{"id":81511,"date":"2023-11-27T15:55:41","date_gmt":"2023-11-27T10:25:41","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?post_type=act&#038;p=81511"},"modified":"2023-11-27T15:55:43","modified_gmt":"2023-11-27T10:25:43","slug":"section-342","status":"publish","type":"act","link":"https:\/\/enterslice.com\/learning\/act\/companies-act-2013\/section-342\/","title":{"rendered":"Section 342. Prosecution Of Delinquent Officers And Members Of Company"},"content":{"rendered":"\n<p>(1) If it appears to the Tribunal in the course of a winding up by the Tribunal, that any person, who is or has been an officer, or any member, of the company has been guilty of any offence in relation to the company, the Tribunal may, either on the application of any person interested in the winding up or&nbsp;<em>suo motu<\/em>, direct the liquidator to prosecute the offender or to refer the matter to the Registrar.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><span id='easy-footnote-1-81511' class='easy-footnote-margin-adjust'><\/span><span class='easy-footnote'><a href='https:\/\/enterslice.com\/learning\/act\/companies-act-2013\/section-342\/#easy-footnote-bottom-1-81511' title='Sub-sections (2), (3) and (4) omitted by Act 31 of 2016, s. 255 and the Eleventh Schedule (w.e.f. 15-11-2016).'><sup>1<\/sup><\/a><\/span>*\u00a0*\u00a0*\u00a0*\u00a0*<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(5) When any prosecution is instituted under this section, it shall be the duty of the liquidator and of every person, who is or has been an officer and agent of the company to give all assistance in connection with the prosecution which he is reasonably able to give.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><em>Explanation<\/em>.&#8211;For the purposes of this sub-section, the expression &#8220;agent&#8221;, in relation to a company, shall include any banker or legal adviser of the company and any person employed by the company as auditor.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><span id='easy-footnote-2-81511' class='easy-footnote-margin-adjust'><\/span><span class='easy-footnote'><a href='https:\/\/enterslice.com\/learning\/act\/companies-act-2013\/section-342\/#easy-footnote-bottom-2-81511' title='Sub-section (6) omitted by Act 29 of 2020, s. 48 (w.e.f. 21-12-2020).'><sup>2<\/sup><\/a><\/span>*\u00a0*\u00a0*\u00a0*\u00a0*<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>(1) If it appears to the Tribunal in the course of a winding up by the Tribunal, that any person, who is or has been an officer, or any member, of the company has been guilty of any offence in relation to the company, the Tribunal may, either on the application of any person interested [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":79763,"parent":79755,"menu_order":0,"template":"","format":"standard","meta":[],"categories":[11445],"tags":[1007],"acf":{"service_id":"215"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Section 342. 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