Companies Act · s 314

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s 314

(1)

Where by any section of this Act it is provided that a company and every officer of the company who is in default are liable to a default fine, the company and every such officer shall, for every day during which the default, refusal or contravention continues, be liable to a fine of such amount as is specified in the said section or, if the amount of the fine is not so specified, to a fine of $100.

(2)

For the purposes of any section in this Act which provides that an officer of a company who is in default is liable to a fine or penalty,

"officer who is in default" means any director, manager, secretary or other officer of the company, who knowingly and wilfully authorises or permits the default, refusal or contravention mentioned in the section.