286. Power to order public examination of promoters, directors, etc. Flashcards
- Power to order public examination of promoters, directors, etc.
General overview
[286.01] Section 286 provides that should the liquidator make a report that there is a fraud committed, or concealment of a material fact, or the failure of any officer of the company to act honestly or diligently or has been guilty of any impropriety or recklessness in relation to the affairs of the company, or any person who is known or suspected to have in his possession any property of the company or is indebted to the company, or is capable of giving the relevant information, the court may direct the person(s) stated in s 286(1) to appear before the court to be publicly examined on oath as to the promotion or formation or the conduct of the business of the company, or in case of the officer or former officer of the company, as to his conduct and dealings as such officer.
