V
468
respect of which "default" has been madz
shall be guilty of
ffruce and
for
au
Every
ulien
not exceeding
Jay
Jung
ļ
men offence
Continues
registrar of companies at Shanghai a ·
return signed by the auditor of the
company giving particulars of the shares
issued, of the amounts paid thereon, of
in/payment
the shares in/payment of sums due on-
which default has been made, and of the
shares forfeited.
(4) If shares are issued by a China
Company on terms which fail to comply
with the provisions of this Article, or
if other default is made in complying
therewith, the company and every direc-
tor, manager, secretary and other officer,
who is knowingly a party to such issue
or default, shall be liable to a fine of
500 dollars
(5) Where on application made it
is established to the satisfaction of
the court that there has been a failure
to comply with the provisions of this
article through inadvertence or acciden-
tal