Power of
company to appoint inspectors.
19 & 20 Geo. 5, c. 23, s. 137.
Report of inspectors to be evidence.
19 & 20 Geo.
5, c. 23, s. 138.
Number of directors.
19 & 20 Geo. 5, c. 23,
s. 139.
Restrictions
on appoint-
ment or advertise- ment of director.
19 & 20 Geo. 5, c. 23, s. 140.
1586
(b) In any other case the expenses shall be defrayed by the company unless the court thinks proper to direct, as the court is hereby authorised to do, that they shall either ne paid by the applicants or in part by the com- pany and in part by the applicants:
Provided that-
(i) if the company fails to pay the whole or any part of the sum which it is liable to pay under this subsection, the applicants shall make good the deficiency up to the amount by which the security given by them under the last preceding section exceeds the amount, if any, which they have under this subsection been directed by the court to pay: and
(ii) any balance of the expenses not defraved either by the company or the ap- plicants shall be defrayed by the revenues of the Colony.
136.-(1) A company may by special resolution appoint inspectors to investigate its affairs.
(2) Inspectors so appointed shall have the same powers and duties as inspectors appointed by the court, except that, instead of reporting to the court, they shall report in such manner and to such persons as the company in general meeting may direct.
(3) If any officer or agent of the company refuses to produce to the inspectors any book or document which it is his duty under this section so to produce, or refuses to answer any question which is put to him by the inspectors with respect to the affairs of the company, he shall be liable to be proceeded against in the same manner as if the inspectors had been inspectors appointed by the court.
137. A copy of the report of any inspectors appointed under this Ordinance, authenticated by the seal of the company
whose affairs they have investigated, shall be admissible in any legal pro- ceeding as evidence of the opinion of the inspectors in relation to any matter contained in the report.
Directors and Managers.
138.--(1) Every company registered after the com. mencement of this Ordinance shall have at least two directors.
(2) This section shall not apply to a private com-
pany.
139.-(1) A person shall not be capable of being appointed director of a company by the articles, and shall not be named as a director or proposed director of a company in a prospectus issued by or on behalf of the company, or as proposed director of an intended company in a prospectus issued in relation to that intended company, or in a statement in lieu of prospectus delivered to the registrar by or on behalf of a company, unless, before the registration of the articles or the publication of the prospectus, or the delivery of the statement in lieu of prospectus, as the case may be, he has by himself or by his agent authorised in writing-
(a) signed and delivered to the registrar of com- panies for registration a consent in writing to act as such director; and
&
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