Section Text
49) 49. Words " managing agent secretaries and treasurers" omitted by the Companies (Amendment) Act 2000 w.e.f. 13/12/2000 [***] or manager, whether past or present, whose liability is, under the provisions of this Act, unlimited, shall, in addition to his liability, if any, to contribute as an ordinary member, be liable to make a further contribution as if he were, at the commencement of the winding up, a member of an unlimited company
Provided that-
(a) a past director 3 (49) 49. Words " managing agent secretaries and treasurers" omitted by the Companies (Amendment) Act 2000 w.e.f. 13/12/2000 [***] or manager shall not be liable to make such further contribution, if he has ceased to hold office for a year or upwards before the commencement of the winding up, (b) a past director 3 (49) 49. Words " managing agent secretaries and treasurers" omitted by the Companies (Amendment) Act 2000 w.e.f. 13/12/2000 [***] or manager shall not be liable to make such further contnbution in respect of any debt or liability of the company contracted after he ceased to hold office, (c) subject to the articles of the company, a director 3 (49) 49. Words " managing agent secretaries and treasurers" omitted by the Companies (Amendment) Act 2000 w.e.f. 13/12/2000 [***] or manager shall not be liable to make such further contribution, unless the Court deems it necessary to require the contnbution m order to satisfy the debts and liabilities of the company and the costs, charges and expenses of the winding up