Search this Act

Jump directly to a section by number or title.

Section 2(69)

(69) Promoter

“promoter” means a person—

(a)
who has been named as such in a prospectus or is identified by the company in the annual return referred to in section 92; or
(b)
who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise; or
(c)
in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act:
Proviso

Provided that nothing in sub-clause ( c ) shall apply to a person who is acting merely in a professional capacity