2042
[cf. s. 122A and Fifth Schedule.]
[cf. s. 122A and Fifth Schedule.]
[cf. s. 122A and Fifth Schedule.]
Form of contracts. 8 Edw. 7, c. 69, s. 76.
No. 58 of 1911.
COMPANIES
any right of inspecting any account or book or document of the company except as conferred by Ordinance or authorised by the directors or by the company in general meeting.
(4) Once at least in every year the directors shall lay before the company in general meeting a profit and loss account for the period since the preceding account or (in the case of the first account) since the incorporation of the company, made up to a date not more than six months before such meeting.
(5) A balance sheet shall be made out in every year and laid before the company in general meeting made up to a date not more than six months before such meeting. The balance sheet shall be accompanied by a report of the directors as to the state of the company's affairs, and the amount which they recommend to be paid by way of dividend, and the amount, if any, which they propose to carry to a reserve fund.
(6) A copy of the balance sheet and report shall, seven days previously to the meeting, be sent to the persons entitled to receive notices of general meetings in the manner in which notices are required to be served under the provisions of this Ordinance.
(7) If default is made in compliance with any of the provisions of this section, every director of the company who knowingly and wilfully authorises or permits the default shall be liable to a fine not exceeding five hundred dollars.
(8) Sub-sections (4), (5) and (6) shall not apply to private companies.
Contracts, etc.
78.-(1) Contracts on behalf of a company may be made as follows:-
(i) any contract which if made between private persons would be by law required to be in writing under seal, may be made on behalf of the company, in writing under the common seal of the company, and may in the same manner be varied or discharged;
(ii) any contract which if made between private persons would be by law required to be in writing, signed by the parties to be charged therewith, may be made on behalf of the company in writing signed by any person acting under its authority, express or implied, and may in the same manner be varied or discharged;
2042
[cf. s. 122A and Fifth Schedule.]
¡ef. s. 122A and Fifth Schedule.]
[cf. s. 122A and Fifth Schedule.j
Form of
contracts. 8 Edw. 7, c. 69, s. 76.
No. 58 of 1911.
COMPANIES.
any right of inspecting any account or book or document of the company except as conferred by Ordinance or authorised by the directors or by the company in general meeting.
(4) Once at least in every year the directors shall lay before the company in general meeting a profit and loss account for the period since the preceding account or (in the case of the first account) since the incorporation of the company, made up to a date not more than six months before such meeting.
(5) A balance sheet shall be made out in every year and laid before the company in general meeting made up to a date not more than six months before such meeting. The balance sheet shall be accompanied by a report of the directors as to the state of the company's affairs, and the amount which they recommend to be paid by way of dividend, and the amount, if any, which they propose to carry to a reserve fund.
(6) A copy of the balance sheet and report shall, seven days previously to the meeting, be sent to the persons entitled to receive notices of general meetings in the manner in which notices are required to be served under the provisions of this Ordinance.
(7) If default is made in compliance with any of the provisions of this section, every director of the company who knowingly and wilfully authorises or permits the default shall be liable to a fine not exceeding five hundred dollars.
(8) Sub-sections (4), (5) and (6) shall not apply to private companies.
Contracts, de.
78.-(1) Contracts on behalf of a company may be made as follows:-
(i) any contract which if made between private persons would be by law required to be in writing under seal, may be made on behalf of the company, in writing under the common seal of the company, and may in the same manner be varied or discharged;
(ii) any contract which if made between private persons would be by law required to be in writing, signed by the parties to be charged therewith, may be made on behalf of the company in writing signed by any person acting under its authority, express or implied, and may in the same manner be varied or discharged ;
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