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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 299

Responsibility for fraudulent trading of persons concerned.

299.(1) If in the course of winding up a company it appears that any person
who has taken part in the formation or promotion of the company, or any past
or present director or liquidator, or any officer of the company, has
misapplied or retained or become liable or accountable for any money or
property of the company, or been guilty of any misfeasance or breach of trust
in relation to the company, the court may, on the application [of
the Official Assignee or] of the liquidator, or of any creditor or
contributory, examine into the conduct of the promoter, director, liquidator
or officer, and compel him to repay or restore the money or property or any
part thereof respectively with interest at such rate as the court thinks just,
or to contribute such sum to the assets of the company by way of compensation
in respect of the misapplication, retainer, misfeasance or breach of trust as
the court thinks just.

(2) This section shall have effect notwithstanding that the offence is one for
which the offender may be criminally liable.

© 1960 Crown Copyright

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