Secretarial practice

Bibliographic data

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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IX. Other matters relating to shares

Collection:: Economics Books

[O04 SECRETARIAL PRACTICE in the return or in the annexed statement are only as to (1) registered office, (2) the directors, (3) certain indebtedness. ‘S. 109.) S. 110, however, applies and accordingly the return must include a certified copy of the balance sheet and other documents mentioned above. Default in complying with the requirements of the Act as to the annual return renders the company and its officers liable to penalties. Under the Act of 1908, the liability was on the company and ‘every director and manager.” The expression ‘officer’ is clearly wider and would include the secretary. The truth or falsehood of the statements contained in the return may be inquired into [British Medical Association (1888), 39 Ch. D. 61]. The company may be convicted if the return is misleading [Grosvenor Bank v. Boaler (1885), 49 J.P. 774]. An appeal lies against a conviction to the Divi- sional Court, but not further to the Court of Appeal [R. v. Tyler (1891), 2 Q.B. 588]. Penalties can be recovered for default made in previous years [R. v. Catholic Assurance Institution (1883), 48 L.T. 675]. Although the returns cannot be made up strictly in accord- ance with the statute if no general meeting has been held, yet directors, who are themselves in default as regards the holding of the meeting (s. 112), cannot rely upon the fact that no meeting has been held as a defence to proceedings for default in filing the Annual Summary [Park v. Lawton (1911), 1 K.B. 588]. Infant In the administration of companies questions of difficulty Shareholders. sometimes arise as to the course to be pursued where an infant is sought to be registered as a member, or, where an infant has been so registered, whether or not with the knowledge of the company that he was an infant, as to the rights, duties and liabilities of the company and the infant respectively. [t is settled law that an infant may be a holder of shares in a company, whether incorporated by special Act of Parliament or registered under the Companies Acts. In the case of statutory companies, to which in general the Companies Clauses Acts apply, the possible infancy of a shareholder is expressly recognised by s. 79 of the Companies Clauses Act, 1845, which provides that if any shareholder be a minor he may vote by his guardian or any one of his guardians. An infant who subscribes the memorandum of association of a registered company is a ‘person’ within the meaning of s. I of the Companies Act, 1929, so that the company is duly NOTE #¢ INFANTS (TRANSFERS, DIVIDENDS, ETC.)

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