Subject to the Companies Act directors can loose their position if found guilty of fraud.
How is this effected? And how does one ensure its affected.
CIPROs hotline doesn't work.
Subject to the Companies Act directors can loose their position if found guilty of fraud.
How is this effected? And how does one ensure its affected.
CIPROs hotline doesn't work.
Participation is voluntary.
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.....Yes, if this happens, who disqualifies him or removes him???
I expect someone (I guess it could be any concerned citizen) needs to forward the judgement to CIPRO. I certainly wouldn't rely on CIPRO actively scanning court judgements.
There are a few other levers in society. Banks, for example, will do credit checks on the directors of a company. If one of the directors has an adverse report it does affect the relationship. If that adverse report related to fraud, I'dexpecthope the banks wouldn't touch the company with a barge pole.
Participation is voluntary.
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I was really hoping someone may have the correct avenue to contact at CIPRO...
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