aThe Companies Act, 1948, provided special provisions for holding or subsidiary. It exempted certain class of company from complying with the requirements as to the contents of financial statements. The reason given for this exclusion was that the interests of the depositors and policyholders outweig...
Discusses Companies Act 1948 Section 54, which states that it shall not be lawful for a company to give any financial assistance that would help individuals purchase shares in the company o...
aIn Newton v. Birmingham Small Arms Co, the court said that the purpose of balance sheet is primarily to show that the financial position of the company is at least as good as there stated. One of the lacuna existed in the Companies Act, 1948, was that it did not define many of the...
The accounting provisions of the Companies Act 1948 (CA48) represented a major change from the provisions of preceding company legislation, the Companies Act 1929 (CA29). CA48 contained radically different accounting and auditing provisions from those of any previous enactment and represented a sub...
Section 148 of the Companies Act 1948 requires that every limited company shall present the shareholders with the Profit and Loss Account and Balance Sheet of the firm. Section 149 and that the accounts should give a true and fair view of the state of the company and of its profits. The ...
To the requirement that a limited company must have‘limited’at the end of its name,the Act provides an exemption in favour of companies whose pursuits are in the interests of the public and which applies its profits or income toward those pursuits and,accordingly,prohibits the payment of any...
behalf under section 3 of the Diplomatic and Consular Officers (Oaths and Fees) Act, 1948 (40 of 1948) or, where there is no such officer by any of the officials mentioned in section 6 of the Commissioners of Oaths Act, 1889 (52 and 53 Vic.C.10), or in any Act amending the same...
(b-ii)ofsection2oftheReserve BankofIndiaAct,1934(2of1934); (iii)anyamountreceivedasaloanfromtheIndustrialFinanceCorporationof IndiaestablishedundertheIndustrialFinanceCorporationAct,1948(15 of1948),orfromaStateFinancialCorporationestablishedunderthe StateFinancialCorporationsAct,1951(63of1951),orfromtheShipping...
1948 and 1985. The 1948 and 1985 sets have been repeatedly amended. This collection of default articles will also include any new default articles under the proposed Companies Act due to follow by Regulation in 2007. Derek French's commentary provides a summary of the law and articles of assoc...
contained intheCompaniesAct1929andCompanies Act1948oftheUnited Kingdom (UK). legco.gov.hk legco.gov.hk 現行《公司條例》中關於公司清盤及無力償債的條文,大體上是 根據英國《1929 年公司法》和《1948 年公司法》所載條文而制訂的。 legco.gov.hk ...