MiLAWYER

Law library · Sierra Leone · The Companies Act, 2009

Section 522, The Companies Act, 2009

In forceThe Companies Act, 2009, Sierra Leone

(1) No proceeding under this Act shall be invalidated byreason of any defect, irregularity or deficiency of notice unless the court is of the opinion that injustice has been or may be caused thereby which cannot be remedied by an order of the court. (2) The court may, if it thinks fit make an order declaring that the proceeding is valid notwithstanding the defect, irregularity or deficiency. (3) Notwithstanding subsections (1) and (2) or any other provision of this Act, where an omission, defect, error or irregularity, including the absence of a quorum at any meeting of the company or of the directors, has occurred in the management or administration of a company whereby a provision of this Act has been contravened, or whereby there has been default of a procedural or technical kind in the observance of the articles of association or whereby any proceedings at or in connection with any meeting of the company or of the directors or any assembly purporting to be such a meeting have been rendered ineffective, including the failure to make or lodge with the Commission any declaration of solvency, the court- (a) may, either of its own motion or on the application of any interested person, make such order as it thinks fit to rectify or cause 378 379 grant relief. Irregularities in proceedings. to be rectified or to nullify or modify or cause to be modified the consequences in law of any such omission, defect, error or irregularity, or to validate any act, matter or thing rendered or alleged to have been rendered invalid by or as a result of such omission, defect, error or irregularity; (b) shall before making such order satisfy itself that such order would not do injustice to the company or to any member or creditor; (c) may, where any such order is made, give such ancillary or consequential directions as it thinks fit; (d) may determine what notice or summons is to be given to other persons of the intention to make such application or of the intention to make such order, and whether and how it should be given or served and whether it should be advertised in any newspaper. (4) The court may, whether a company is in the process of being wound up or not, on good cause shown, enlarge or abridge any time for doing any act or taking any proceeding allowed or limited by this Act or any regulation on such terms as the justice of the case may require and such enlargement may be ordered although the application is not made until after the time originally allowed or limited.

Read the whole lawDownload PDFAsk Tima what this means

Check the current official version before relying on this text. MiLAWYER shares legal information, not legal advice.