Rights of
854
(a) whether or not they have obtained all the inform-
ation and explanations they have required; and
(b) whether, in their opinion, the balance sheet referred to in the report is properly drawn up so as to exhibit a true and correct view of the state of the company's affairs according to the best of their information and the explanations given to them, and as shown by the books of the company.
(3) The balance sheet shall be signed on behalf of the board by two of the directors of the company, or if there is only one director, by that director, and the auditors' report shall be attached to the balance sheet, or there shall be inserted at the foot of the balance sheet a reference to the report, and the report shall be read before the company in general meeting, and shall be open to inspection by any shareholder.
Any shareholder shall be entitled to be furnished with a copy of the balance sheet and auditors' report at a charge not exceeding twenty-five cents for every hundred words.
(4) If any copy of a balance sheet which has not been signed as required by this section is issued, eirculated, or published, or if any ecpy of a balance sheet is issued, vir- culated, or published without either having a copy of the auditors' report attacked thereto or containing such reference to that report as is required by this section, the company, and every director, manager, secretary, or other officer of the company who is knowingly a party to the default, shall on conviction be liable to a fine not exceeling five hundred dollars.
(5) In the case of a banking company -
(a) if the company has branch banks beyond the limits of the Colony it shall be sufficient if the anditor is allowed access to such copies of and extracts from the books and accounts of any such branch as have been transmitted to the office of the company in the Colony; and (b) the balance sheet must be signed by the secre- tary or manager (if any), and where there are more than three directors of the company by at least three of those directors, and where there are not more than three directors by all the directors,
115.-(1) Holders of preference shares and debentures preference of a company shall have the same right to receive and shareholders, in peet the balance sheets of the company and the reports of the auditors and other reports as is possessed by the holders of ordinary shares in the company.
&c. as to
receipt and
inspection of
reports, &c.
8 Edw. 7 e. 69 s. 114.
Prohibition
of carrying on business with fewer
than seven or, in the case of a
private com- pany, two members. Db. s. 115.
Nervice of documents on company
Ib. s. 116.
Authentica- tion of documents. Ib. s. 117.
(2) This section shall not apply to a private company, nor to a company registered before the date of the coming iuto operation of this Ordinance.
Currying on Business with less than the legal Minimum of Members,
116. If at any time the number of members of a com- pany is reduced, in the case of a private company, below two, or, in the case of any other company, below seven, and it carries on business for more than six months while the number is so reduced, every person who is a member of the company during the time that it so earries on business after those six mouths, and is cognisant of the fact that it is carrying on business with fewer than two members, or seven members, as the case may be, shall be severally liable for the payment of the whole debts of the company con- tracted during that time, and may be sued for the same, without joinder in the action of any other member.
Service and Authentication of Dacuments.
117. A document may be served on a company by leav ing it at or sending it by registered post to the registered office of the company,
118. A document or proceeding requiring authentica- tion by a company may be signed by a director, secretary, or other anthorised officer of the company, and need not be under its common seal.
ty
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