173H. Penalty for breach under sections 173, 173A, 173B and 173C

Terms defined in s 4

• Act

  Act

  Defined · s 4

  “Act” includes any regulations;

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• chief executive officer

  chief executive officer

  Defined · s 4

  “chief executive officer”, in relation to a company, means any one or more persons, by whatever name described, who —(a)is in direct employment of, or acting for or by arrangement with, the company; and(b)is principally responsible for the management and conduct of the business of the company, or part of the business of the company, as the case may be;

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• company

  company

  Defined · s 4

  “company” means a company incorporated under this Act or under any corresponding previous written law;

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• default penalty

  default penalty

  Defined · s 4

  “default penalty” means a default penalty within the meaning of section 408;

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• director

  director

  Defined · s 4

  “director” includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors or the majority of the directors of a corporation are accustomed to act and an alternate or substitute director;

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• officer

  officer

  Defined · s 4

  “officer”, in relation to a corporation, includes —(a)any director or secretary of the corporation or a person employed in an executive capacity by the corporation;(b)a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and(c)any liquidator of a company appointed in a voluntary winding up,but does not include —(d)any receiver who is not also a manager;(e)any receiver and manager appointed by the Court;(f)any liquidator appointed by the Court or by the creditors; or(g)a judicial manager appointed under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018;

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