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Balance sheet:
S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account, or the income and expenditure account, is made up.
By s.155(1) the balance sheet shall be signed on behalf of the board by two of the directors of the company, or whether there is only one director, through that director.
By s.155(4) if any balance sheet is not signed as required but a copy is issued, circulated or published, the company and every officer who is in default shall be liable to a fine not exceeding one thousand shillings.
Provision of Fiduciary Duties - company management: This provision is supplemented by Article 84 of Table A which provides that- i. The director shall not vote in respect
NEGLIGENCE: It is still uncertain whether damage caused by negligence can be brought under the heading of "fraud" for the purpose of the exception of "fraud on the minority."
Balance sheet: S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account,
Dissolution by the Court Conversely Section 39 of the Act prescribes the state of affairs that the court will decree the compulsory dissolution about a partnership. They are: li
Defects in Appointment: S.181 provides that a director's acts shall be valid despite any defect that may afterwards be discovered in his appointment or qualification. This pro
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