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Register of Members of Company

balance, directors and sheet

REGISTER OF MEMBERS OF COMPANY.) The articles of association of a company usually contain regulations regarding the balance sheet, but in companies which are governed by Table A. (see Section 11 under .ARTICLES of .AssociATiox) the following regu lations apply : " 106. 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.

" 107. 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.

" 10S. 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 to be given hereunder."

Holders of preference shares and deben tures have the same right to receive and inspect the balance sheets of the company as is possessed by the holders of the ordinary shares. (See Section 114 of the above mentioned Act, under AUDITORS.) In the case of a banking company regis tered after August 15. 1879. the balance sheet must be signed by the secretary or manager, and where there are more than three directors of the company by at least three of those directors, and where there are not more than three directors by all the directors (Section 113. s.s. 5).

Every limited banking company must, on the first Monday in February and the first Tuesday in August in every year. make a statement of its capital, liabilities and assets in a prescribed form, and display a copy in its registered office and in every branch or place of business (Section 108). (See