Power to restrain fraudulent persons from managing companies.

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....pears that a person (i) has been guilty of any offence for which he is punishable (whether he has been convicted or not) under section 542; or (ii) has otherwise been guilty, while an officer of the company, of any fraud or misfeasance in relation to the company or of any breach of his duty to the company, the Court [1][or the Tribunal, as the case may be] may make an order that that person sh....

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....ught. (3) A person intending to apply for the making of an order under this section by the Court [5][or the Tribunal] having jurisdiction to wind up a company shall give not less than ten days' notice of his intention to the person against whom the order is sought, and at the hearing of the application, the last-mentioned person may appear and himself give evidence or call witnesses. (4) An appl....

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....be made by virtue of sub-clause (ii) of clause (b) of sub-section (1), notwithstanding that the person concerned may be criminally liable in respect of the matters on the ground of which the order is to be made. [8][* * *]. (7) If any person acts in contravention of an order made under this section, he shall, in respect of each offence, be punishable with imprisonment for a term, which may extend....