Penalty for default of certain provisions creates director liability and daily continuing default fines under company law amendment. The amendment imposes monetary sanctions on any individual or company director who defaults in complying with specified statutory duties, making them ... Summary
Penalty for default of certain provisions creates director liability and daily continuing default fines under company law amendment.
The amendment imposes monetary sanctions on any individual or company director who defaults in complying with specified statutory duties, making them liable to a primary fine up to a stated maximum and to an additional continuing default penalty assessed daily for each day after the first during which the default continues.
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