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The Pamphlet Collection of Sir Robert Stout: Volume 68

Accounts

Accounts.

115. The Directors shall cause true accounts to be kept of the sums of money received and expended by the Company, and all matters respect of which such receipt and expenditure takes place, and of the assets, credits, and liabilities of the Company.

116. The books of account shall be kept at the office of the Company, or at such other place or places as the Directors think fit.

117. The Directors shall from time to time determine whether and to what extent, and at what times and places, and under what Editions or regulations the accounts and books of the Company or any of them shall be open to the inspection of the members; and no members shall have any right of inspecting any account or book or document of the Company except as conferred by Statute or authorised by the Directors, or by a resolution of the Company in general meeting.

118. At the ordinary meeting in every year the Directors shall lay before the Company a statement of the income and expenditure and a balance-sheet containing a summary of the property and liabilities of the Company made up to the 30th day of June in every year from the time when the last preeding statement and balance-sheet were made, or in the case of the first statement and balance-sheet from the incorporation of the Company.

119. Every such statement shall be accompanied by a report of the Directors as to the state and condition of the Company, and as to the amount which they recommend to be paid out of the profits by way of dividends or bonus to the members, and the amount (if any) which they propose to carry to the reserve fund, and the statement, report, and balance-sheet shall be signed by two Directors, and countersigned by the Secretary.