Companies Act, 1990
Restriction on dealing. |
112.—(1) Subject to subsection (2), a person convicted of anoffence under section 111 or this section shall not deal within the period of 12 months from the date of the conviction. | |
(2) Where a person convicted of an offence under subsection (1) has, before the date of his conviction, initiated a transaction under which some element of performance remains to be rendered, subsection (1) shall not prohibit him from completing the transaction where a relevant authority of a recognised stock exchange has indicated in writing, to the parties to the transaction, its satisfaction that— | ||
(a) the transaction was initiated but not completed before the date of the conviction, and | ||
(b) if the transaction were not concluded, the rights of an innocent third party would be prejudiced, and | ||
(c) the transaction would not be unlawful under any other provision of this Part. | ||
(3) A person who contravenes this section shall be guilty of an offence. |