KASNEB CS21 Practice Questions - KASNEB Certified Secretaries (CS) Intermediate - Company Law (CS21) Exam

What is the doctrine of 'lifting the corporate veil' under Kenyan company law?

Courts may disregard separate personality where the company is used to perpetrate fraud or evade legal obligations Members automatically lose limited liability when a company makes losses The veil is lifted whenever a company has only one member Directors are never personally liable for company acts

Correct Answer:

Courts may disregard separate personality where the company is used to perpetrate fraud or evade legal obligations

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