Law library · Sierra Leone · The Companies Act, 2009
Section 492, The Companies Act, 2009
In forceThe Companies Act, 2009, Sierra Leone
(1) Unless otherwise provided in this Act, if any companyto which this Part applies fails to comply with any of the provisions
of this Part the company, and every officer or agent of the company
Le.5,000,000 or, in the case of a continuing offence Le.500,000.for
each day during which the default continues.
(2) If a company defaults in delivering to the Commission
any document required under section 485 to be delivered for
registration, its rights under or arising out of any contract made in
Sierra Leone during the time of the default continues shall not be
enforceable by action or other legal proceedings.
(3) The company may apply to the court for relief against
the disability imposed by subsection (2) and the court may on being
satisfied that it is just and equitable to grant relief, grant such relief
either generally or as respects any particular contract and on such
conditions as it may impose.
(4) Nothing in this section shall prejudice the rights of
any other parties against the company in respect of that contract.
(5) If an action or proceeding is commenced by any other
party against that party in respect of the contract nothing shall
preclude the company from enforcing in that action or proceeding by
way of counterclaim, set off or otherwise, such rights as it may have
against that party in respect of the contract.
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