Notice requirement for creditors' resolutions: timely filing triggers officer liability and continuing penalty for non compliance. A company must give the Registrar notice within ten days of any resolution passed at a creditors' meeting under section 500; failure to do so renders the company and every officer in default (including a liquidator deemed an officer) liable to a daily monetary penalty for each day the default continues.
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.
Notice requirement for creditors' resolutions: timely filing triggers officer liability and continuing penalty for non compliance.
A company must give the Registrar notice within ten days of any resolution passed at a creditors' meeting under section 500; failure to do so renders the company and every officer in default (including a liquidator deemed an officer) liable to a daily monetary penalty for each day the default continues.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.