17817-1910-Supplementary-Bills-read-a-first-time--Companies — Page 24

473

holder of any such bill of exchange, promissory note, cheque, or order for money or goods, for the amount thereof, unless the same is duly paid by the company.

Meetings and Proceedings.

65.-(1) A general meeting of every company shall be Annual held once at the least in every calendar year, and not more general than fifteen months after the holding of the last preceding Edw. 7 c.

meeting. general meeting, and, if not so held, the company and every 69 s. 64. director, manager, secretary, and other officer of the com- pany, who is knowingly a party to the default, shall be liable to a fine not exceeding five hundred dollars,

(2) When default has been made in holding a meeting of the company in accordance with the provisions of this section, the court may, on the appliction of any member of the company call or direct the calling of a general meeting of the company,

of company. Ib. s. 65.

66.-(1) Every company limited by shares and regis- First statu- tered on or after the date of the coming into operation of tory meeting this Ordinance shall, within a period of not less than one month or more than three months from the date at which the company is entitled to commence business, hold a general meeting of the members of the company which shall be called the statutory meeting.

(2) The directors shall, at least seven days before the day on which the meeting is held, forward a report (in this Ordinance called "the statutory report") to every member of the company and to every other person entitled under this Ordinance to receive it.

(3) The statutory report shall be certified by not less than two directors of the company, or, where there are less than two directors, by the sole director and manager, and shall state-

(a) the total number of shares allotted, distinguish- ing shares allotted as fully or partly paid up otherwise than in ca-b, and stating in the case of shares partly paid up the extent to which they are so paid up, and in either case the consideration for which they have been allotted; (b) the total amount of cash received by the com- pany in respect of all the shares allotted, distinguished as aforesaid ;

(c) an abstract of the receipts of the company on account of its capital, whether from shares or debentures, and of the payments made thereout, up to a date within seven days of the date of the report, exhibiting under distinctive head- ings the receipts of the company from shares and debentures and other sources, the payments made thereout, and particulars concerning the balance remaining in hand, and an accomm or estimate of the preliminary expenses of the company;

(d) the names, addresses, and descriptions of the directors, anditors (if any), managers (if any), and secretary of the company; and (e) the particulars of any contract, the modification of which is to be submitted to the meeting for its approval together with the particulars of the modification or proposed modification. (4) The statutory report shall, so far as it relates to the shares allotted by the company, and to the cash received in respect of such shares, and to the receipts and payments of the company on capital account, be certified as correct by the auditors, if any, of the company.

(5) The directors shall cause a copy of the statutory report, certified as by this section required, to be filed with the registrar of companies forthwith after the sending thereof to the members of the company.

(6) The directors shall cause a list showing the names, descriptions, and addresses of the members of the company, and the number of shares held by them respectively, to be produced at the commencement of the meeting, and to remain open and accessible to any member of the company during the continuance of the meeting.