Penalty for failure to comply with meeting related provisions: daily fines on companies and officers for ongoing default. Non compliance with the provisions of sections 159-161 renders the company and every officer or director in default liable to a per day monetary penalty for each day the default continues. For these sections the expressions 'officer' and 'director' include any person in accordance with whose directions or instructions the board of directors is accustomed to act. The statutory text records an amendment changing the per day amount.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for failure to comply with meeting related provisions: daily fines on companies and officers for ongoing default.
Non compliance with the provisions of sections 159-161 renders the company and every officer or director in default liable to a per day monetary penalty for each day the default continues. For these sections the expressions "officer" and "director" include any person in accordance with whose directions or instructions the board of directors is accustomed to act. The statutory text records an amendment changing the per day amount.
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