Gill and Tang had approached Ben to be the promoter of the company they intend to form. Ben had agreedto be the promoterbut he is uncertain as to who a promoter is and the function of a promoter. Ben seeks your advice.

Advise Ben on the following matters:

(a) Who is a promoter?[4 marks]

(b) Examine the duties owed by the promoter to the company.[10marks]

(c) The remedies available against the promoter who has acted in breach of his duty.[6 marks]