526 SECRETARIAL PRACTICE
the resolution shall for all purposes be treated as having been passed
on the date on which it was in fact passed, and shall not be deemed
to have been passed on any earlier date.

Minutes of 120.—(1) Every company shall cause minutes of all proceedings

proceedings of 7 . )

meetings and Of general meetings, and where there are directors or managers, of

directors. all proceedings at meetings of its directors or of its managers, to be
entered in books kept for that purpose.

(2) Any such minute if purporting to be signed by the chairman
of the meeting at which the proceedings were had, or by the chairman
of the next succeeding meeting, shall be evidence of the proceedings.

(3) Where minutes have been made in accordance with the
provisions of this section of the proceedings at any general meeting
of the company or meeting of directors or managers, then, until
the contrary is proved, the meeting 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, managers, or
liquidators, shall be deemed to be valid.

Inspection of
minute books.

121.—(1) The books containing the minutes of proceedings of
any general meeting of a company held after the commencement
of this Act shall be kept at the registered office of the company,
and shall during business hours (subject to such reasonable restric-
tions as the company may by its articles or in general meeting
impose, so that no less than two 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
seven 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 exceed-
ing sixpence for every hundred 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 fine not exceeding
two pounds and further to a default fine of two pounds.

(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.

Accounts and Audit.
Keepingofbooks ~~ 122,—(1) Every company shall cause to be kept proper books of
oF aon, 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 expendi-
ture takes place;

(b) all sales and purchases of goods by the company;

(c) the assets and liabilities of the company.