(a) In Panorama Development (Guildford) Limited vs. Fidelis Furnishing Fabrics Limited (1971 3 AIIER 16 (CA)) Lord Denning M R stated: 'But times have changed. A company secretary is a much more important person nowadays. He is an officer of the company with extensive duties and responsibilities. This appears also by the role which he plays in the day-to-day business of companies. He is no longer a mere clerk. He regularly makes representation on behalf of the company and enters into contracts on its behalf which come within the day-to-day running of the company's business. So much so that he may be regarded as having authority to do such things on behalf of the company. He is certainly entitled to sign contracts connected with the administrative side of a company's affairs, such as employing staff, ordering cars and so forth. All such matters now come within the ostensible authority of a company's secretary.' Discuss this statement and the legal position of the company secretary in general. 19) (b) Paul, a promoter of Cosmos Limited, sells his farm to the company. He bought the farm before he began acting as a promoter for Cosmos Limited. He omits to disclose that he makes a big profit. Discuss the legal remedies available to Cosmos Limited. What would the legal position be if Paul acquired the property only after he had begun to act as a promoter? (7) [16] Activat Go to Set