For the purposes of Section 33 of the Arms Act, 1959, a "director" in relation to a firm means:
The Explanation to s.33 defines director, in relation to a firm, to mean a partner in the firm, so for firms it is the partners, not a managing partner, chief executive, or…
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For the purposes of Section 33 of the Arms Act, 1959, a "director" in relation to a firm means:
Answer and explanation
Correct answer C
The Explanation to s.33 defines director, in relation to a firm, to mean a partner in the firm, so for firms it is the partners, not a managing partner, chief executive, or compliance officer specifically, who are treated as directors for this provision.