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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.
Advantages - Take-over bid: A non-accepting shareholder who applies to the court to set aside the proposed compulsory acquisition of his shares under s.210 will fail unless he
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Resident Magistrate's Court Establishment Further Resident Magistrate's Court is constituted through S.3 (1) of the Magistrate's Courts Act that is provides that 'ther
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