COMPANIES ACT, 1929

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(3) The registrar of companies shall, on the delivery to him
of the said statutory declaration, and, in the case of a company
which is required by this section to deliver a statement in lieu of
prospectus, of such a statement, certify that the company is entitled
to commence business, and that certificate shall be conclusive evi-
dence that the company is so entitled.

4) Any contract made by a company before the date at which
it is entitled to commence business shall be provisional only, and
shall not be binding on the company until that date, and on that
date it shall become binding.

(5) Nothing in this section shall prevent the simultaneous
offer for subscription or allotment of any shares and debentures or
the receipt of any money payable on application for debentures.

(6) If any company commences business or exercises borrowing
powers in contravention of this section, every person who is respon-
sible for the contravention shall, without prejudice to any other
liability, be liable to a fine not exceeding fifty pounds for every
day during which the contravention continues.

(7) Nothing in this section shall apply to

a) a private company; or

b) a company registered before the first day of January,

nineteen hundred and one; or

a company registered before the first day of July, nineteen
hundred and eight, which has not issued a prospectus
inviting the public to subscribe for its shares.

Register of Members.
95.—(1) Every company shall keep in one or more books a Register of
register of its members, and enter therein the following particulars :— members.
‘a) The names and addresses, and the occupations, if any,
of the members, and in the case of a company having a
share capital a statement of the shares held by each member,
distinguishing each share by its number, and of the amount
paid or agreed to be considered as paid on the shares of each
member;
The date at which each person was entered in the register
as a member;
The date at which any person ceased to be a member:
Provided that, where the company has converted any of its
shares into stock and given notice of the conversion to the registrar
of companies, the register shall show the amount of stock held by
each member instead of the amount of shares and the particulars
relating to shares specified in paragraph (a) of this subsection.
(2) If default is made in complying with this section, the
company and every officer of the company who is in default shall be
liable to a default fine.

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