Companies Act, 1990
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Restrictions on company to which section 150 (3) applies. |
155.—(1) This section applies to any company in relation to which a person who is the subject of a declaration under section 150 is appointed or acts in any way, whether directly or indirectly, as a director or secretary or is concerned in or takes part in the promotion or formation of that company. | |
(2) Subsections (2) to (11) of section 60 of the Principal Act shall not apply to any company to which this section applies. | ||
(3) Sections 32 to 36 of the Companies (Amendment) Act, 1983 , shall, with the necessary modifications, apply to any company to which this section applies as if the company were a public limited company so, however, that for the purposes of this subsection those sections shall apply as if— | ||
(a) in subsection (1) of section 32 the words “during the initial period” were deleted; | ||
(b) any other reference in any of those sections to “initial period” were deleted; and | ||
(c) in subsection (2) of section 32 the words “relevant person” were defined to mean “any subscriber to the memorandum, any director or any person involved in the promotion or formation of the company”. | ||
(4) Without prejudice to section 39 , sections 32 and 37 shall not apply to any company to which subsection (1) applies. | ||
(5) From the date of a declaration under section 150 a person in respect of whom the declaration was made shall not accept appointment to a position or act in any manner mentioned in subsection (1) of this section in relation to a company unless he has, within the 14 days immediately preceeding such appointment or so acting, sent to the registered office of the company a notification that he is a person to whom section 150 applies. |