What does provision of directors mean?
Provision is made for a company to indemnify directors, and to obtain insurance for them, but only in circumstances where they have acted honestly and in good faith and in the best interests of the company. In specified situations, there are additional requirements for a director or officer to be indemnified, i.e.
What is a body corporate Trinidad?
“a company incorporated under the laws of the Republic of Trinidad and Tobago which. is owned or controlled by the state.” ( emphasis mine) AND/OR. “a body corporate or unincorporated entity.
Can a director be a company secretary in Trinidad and Tobago?
The Companies Act prohibits directors who are also secretaries from carrying out any decisions under a transaction in which both the director and the secretary are authorised or required to execute.
How do I dissolve a company in Trinidad?
To de-register, a request must be made in writing indicating the date the business has ceased trading or that the business’ annual revenue no longer exceeds TT$500,000.00, and is requesting de-registration. Please follow the link at the end of the next section to download the de-registration form.
What happens when company is not registered?
A company cannot come into existence until it gets registered. But no such obligation has been imposed for firms by the Indian Partnership Act, 1932. If a firm is not registered it does not cease to be called as a firm, it still exists in the eyes law.
When did section 593 of Companies Act 2006 replace Section 103?
(Section 593 of the Companies Act 2006 replaced section 103 of the Companies Act 1985 on 1 October 2009.) For further details, see Practice note, Allotment and issue of shares. © 2021 Thomson Reuters.
When does the Companies Act 2006 come into force?
Companies Act 2006, Section 593 is up to date with all changes known to be in force on or before 28 August 2021. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
When to apply for Certificate of continuance under Companies Act 1997?
Section 340 of the Act states that every former-Act company shall within two years after the commencement date of the Act (i.e., 15th April 1997) apply to the Registrar for a Certificate of Continuance.
What does ” former ACT ” mean in the Companies Act?
Sections 2, 3 and 4 of the Companies (Former-Act Companies) (Validation) Act, 2003 (Act No. 12 of 2003) provides as follows: 2. In this Act— “Act” means the Companies Act, 1995; “certificate of continuance” has the meaning assigned to it in Part V, Division 3 of the Act; “former-Act company” has the meaning assigned to it in section 4 of the Act.