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Magazine Issue 1 - Winter 1996
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| A Guide to Company Law Below is an extract from The Companies (Inspection and Copying of Registers.) Indices and Documents Regulations 1991: Inspection 3. - (1) This Regulation applies to an obligation to make a register, index or document available for inspection imposed on a company by Sections 169(5) (contract for purchase by a company of its own shares), 175(6) (statutory declaration and auditors' report relating to payment out of capital), 191 (1) (register of debenture holders), 219(1) (register of interests in shares &c), 288(3) (register of directors end secretaries), 318(7) (directors' service contracts), 356(1) (register end index of members)and 385(1) (minute books)of the Act, as well as to Section 325 of, and paragraph 25 Part IV of Schedual 13 to, the Act (register of director's interest). [Source: Palmer's Company Law, sec.A2.323] Strange that the UK still has laws governing corporate accountability, but might as well make use of them before they get repealed. The sections mentioned above refer to the Companies Act 1985. These individual sections give more detail. eg. Section 356: 1) The register and index of members' names shall during business hours be open to the inspection of any member of the company without charge, and of any other person on pay- ment of the appropriate charge 2) The company shall make the register, index or document available for such inspection for not less than two hours during the period between 9am and 5pm on each business day. [source :Palmer's Company Law, sec. A2.3231 3) The company shall cause any copy required by a person to be sent to him within 10 days 4) The appropriate charge is -(a) under subsection (1), 5 pence (b) under subsection (3), 10 pence for every 100 words. 5) If an inspection required under this section is refused, or if a copy so required is not sent within the proper period, the company and every of ficer of it who is in default is liable in respect of each offence to a fine. 6) In the case of such refusal or default the court may by order compel an immediate inspection... or direct that the copies required be sent... Section 353: |