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Reckless trading (The Sanctions (Purpose of the offence of reckless…
Reckless trading
The officers can be held liable for the debts of the company where it appears that they were knowingly a party to the carrying on of business of the company in a reckless manner
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The Sanctions
Purpose of the offence of reckless trading is to protect the public from unsuitable officers rather than punish the officers
A person held liable in the civil court will be responsible for the debts of the company without limit
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