118
CAP. 32]
Companies
[1984 Ed.
Inspection of minute books.
1929 c. 23. s. 121.
Keeping of books of
account.
1948 c. 38. s. 147.
(3) Where a company makes default in complying with subsection (1) or makes default for 14 days in complying with subsection (2), the company and every officer of the company who is in default shall be liable to a default fine of $500.
(Added, 6 of 1984, s. 85)
120. (1) The books containing the minutes of proceedings of any general meeting of a company shall during business hours (subject to such reasonable restrictions as the company may by its articles or in general meeting impose, so that no less than 2 hours in each day be allowed for inspection) be open to the inspection of any member without charge.
(2) Any member shall be entitled to be furnished, within 7 days after he has made a request in that behalf to the company, with a copy of any such minutes as aforesaid at a charge not exceeding $1 for every 100 words.
(3) If any inspection required under this section is refused or if any copy required under this section is not sent within the proper time, the company and every officer of the company who is in default shall be liable in respect of each offence to a default fine. (Amended, 22 of 1950, Schedule)
(4) In the case of any such refusal or default, the court may by order compel an immediate inspection of the books in respect of all proceedings of general meetings or direct that the copies required shall be sent to the persons requiring them.
(Amended, 6 of 1984, s. 86)
Accounts and Audit
121. (1) Every company shall cause to be kept proper books of account with respect to-
(a) all sums of money received and expended by the company and the matters in respect of which the receipt and expenditure takes place;
(b) all sales and purchases of goods by the company;
(c) the assets and liabilities of the company.
(2) For the purposes of subsection (1), proper books of account shall not be deemed to be kept with respect to the matters aforesaid if there are not kept such books as are necessary to give a true and fair view of the state of the company's affairs and to explain its transactions.
(3) The books of account shall be kept at the registered office of the company or at such other place as the directors think fit, and shall at all times be open to inspection by the directors:
Provided that if books of account are kept at a place outside Hong Kong there shall be sent to, and kept at a place in, Hong Kong
118
CAP. 32]
Companies
[1984 Ed.
Inspection of minute books.
1929 c. 23. s. 121.
Keeping of books of
account.
1948 c. 38. s. 147.
(3) Where a company makes default in complying with sub- section (1) or makes default for 14 days in complying with subsec- tion (2), the company and every officer of the company who is in default shall be liable to a default fine of $500.
(Added, 6 of 1984, s. 85)
120. (1) The books containing the minutes of proceedings of any general meeting of a company shall during business hours (subject to such reasonable restrictions as the company may by its articles or in general meeting impose, so that no less than 2 hours in each day be allowed for inspection) be open to the inspection of any member without charge.
(2) Any member shall be entitled to be furnished, within 7 days after he has made a request in that behalf to the company, with a copy of any such minutes as aforesaid at a charge not exceeding $1 for every 100 words.
(3) If any inspection required under this section is refused or if any copy required under this section is not sent within the proper time, the company and every officer of the company who is in default shall be liable in respect of each offence to a default
defauit fine. (Amended, 22 of 1950, Schedule)
(4) In the case of any such refusal or default, the court may by order compel an immediate inspection of the books in respect of all proceedings of general meetings or direct that the copies required shall be sent to the persons requiring them.
(Amended, 6 of 1984, s. 86)
Accounts and Audit
121. (1) Every company shall cause to be kept proper books of account with respect to-
(a) all sums of money received and expended by the company and the matters in respect of which the receipt and ex- penditure takes place;
(b) all sales and purchases of goods by the company;
(c) the assets and liabilities of the company.
(2) For the purposes of subsection (1), proper books of account shall not be deemed to be kept with respect to the matters aforesaid if there are not kept such books as are necessary to give a true and fair view of the state of the company's affairs and to explain its transactions.
(3) The books of account shall be kept at the registered office of the company or at such other place as the directors think fit, and shall at all times be open to inspection by the directors:
Provided that if books of account are kept at a place outside Hong Kong there shall be sent to, and kept at a place in, Hong Kong
No comments yet.
Private notes are available after approval.