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Company

Company [fr. compagnia, Ital., which word is still printed on Bank of England notes as 'compa'], a body of persons associated for purposes of busi-ness, sometimes, but not now so frequently as some years ago, styled a Joint Stock Company.A company has its origin either (1) in a charter, as the Bank of England and many insurance companies; or (2) in a special Act of Parliament, with which, as authorizing an undertaking of a public nature such as a railway, the Companies Clauses Consolidation Act, 1845 (8 & 9 Vict. c. 16), is necessarily incorporated; or (3) in registration under the Companies Acts, 1862 and subsequent Acts, now consolidated into the (English) Companies Act, 1925 (19 & 20 Geo. 5, c. 23).By s. 13 of the Act of 1925 (1) on the registration of the memorandum of a company the registrar shall certify under his hand that the company is incorporated and, in the case of a limited company, that the company is limited. (2) From the date of incorporation mentioned in the certificat...


insider (of an individual debtor)

insider (of an individual debtor) Any relative of the debtor or of a general partner of the debtor; partnership in which the debtor is a general partner; general partner of the debtor; or a corporation of which the debtor is a director, officer, or person in control. Source: Administrative Office of the U.S. Courts ...


Audit

Audit, an examining of accounts. An audit may be either detailed or administrative, and is usually both. A detailed audit is a comparison of vouchers with entries of payment, in order that the party whose accounts are audited may not debit his employer with payments not in fact made. An administrative audit is a comparison of payments with authorities to pay, in order that the party whose accounts are audited may not debit his employer with payments not authorised. If in either branch of audit an improper entry is discovered, the auditor surcharges the party whose accounts are audited; whereby the payment must be made by such party out of his own pocket. Where no fraud is suspected, however, and when there has been no negligence, it is common for the surcharge to be remitted [see, e.g., (English) Local Government Act, 18 (23 & 24 Geo. 5, c. 51), s. 230], especially where the party whose accounts are audited has given his service gratuitously.The public accounts are audited under the (E...


Negligence

Negligence, acting carelessly, a question of law or fact or of mixed fact and law, depending entirely upon the nature of a duty, which the person charged with negligence has failed to comply with or perform in the particular circumstance of each case. A very convenient classification has been formulated corresponding to the degree of negligence entailing liability measured by the degree of care undertaken or required in each case, i.e., (1) ordinary, which is the want of ordinary diligence; (2) slight, the want of great diligence; and (3) gross, the want of slight diligence. A smaller degree of negligence will render a person liable for injury to infants than in the case of adults, see Cooke v. Midland Great Western Railway, 1909 AC 229; and Glasgow Corporation v. Taylor, (1922) 1 AC 44. There is also a peculiar duty to take precaution in the case of dangerous Articles, see Dominion Natural Gas Co. v. Collins, 1909 AC 640. This case should be distinguished from the principle in Fletche...


subsidiary

subsidiary pl: -ar·ies : a company having the majority of its stock owned by another company compare affiliate NOTE: The parent company of a subsidiary generally has the same policy-making powers as any majority owner and can do such things as appoint directors and hire officers. The subsidiary is controlled by the parent through these powers, and the parent may be held liable for the acts of the subsidiary if the subsidiary is found to be an instrumentality of the parent. subsidiary adj ...


Diary

Diary, The expression 'diary' referred to in s. 167(1) of the Criminal Procedure Code is the special diary mentioned in s. 167(2) which should contain full and unabridged statements of persons examined by the police so as to give the Magistrates on a perusal of the said diary, a satisfactory and complete source of information which would enable him to decide whether or not the accused person should be detained in custody but it is different from the general diary maintained under s. 44 of the Police Act, Directorate of Enforcement v. Deepak Mahajan, (1994) 3 SCC 440: AIR 1994 SC 1775.Entries in a diary, reflecting the date of payment. If the date of payment does not correspond with the date in the concerned page of the diary the entry cannot be said to be made, in a diary maintained by the concerned person, P. Prabhakara Rao v. P. Krishna, AIR 2007 AP 163....


Minutes of a company

Minutes of a company must be kept of all general meetings and meetings of the directors or managers in a book which is open to inspection by the members (Companies Act, 1929, ss. 120 and 121). The minutes are evidence, but neither conclusive nor exclusive, Re Fireproof Doors Ltd., (1916) 2 Ch 142....


So far as may be

So far as may be, the expression 'so far as may be' has always been construed to mean that those provisions may be generally followed to the extent possible, Dr. Partap Singh v. Director of Enforcement, AIR 1985 SC 989 (993): (1985) 3 SCC 72: (1985) 3 SCR 969....


Criminal Appeal Act, 1907 (English)

Criminal Appeal Act, 1907 (English) (7 Edw. 7, c. 23), came into force on the 19th April, 1908. For a great number of years the merits and demerits of criminal appeal have been discussed in this country.In 1844 Sir Fitzroy Kelly, in a remarkable speech in the House of Commons, advocated criminal appeal, the claim to which has also been recognized by Starkie, Sir John Holker, and Chief Baron Pollock; and even Blackstone,with whom, as Mr. Lecky has observed, admiration of our national jurisprudence was almost a foible, passed some severe criticisms on the stateof the criminal law of his day. In more recent times Lord James of Hereford (then Sir Henry James) introduced a criminal appeal bill into the House of Commons,which was supported by Lord Russell of Killowen (then Sir Charles Russell). And in 1889 Lord Fitzgerald, when introducing a measure into the House of Lords, said that the absene of any provision for rectifying errors andmistakes in criminal cases constituted a blot upon the c...


Public prosecutor

Public prosecutor, means a Public Prosecutor or an Additional Public Prosecutor or a Special Public Prosecutor appointed under s. 28 and includes any person acting under the directions of the Public Prosecutor. [Prevention of Terrorism Act, 2002 (15 of 2002), s. 2(1)(e)]Means any person appointed under s. 24, and includes any person acting under the directions of a Public Prosecutor. [ Code of Criminal Procedure, 1973 (2 of 1974), s. 2 (u)]The 'Public Prosecutor' is the counsel for the government for conducting prosecution on behalf of the State Government or the Central Govern-ment as the case may be. He is an officer and like every advocate practicing before court, he owes an obligation to the court to be fair and just, Sheonandan Paswan v. State of Bihar, AIR 1987 SC 877: (1987) 1 SCC 288: (1987) 1 SCR 702.The King, in whose name criminal are prosecuted, because all offences are said to be against the King's peace, his Crown and dignity. By the (English) Prosecution of Offences Act,...



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