§ 155B — Debarment for default of relevant requirement of this Act

155B.—(1) Where the Registrar is satisfied that a company is in default in relation to a relevant requirement of this Act, the Registrar may make a debarment order against any person who, at the time the order is made, is a director or secretary of the company.[36/2014]

(2) Subject to subsection (3), a person who has a debarment order made against him or her must not —(a)

except in respect of a company of which the person is a director immediately before the order was made — act as director of any company; or

(b)

except in respect of a company of which the person is a secretary immediately before the order was made — act as secretary of any company.[36/2014]

(3) The debarment order applies from the date that the order is made and continues in force until the Registrar cancels or suspends the order.[36/2014]

(4) The Registrar may, upon the application of a person who has a debarment order made against the person or on the Registrar’s own accord, cancel or suspend such debarment order where the default in relation to the relevant requirements of this Act as at the time the debarment order is made has been rectified or on such other ground as may be prescribed, subject to such conditions as the Registrar may impose.[36/2014]

(5) Where the Registrar imposes conditions on the suspension of a debarment order under subsection (4), the suspension of the debarment order operates so long as that person fulfils and continues to fulfil all such conditions imposed by the Registrar.[36/2014]

(6) The Registrar must not make a debarment order under subsection (1) —(a)

unless the default in relation to a relevant requirement of this Act has persisted for a continuous period of 3 months or more and the person was a director or secretary of the company during that period; and

(b)

unless the Registrar has, not less than 14 days before the order is made, sent the director or secretary concerned a notice of the Registrar’s intention to make a debarment order under subsection (1) specifying the default in relation to the relevant requirement of this Act for which the debarment order is proposed to be made and giving the director or secretary an opportunity to show cause why the debarment order should not be made.[36/2014]

(7) The Registrar must, in determining whether to make a debarment order, consider any representation from the director or secretary made pursuant to the notice under subsection (6)(b).[36/2014]

(8) Any person who is aggrieved by a debarment order made under subsection (1), or the Registrar’s refusal to cancel or suspend a debarment order under subsection (4), may appeal to the Minister.[36/2014]

(9) An appeal under subsection (8) does not suspend the effect of the debarment order.[36/2014]

(10) Any person who contravenes subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.[36/2014]

(11) The Registrar may from time to time prepare and publish, in such form and manner as the Registrar may decide, the names and particulars of the persons against whom a debarment order has been made and which continues in force.[36/2014]

(12) In this section —“debarment order” means a debarment order made under subsection (1);

“relevant requirement of this Act” has the meaning given by section 155(2);

“secretary” means a secretary of the company appointed under section 171.[36/2014]

—(1) Where the Registrar is satisfied that a company is in default in relation to a relevant requirement of this Act, the Registrar may make a debarment order against any person who, at the time the order is made, is a director or secretary of the company.[36/2014]

(2) Subject to subsection (3), a person who has a debarment order made against him or her must not —(a)

except in respect of a company of which the person is a director immediately before the order was made — act as director of any company; or

(b)

except in respect of a company of which the person is a secretary immediately before the order was made — act as secretary of any company.[36/2014]

(3) The debarment order applies from the date that the order is made and continues in force until the Registrar cancels or suspends the order.[36/2014]

(4) The Registrar may, upon the application of a person who has a debarment order made against the person or on the Registrar’s own accord, cancel or suspend such debarment order where the default in relation to the relevant requirements of this Act as at the time the debarment order is made has been rectified or on such other ground as may be prescribed, subject to such conditions as the Registrar may impose.[36/2014]

(5) Where the Registrar imposes conditions on the suspension of a debarment order under subsection (4), the suspension of the debarment order operates so long as that person fulfils and continues to fulfil all such conditions imposed by the Registrar.[36/2014]

(6) The Registrar must not make a debarment order under subsection (1) —(a)

unless the default in relation to a relevant requirement of this Act has persisted for a continuous period of 3 months or more and the person was a director or secretary of the company during that period; and

(b)

unless the Registrar has, not less than 14 days before the order is made, sent the director or secretary concerned a notice of the Registrar’s intention to make a debarment order under subsection (1) specifying the default in relation to the relevant requirement of this Act for which the debarment order is proposed to be made and giving the director or secretary an opportunity to show cause why the debarment order should not be made.[36/2014]

(7) The Registrar must, in determining whether to make a debarment order, consider any representation from the director or secretary made pursuant to the notice under subsection (6)(b).[36/2014]

(8) Any person who is aggrieved by a debarment order made under subsection (1), or the Registrar’s refusal to cancel or suspend a debarment order under subsection (4), may appeal to the Minister.[36/2014]

(9) An appeal under subsection (8) does not suspend the effect of the debarment order.[36/2014]

(10) Any person who contravenes subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.[36/2014]

(11) The Registrar may from time to time prepare and publish, in such form and manner as the Registrar may decide, the names and particulars of the persons against whom a debarment order has been made and which continues in force.[36/2014]

(12) In this section —“debarment order” means a debarment order made under subsection (1);

“relevant requirement of this Act” has the meaning given by section 155(2);

“secretary” means a secretary of the company appointed under section 171.[36/2014]