Section 240 of CA 2013 : Section 240: Liability Of Officers In Respect Of Offences Committed Prior To Merger, Amalgamation, Etc
CA 2013
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Explanation using Example
Imagine a company named 'AquaPure Ltd.' that was involved in falsifying its financial statements before it merged with another company called 'ClearH2O Inc.' The officers of AquaPure Ltd. who were responsible for this misconduct are considered 'officers in default.' According to Section 240 o...
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