested in a contract or proposed contract with the company shall, if his interest in such contract or proposed contract is material, declare the nature of his interest at the earliest meeting of the directors at which it is practicable for him so to do notwith- standing that the question of entering into the contract is not taken into consideration at that meeting.
(2) Where a director gives to the directors of a company a general notice stating that, by reason of facts specified in the notice, he is to be regarded as interested in contracts of any description which may subsequently be made by the company, that notice shall be deemed for the purposes of this section to be a sufficient declaration of his interest, so far as attributable to those facts, in relation to any contract of that description which may subsequently be made by the company; but no such general notice shall have effect in relation to any contract unless it is given before the date on which the question of entering into the contract is first taken into consideration on behalf of the company.
(3) Any director who fails to comply with the provisions of this section shall be liable to a fine of $10,000.
Provided that in a prosecution for an offence under this section in relation to any contract, it shall be a defence if the person charged with the offence proves that he had no knowledge of the contract and that he could not reasonably have been expected to have had such knowledge.
[cf. 1948 c. 38, s. 199,]
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