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discovered that there was some defect in the appointment of any such directors or persons acting as aforesaid, or that they or any of them were disqualified, be as valid as
if every such person had been duly appointed and was qualified to be a director.
Dividends and Reserve,
95. The company in general meeting may declare dividends, but no dividend shall exceed the amount recom- mended by the directors,
96. The directors may from time to time pay to the members such interim dividends as appear to be justified hy the profits of the company.
97. No dividend shall be paid otherwise than out of profits.
98. Subject to the rights of persons, if any, entitled to shares with special rights as to dividends, all dividends shall be declared and paid according to the amounts paid on the shares, but if and so long as nothing is paid up on any of the shares in the company dividends may be declared and paid according to the amounts of the shares. No amonut paid on a share in advance of calle shall, while carrying interest, be treated for the purpose of this article as paid on the share.
99. The directors may, before recommending any divi- dend, set aside out of the profits of the company such sams as they think proper as a reserve or reserves which shall, at the discretion of the directors, be applicable for meeting contingencies, or for equalising dividends, or for any other purpose to which the profits of the company may be properly applied, and pending such application may, at ibe like discretion, either be employed in the business of the company or be invested in such investments (other than shares of the company) as the directors may from time to time think fit.
100. If several persons are registered as joint holders
of any share any one of them may give effectual receipts
for any dividend payable on the share.
101. Notice of any dividend that may have been declared shall be given in manner hereinafter mentioned to the persons entitled to share therein.
102. No dividend shall bear interest against the company.
Audit.
108. Auditors shall be appointed and their duties regn- lated in accordance with sections one hundred and thirteen and one haired and fourteen of the Companies Ordinance, 1911, or any statutory modification thereof for the time being in force.
Notices.
104. A notice may be given by the company to any member either personally or by sending it by post to him to his registered address, or (if he has no registered address in the place where the company has its bend office) to the address, if any, in the place where the company has its bead office, supplied by him to the company for the giving of notices to hit,
Where a sotice is sent hy pust, service of the notice shall be deemed to be effected by properly addressing, pre- paying, and posting a letter containing the notice, nud unless the contrary is proved to have been effected at the time at which the letter would be delivered in the ordinary course of post.
105. If a member has no registerel address in the place where the company has its head office and has not supplied to the company an address in the place where the company has its head office for the giving of notices to him, a notice addressed to him und advertised in a news- paper circulating in the neighbourhood of the registered office of the company, shall be deemed to be duly given to him on the day on which the advertisement appears.
Sections 224 and 237.
95
106. A notice may be given by the company to the joint holders of a share by giving the notice to the joint holder named first in the register in respect of the share.
107. A nodec may be given by the company to the persons entitled to a share in consequence of the death or bankruptcy of a member by sending it through the post in
a prepaid letter addressed to them by name, or by the title of representatives of the deceased, or trustee of the bank- rupt or by any like description, at the address, if any, in the place where the company has its head office supplied for the purpose by the persons claiming to be so entitled,
or (until such an address has been so supplied) by giving the notice in any manner in which the same night have been given if the death or bankruptcy had not occurred.
108. Notice of every general meeting shall be given ís some manner hereinbefore authorised to (a) every member of the company (including benrere of share warrants) except those members who (having no registered address in the place where the company has its head office) have not supplied to the company an address in the place where the company has its head office for the giving of notices to them, and also to (b) every person entitled to a share in consequence of the death or bankruptcy of a member, who, but for his death or bankruptcy, would be entitled to receive notice of the meeting. No other persons shall be entitled to receive notices of general meetings.
TABLE B.
TABLE OF FEES to be paid to the REGISTRAR of COMPANIES.
1.-By a company having a share capital.
For registration of a company whose nominal share
capital does not exneed $10,000 ........
For registration of a company whose nominal share capital exceeds $10,000′ the above fee of $50 with the following additional fees, regulated according to the amount of nominal shares capital (that is to say) :-
50.00
For every $3,000 of nominal shure capital, or part of 85,000 up to $25,000 For every $10,000 of nominal share eapital, or part of $10,000 after the first $25,000 up to $500,000 For every $10,000 of wominal share capital, or part of $10,000 after the drst $500,000...
10.00
3.00
.50
For registration of any increase of share capital made after the first registration of the com- paoy, the same fres per $10,000 or part of a $10,000 as would have been payable if the increased shuure cupitul had formed part of the original share capital at the time of registra- tion:
Provided that no company shall be liable to pay in respect of nominal share capital, on registru- tion or afterwards, any greater amount of fees than $300, taking into account in the ease of fees payable on an increase of share capital after registration the fees paid on registration. For registration of any existing company, except sneh companies us are by this Ordinance ex- empted from payment of fees in respect of registration under this Ordinance the same fee as is charged for registering a new company. For registering any document by this Ordinance required or authorised to be registered, other than the memorandom or the abstract required to be filed with the registrar by a receiver or manager or the statement required to be sent to the registrar by the liquidator in a winding-
Up
3.00
348
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