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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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