Companies. [Ch. 31. No. 1.

127. (1) Every balance sheet of a company shall be
signed on behalf of the board by two of the directors of the
company, or, if there is only one director, by that director,
and the auditors’ report shall be attached to the balance
sheet, and the report shall be read before the company in

general meeting, and shall be open to inspection by any
member.

(2) In the case of a banking company registered
after the Ist of January, 1914, the balance sheet must be
signed by the secretary or manager, if any, and where there
are more than three directors of the company by at least
three of those directors, and where there are not more than
three directors by all the directors.

(3) If any copy of a balance shect which has not
been signed as required by this section is issued, circulated,
or published, or if any copy of a balance sheet is issued,
circulated, or published without having a copy of the
auditors’ report attached thereto, the company, and every
director, manager, secretary, or other officer of the company
who is knowingly a party to the default, shall on conviction
be liable to a fine of two hundred and fifty dollars.

128. (1) In the case of a company not being a private
company—

(a) a copy of every balance sheet, including every
document required by law to be annexed thereto
which is to be laid before the company in general
meeting, together with a copy of the auditors’ report,
shall, not less than seven days before the date of the
meeting, be sent to all persons entitled to receive
notices of general meetings of the company;

(b) any member of the company, whether he is or is
not entitled to have sent to him copies of the company’s
balance sheets, and any holder of debentures of the
company, shall be entitled to be furnished on demand
without charge with a copy of the last balance sheet
of the company, including every document required
by law to be annexed thereto, together with a copy
of the auditors’ report on the balance sheet.

If default is made in complying with paragraph (a) of this
subsection, the company and every officer of the company
T.—IVv.

417

pigning of
balance
sheet.

Right to
receive
copies of
balance
sheets and

» auditors’

report.