1974-HKRS28-16-22_Part06 — Page 8

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some of whom are not entitled to receive such notices, to those who are not so entitled: and

(c) if the copies of the documents aforesaid are seat less than fourteen days before the date of the meeting, they shall, notwithstanding that fact, be deemed to have been duly sent if it is so agreed by all the members entitled to attend and vote at the meeting.

(2) Any member of a company, whether he is or is not entitled to have sent to him copies of the company's balance sheets, the personal representatives of any such member who has died, and any holder of debentures of the company, whether he is or is not so entitled, shall be entitled to be furnished on demand without charge with a copy of the last balance sheet of the company, including every document required by law to be annexed thereto, together with a copy of the directors' report and a copy of the auditors" report

(3) If default is made in complying with sub- section (1), the company and every officer of the company who is in default shall be liable to a fine of two hundred dollars, and if, when any person makes a demand for any document with which he is by virtue of subsection (2) entitled to be furnished, default is made in complying with the demand within seven days after the making thereof, the company and every officer of the company who is in default shall be liable to a default fine, unless it is proved that that person has already made a demand for and been furnished with a copy of the document.

(4) Subsections (1), (2) and (3) shall not have effect in relation to a balance sheet of a private com- pany laid before it before 1st October 1975, but the provisions of this Ordinance which were in force immediately before the said date shall apply in rela- tion to-

(a) the right of any person to be furnished with

a copy of any such balance sheet, and

(5) the liability of the company and any officer thereof in respect of a failure to satisfy that right.".

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13. Section 141 of the principal Ordinance is repealed and Repeal of the following new sections substituted therefor-

"Auditors' report and rights of access to books and to attend and be heard at meetings. 1967 c. 8.

14.

T'ecub Sebedukc

section 141 and sub- stitution of

141. (1) The auditors of a company shall make sections 141

a report to the members on the accounts examined by to 141D. them, and on every balance sheet, every profit and loss account and all group accounts laid before the company in general meeting during their tenure of office.

(2) The auditors' report shall be read before the company in general meeting and shall be open to inspection by any member.

(3) The report sħall-

(a)

except in the case of a company that is entitled to avail itself, and has availed itself, of the benefit of any of the provi- sions of Part III of the Tenth Schedule, state whether in the auditors' opinion the company's balance sheet and profit and loss account and (if it is a holding company sub- mitting group accounts) the group accounts have been properly prepared in accordance with the provisions of this Ordinance and whether in their opinion a true and fair view is given-

in the case of the balance sheet, of the state of the company's affairs as at the end of its financial year;

(i) in the case of the profit and loss account (if it is not framed as a consolidated profit and loss account), of the company's profit or loss for its financial year;

(iii) in the case of group accounts sub- mitted by a holding company, of the state of affairs and profit or loss of the company and its subsidiaries dealt with thereby, so far as concerns members of the company;

(b) in the said excepted case, state whether in the auditors' opinion the company's balance sheet and profit and loss account and (if it is a holding company submitting group accounts) the group accounts have been