Secretarial practice

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Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IX. Other matters relating to shares

Collection:: Economics Books

OTHER MATTERS RELATING TO SHARES 103 from s. 108 (3) (5), or from the statutory form of annual summary, and need not be set out here. Amongst the par- ticulars required by s. 108 are the particulars required by s. 144 to be included in the Register of Directors. This section is discussed on p. 149, but it may usefully be pointed out here that under subsection 6 of that section a person in accordance with whose directions or instructions the directors are accustomed to act is himself to be deemed a director and officer of the company. See also s. 110 (5). One difficulty may be mentioned: section 108 (3) (f) requires particulars of ‘the total amount of the sums, if any, paid by way of commission in respect of any shares or debentures, without any limitation to the period since the date of the last return. The form apparently contemplates the par- ticulars of commissions paid being limited to sums paid since the date of the last return. In view of the wording of the section, however, it would appear that the words ‘since the date of the last return’ in the form must be con- strued as applying only to discounts on debentures. This difficulty did not arise on s. 26 of the Act of 1908, and the omission of the words since the date of the last return from s. 108 (2) (f) was probably a slip. Except in the case of a private company or an assurance company which has complied with s. 7 (4) of the Assurance Companies Act 190g, the return must also include a written copy of the last audited balance sheet, including every document required by law to be annexed thereto (see p. 180) and the auditors’ report thereon. ‘Written’ includes printed but the Registrar requires a printed copy which is filed, to be signed by the auditors. Such a copy must be certified as correct by a director or the manager or secretary of the company, and if the balance sheet is in a foreign language, an English translation, certified in the prescribed manner, must also be annexed. The form of certificate required by the Registrar is: ‘certified true copy of the last audited balance sheet and of the auditors’ certificate thereon.’ If the last balance sheet did not comply with the require- ments of the law in force at the date of the audit with respect to the form of balance sheets, the requisite corrections must be made in the copy to bring it into conformity with such law and the fact that the copy has been so amended must be stated thereon. The provisions of s. 98 subsections (2) and (3) as to copies of the register apply to the annual return [s. 110 (2)]. An annual return is now required of companies not having share capital. but the particulars required to be included 2 Statement in form of Balance Sheet. Annual Return of Companies not having Share Lapital.

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