h32

SECRETARIAL PRACTICE
where any person makes a demand for a document with which he
is by virtue of paragraph (b) of this subsection entitled to be furnished,
default is made in complying with the demand within seven days
after the making thereof, the company and every director, manager,
secretary or other officer of the company who is knowingly a party
to the default shall be liable to a fine not exceeding five pounds for
every day during which the default continues, unless it is proved
that that person has already made a demand for and been furnished
with a copy of the document.

(2) In the case of a company being a private company, 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 the balance sheet and auditors’ report at a charge not exceeding
sixpence for every hundred words.

If default is made in furnishing such a copy to any member who
demands it and tenders to the company the amount of the proper
charge therefor, the company and every officer of the company who
is in default shall be liable to a default fine.

Banking and 131.—(1) Every company, being a limited banking company or

companics to an insurance company or a deposit, provident, or benefit society,

publish periodi- shall, before it commences business, and also on the first Monday in

cal statement. pebruary and the. first Tuesday in August in every year during
which it carries on business, make a statement in the form set out
in the Seventh Schedule to this Act, or as near thereto as circum-
stances admit.
(2) A copy of the statement shall be put up in a conspicuous
place in the registered office of the company, and in every branch
office or place where the business of the company is carried on.

(3) Every member and every creditor of the company shall be
entitled to a copy of the statement, on payment of a sum not exceed-
ing sixpence.

9 Edw. 7, c. 49.

(4) If default is made in complying with this section, the
company and every director and manager of the company who
knowingly and wilfully authorises or permits the default shall be
liable to a fine not exceeding five pounds for every day during which
the default continues.

(5) For the purposes of this Act a company which carries on
the business of insurance in common with any other business or
businesses shall be deemed to be an insurance company.

(6) This section shall not apply to any assurance company to
which the provisions of the Assurance Companies Act, 1909, as to
the accounts and balance sheet to be prepared annually and deposited
by such a company apply, if the company complies with those pro-
visions.

Appointment 132.—(1) Every company shall at each annual general meeting
ion of auditers, appoint an auditor or auditors to hold office until the next annual
general meeting,