330 SECRETARIAL PRACTICE

S. 123. Failure to appoint an auditor at an annual
general meeting enables any shareholder to
apply to the Secretary of State to so appoint and
to fix his remuneration. No auditor of any
company or any partner or associate with that
auditor shall be capable of being appointed a
director or officer of a company.
ves to the holders of preference shares and deben-
tures, the same right to receive and inspect the
balance sheets of a company and the auditors’
report, as is possessed by the holders of ordinary
shares in the company. -
annual meeting shall be held at such time and
place in each year as the special Act, letters
patent or by-laws provide, and in default of such
provisions an annual meeting shall be held at the
chief place of business of the company on the
fourth Wednesday in January in every year.

S. 137. Every company having a share capital, shall, on
or before the 1st of June in every year, make a
summary, made up to the 31st March preceding,
and file it in duplicate in the department of the
Secretary of State on or before the 1st June.
Each copy must be signed by the president and
manager, but if these two are the same person,
then by the president and secretary, and both
shall be duly verified by their affidavits.

Part II of the Act (ss. 152-206) deals with companies incor-
porated after 22nd June, 1869, by special Act of Parliament and
corresponds to the English Companies Clauses Act of 1845.

Ss. 157-163 deal with directors of whom these may be as many
as nine, but not less than three.

S. 184 enacts that in the absence of other provisions in the
special Act or the by-laws of the company, notice of the time and
place for holding general meetings of the company shall be given
at least ten days before in a newspaper circulating in the district
which is the chief place of business of the company.

S. 185. In the absence of other provisions, every shareholder
shall be entitled to as many votes at all general meetings as he
owns shares in the company.

S. 197. Prohibits the loan by any company of its funds to any
shareholder.

S. 125. Gi

Part IIT (ss. 207-211) applies to British and foreign mining
companies, and enacts that any joint stock company or corpora-
don duly incorporated under the laws of Great Britain or under
the laws of any foreign country for the purpose of carrying on
mining operations, may on receiving a license from the Secretary
of State, carry on mining operations in the provinces of Saskatche-
wan and Alberta, the North-West Territories and the Vukon