Amendment
of Fifth Schedule.
Amendment of Ninth Schedula.
44
(iv) in article 59.
(A) by inserting after "authorized to" the follow-
ing-
"(c)"; and
(B) by inserting after "to them" the following
" and (b) the auditors for the time being of the company"",
20. The Fifth Schedule to the principal Ordinance is amended by deleting the heading "Copy of last audited Balance Sheet of the Company" and of the paragraph thereunder beginning "NOTE", and substituting for such beading and paragraph the following new heading and paragraph-
"Certified copies of Accounts
Except where the company is a private company within the meaning of section 29 of the Companies Ordinance, there must be annexed to this return a written copy, certified by a director or by the manager or secretary of the company to be a true copy, of every balance sheet laid before the company in general meeting during the period to which this return relates (including every document required by law to be anocaed to the balance sheel) and a copy (certified as aforesaid) of the report of the auditors on, and of the report of the directors accompanying, cach such balance sheet. If any such balance sheet or document required by law to be annexed thereto or any such report is not fo the English language there must also be annexed to that balance shoot a translation in English of the balance sheet, document or report certified in the pre- scribed manner to be a correct translation. If any such balance sheet as aforesaid or document required by law to be xanexed thereto did not comply with the requirements of the law as in force at the date of the audit with respect to the form of balance sheets or documents aforesaid, as the case may be, there must be made such additions to and corrections in the copy as would have been required to be made in the balance sheel or document in order to make it comply with the said requirements, and the fact that the copy has been so amended must be stated thereon.".
21. The Ninth Schedule to the principal Ordinance is amended--
(a) by deleting “141(1) and (2)" and substituting the follow-
ing-
"141(1) and ($); and
(b) by deleting "Balance sheet of company carrying on business in the Colony:" in the second column opposite
to "336" and substituting the following-
마
'Accounts of company to which Part XI applies;”.
45
22. The principal Ordinance is amended by adding after the Addition of Ninth Schedule the following new Schedules-
"TENTH SCHEDULE
ACCOUNTS
Preliminary
1. Paragraphs 2 to 12 apply to the balance sheet and 13 to 17 to the profit and loss account, and are subject to the exceptions and modi- fications provided for by Part II in the case of a holding or subsidiary company and by Part III in the case of companies of the classes there mentioned; and this Schedule has effect in addition to the provisions of sections 161 to 161C of this Ordinance.
PART I
GENERAL PROVISIONS AS TO BALANCE SHEET AND Profit and Loss Account
Balance Sheet
The authorised share capital. issued share capital. liabilities and assets shall be summarised, with such particulars as are necessary to disclose the general nature of the assets and liabilities, and there shall be specified-
[a] any part of the issued capital that consists of redeemable preference shares, the earliest and latest dates on which the company has power to redeem those shares, whether those shares must be redeemed in any event or are liable to be redeemed al the option of the company and whether any (and, if so, what) premium is payable on redemption;
(b) so far as the information is not given in the profit and losa account, any share capital on which interest has been paid out of capital during the financial year, and the rate at which interest has been so paid;
(c) the amount of the share premium account;
(d) particulars of any redeemed debentures which the company bas
power to reissue.
3.
There shall be stated under separate headings, so far as they are not written of...
(a) the preliminary expenses;
(b) any expenses incurred in connexion with any issue of share
capital or debentures;
(c) any sums paid by way of commission in respect of any shares
or debentures;
(d) any sums allowed by way of discount in respect of any
debentures; and
(e) the amount of the discount allowed on any issue of shares at
a discount.
new Tenth and Eleventh Schedules.