COMPANIES.
No. 58 of 1911.
2109
man of the next succeeding meeting, shall be evidence of the proceedings.
(3) Until the contrary is proved, every general meeting of the company or meeting of directors in respect of the proceedings whereof minutes have been so made shall be deemed to have been duly held and convened, and all proceedings had thereat to have been duly had, and all appointments of directors, or liquidators, shall be deemed to be valid.
on appoint-ment or advertise-ment of
Appointment, Qualification, and Duties, &c., of Directors.
73.—(1) A person shall not be capable of being appointed director of a company by the articles, and shall not be named as a director or proposed director of a company in any prospectus issued by or on behalf of the company, or in any statement in lieu of prospectus filed by or on behalf of a company, unless, before the registration of the articles or the publication of the prospectus, or the filing of the statement in lieu of prospectus, as the case may be, he has by himself or by his agent authorised in writing—
(i) signed and filed with the Registrar of Companies a consent in writing to act as such director; and
(ii) either signed the memorandum for a number of shares not less than his qualification (if any), or signed and filed with the Registrar a contract in writing to take from the company and pay for his qualification shares (if any).
(2) On the application for registration of the memorandum and articles of a company the applicant shall deliver to the Registrar a list of the persons who have consented to be directors of the company, and, if this list contains the name of any person who has not so consented, the applicant shall be liable to a fine not exceeding 500 dollars.
(3) This section shall not apply to a private company nor to a prospectus issued by or on behalf of a company after the expiration of one year from the date at which the company is entitled to commence business.
74. (1) Without prejudice to the restrictions imposed by the last section, it shall be the duty of every director who is by the regulations of the company required to hold a specified share qualification, and who is not already qualified, to obtain his qualification
* As amended by No. 43 of 1912 Supp. Sched.
8 Edw. 7 c. 69 s. 72.
Qualifications
b. s. 73.
of director
*
Page 35
Page 36
COMPANIES.
No. 58 of 1911.
2109
man of the next succeeding meeting, shall be evidence of the pro- ceedings.
(3) Until the contrary is proved, every general meeting of the company or meeting of directors in respect of the proceedings whereof minutes have been so made shall be deemed to have been duly held and convened, and all proceedings had thereat to have been duly had, and all appointments of directors, or liquidators, shall be deemed to be valid.
on appoint- ment or advertise-
ment of
Appointment, Qualification, and Duties, &c., of Directors. 73.—(1) A person shall not be capable of being appointed director Restrictions of a company by the articles, and shall not be named as a director or proposed director of a company in any prospectus issued by or on behalf of the company, or in any statement in lieu of prospectus directors. filed by or on behalf of a company, unless, before the registration of the articles or the publication of the prospectus, or the filing of the statement in lieu of prospectus, as the case may be, he has by him- self or by his agent authorised in writing-
(i) signed and filed with the Registrar of Companies a consent in writing to act as such director; and
(ii) either signed the memorandum for a number of shares not less than his qualification (if any), or signed and filed with the Registrar a contract in writing to take from the company and pay for his qualification shares (if any).
(2) On the application for registration of the memorandum and articles of a company the applicant shall deliver to the Registrar a list of the persons who have consented to be directors of the com- pany, and, if this list contains the name of any person who has not so consented, the applicant shall be liable to a fine not exceeding 500 dollars.
(3) This section shall not apply to a private company nor to a prospectus issued by or on behalf of a company after the expiration of one year from the date at which the company is entitled to commence business.
74. (1) Without prejudice to the restrictions imposed by the last section, it shall be the duty of every director who is by the regulations of the company required to hold a specified share quali- fication, and who is not already qualified, to obtain his qualification
* As amended by No. 43 of 1912 Supp. Sched.
8 Edw. 7 c. 69 s. 72.
Qualifications
b. s. 73.
of director
*
Page 35Page 36
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