Companies Act 2014 section 611

Supplemental provisions in relation to section 610

Section 611 sets out the supplemental powers available to the court when it makes a declaration of personal liability for fraudulent or reckless trading under section 610, including the ability to impose charges on debts and assets, and clarifies the scope and application of section 610.

• The court may give any directions it considers appropriate to give effect to a declaration under section 610, including imposing charges on debts owed by the company to the respondent or on mortgages and charges over company assets held by or on behalf of the respondent.
• The reckless trading provisions in section 610(1)(a) do not apply during any period when the company is under the protection of the court (i.e. in examinership).
• Sections 610 and 611 apply even if the person concerned may also face criminal liability for the same matters, or if the relevant conduct took place outside the State.
• For the purposes of section 610, "officer" includes a statutory auditor, liquidator, provisional liquidator, receiver and shadow director; "assignee" covers anyone to whom a debt, mortgage or charge was directed but excludes a bona fide assignee for valuable consideration given without notice of the grounds for the declaration.