257
for "fifty pounds"
From No.58 of 1911,
5.99A
38
(3) The registrar of companies shall, on the delivery to bim of the said statutory declaration, and, in the ense of a company which is required by this section to deliver a statement in lieu of prospectus, of such a statement, certify that the company is entitled to commence business, and that certificate shall be conclusive evidence that the company is so entitled
(4) Any contract made by a company before the date at which it is entitled to commence business shall be provisional only, and shall not be binding n the company until that date, and on that date it shall become binding.
(5) Nothing in this section shall prevent the simual- taneous offer for subscription or allotment of any shares and debentures or the receipt of any money payable on application for debentures.
(6) If any company commences business or exercises borrowing powers in contravention of this section, every person who is responsible for the contravention shall, without prejudice to any other liability, be liable to a fine not exceeding five hundred dollars for every day during which the contravention continues.
(7) If a company fails to obtain a certificate to commence business within one year of the date of its incorporation, the registrar of companies shall send by registered post to the company at its registered office a letter calling upon the company to apply for the said certificate.
(8) If the company fails to obtain the said certificate within one month of the posting of the said letter, the registrar of companies shall publish in the Gazette a notice to the effect that the company will be struck off the register if it fails to obtain the said certificate within two months after the publication of the said notice.
(9) If the company fails to obtain the said certificate within two months of the publication of the said notice, the registrar of companies shall strike the company off the register and shall publish in the Gazette a notification to the effect that the company has been struck off the register.
(10) Upon the publication in the Gazette of the said notification, the company shall be deemed to be dis solved.
(11) If any company is struck off the register or dissolved under the provisions of this section, the court,
on the application of the company or of any member or creditor thereof may, on any ground which may seem fit to the court, order that the company (he) restored to the register, cither permanently or temporarily, and may make such restoration subject to any condition which may seem fit to the court.
(12) Upon the making of any such order, the com- pany shall be restored to the register and shall, subject to any order which the court may make, be deemed to have continued in existence as if it had not been struck off the register, and the court may give any directions
which may seem necessary in the circumstances.
be
39
(13) If no office of the company has been registered, copies of the letter referred to in sub-section (7) shall be sent by the registrar of companies by registered post to each of the persons who subscribed the memo- rundum of the company at the respective addresses given therein
(14) Nothing in this section shall apply to-
(a) a private company; or
(b) a company registered before the first day of
January, nineteen hundred and twelve,
Frome No. 58 of 171,
S. 81A.
for "one" paragraph (c) omitted.
of
New.
Register of Members, 95.-(1) Every company shall keep in one or more Register books in the English language a register of its mem- members. bera, and enter therein the following particulars: 19 & 20 Geo,
3, c. 23, (a) The names and addresses, and the occupas
tions, if any, of the members, (and in the case of Chinese members their names shall be given both in English and Chinese charac- ters) and in the case of a company having a share capital a statement of the shares held by each member, distinguishing each share by its number. and of the amount paid or agreed to be considered as paid on the shares of each member;
(b) The date at which each person was entered
in the register as a member:
(c) The date at which any person ceased to be t
member:
Provided that, where the company has converted any of its shares into stock and given notice of the conversion to the registrar of companies, the register shall show the amount of stock held by each member instead of the amount of shares and the particulars relating to shares specified in paragraph (a) of this subsection.
(2) If default is made in complying with this sec. tion, the company and every officer of the company who is in default shall be liable to a default fine.
98. (1) Every company having more than fifty Index of members shall, unless the register of members is in members of such a form as to constitute in itself an index, keep company. an index of the names of the members of the company 19 & 20 Geo. and shall, within fourteen days after the date on which 5, c. 23.
8. 96. any alteration is made in the register of members, make any necessary alteration in the index.
(2) The index, which may be in the form of a card index, shall in respect of each member contain a sufficient indication to enable the account of that member in the register to be readily found
(3) If default is made in complying with this sec. tion, the company and every officer of the company who is in default shall be liable to a default fine.
97.-(1) On the issue of a share warrant the com Provisions pany shall strike out of its register of members the as to entries name of the member then entered therein as holding in register the shares specified in the warrant as if he had ceased in relation to be a member, and shall enter in the register the share following particulars, namely:-
(a) The fact of the issue of the warrant;
(b) A statement of the shares included in the warrant, distinguishing each share by its number; and
(c) The date of the issue of the warrant.
(2) The bearer of a share warrant shall, subject to
the articles of the company, be entitled, on surrender- ing it for cancellation, to have his name entered s a member in the register of members.
warrants.
19 & 20 Geo. 5. c. 23.
9. 97,
New