Chapter 2: Formation, Administration and Dissolution of Companies
Part F: Governance of companies
R38: Prescribed officers of companies
- (1) Despite not being a director of a particular company, a person is a "prescribed officer" of the company for all purposes of the Act if that person-
- (a) exercises general executive control over and management of the whole, or a significant portion, of the business and activities of the company; or
- (b) regularly participates to a material degree in the exercise of general executive control over and management of the whole, or a significant portion, of the business and activities of the company.
- (2) This regulation applies to a person contemplated in sub-regulation (1) irrespective of any particular title given by the company to-
- (a) an office held by the person in the company; or
- (b) a function performed by the person for the company.
No related regulations.
No related note.
No related forms.