COMPANIES ACT - 1963 (ACT 179)

    Section - 186 - Restraining Fraudulant Persons from Managing Companies

    (1) Where,

    (a) a person is convicted on indictment, whether in Ghana or elsewhere, of any offence involving fraud or dishonesty or any offence in connection with the promotion, formation or management of a body corporate, or

    (b) a person is adjudicated bankrupt whether in Ghana or elsewhere, or

    (c) it appears that a person has been guilty of any criminal offence, whether convicted or not, in relation to any body corporate or of any fraud or breach of duty in relation to a body corporate,

    the Court, on its own motion or on the application of any of the persons referred to in subsection (3) of this section, may order that that person shall not, without the leave of the Court, be a director of or in any way, whether directly or indirectly, be concerned or take part in the management of any company or act as auditor, receiver or liquidator of any company for such period as may be specified in the order.

    (2) An order under paragraph (a) of subsection (1) of this section may be made by any court in Ghana before which the person is convicted as well as by the High Court.

    (3) An application for an order under this section may be made by the Registrar or by the Official Trustee, or by the trustee in bankruptcy of the person concerned or by the liquidator of any body corporate.

    (4) A person intending to apply for the making of an order under this section shall give not less than twenty-eight days written notice of his intention to the person against whom the order is sought, and to the Registrar if the application is made by some person other than the Registrar.

    (5) On the hearing of any application under this section the applicant, the person against whom the order is sought, the Registrar and the Official Trustee may appear, and give evidence and call witnesses and draw the attention of the Court to any relevant matters.

    (6) A person against whom an order has been made under this section who intends to apply for leave to act as a director or in the management of a company shall give at least twenty-eight days written notice of his intention to the Registrar, and the Registrar, the Official Trustee, and any person on whose application the order was made or who appeared at the hearing at which the order was made, may appear and give evidence and call witnesses and draw the attention of the Court to any relevant matters.

    (7) Where any order is made or leave is granted under this section, the Court making the order or granting leave shall forward a copy to the Registrar who shall cause a summary thereof to be published in the Gazette.

    (8) The Registrar shall maintain a register of orders made under this section and shall enter therein particulars of each order and of any leave granted and such register shall be open to the inspection of any person on payment of one shilling for each inspection.

    (9) If any person acts in contravention of an order made under this section he shall, in respect of each offence, be liable on conviction to imprisonment for a term not exceeding two years or to a fine not exceeding five hundred pounds, or to both such imprisonment and fine.