—(1) A copy of every profit and loss account and balance-sheet of a company or, in the case of a holding company, a copy of the consolidated accounts and balance-sheet (including every document required by law to be attached thereto), which is duly audited and which (or which, but for section 201C) is to be laid before the company in general meeting accompanied by a copy of the auditor’s report thereon shall —
not less than 14 days before the date of the meeting; or
if a resolution under section 175A is in force, not less than 28 days before the end of the period allowed for the laying of those documents,
be sent to all persons entitled to receive notice of general meetings of the company.
(2) Any member of a company (whether he is or is not entitled to have sent to him copies of the profit and loss accounts and balance-sheets, or consolidated accounts and balance-sheet) to whom copies have not been sent and any holder of a debenture shall, on a request being made by him to the company, be furnished by the company without charge with a copy of the last profit and loss account and balance-sheet of the company, or a copy of the consolidated accounts and balance-sheet, as the case may be (including every document required by this Act to be attached thereto) together with a copy of the auditor’s report thereon.
(3) If default is made in complying with subsection (1) or (2), the company and every officer of the company who is in default shall, unless it is proved that the member or holder of a debenture in question has already made a request for and been furnished with a copy of the accounts or consolidated accounts and all documents referred to in subsection (1) or (2), be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and also to a default penalty.
(4) In a case referred to in subsection (1)(b), any member or auditor of the company may, by notice to the company not later than 28 days from the day on which the documents referred to in subsection (1) were sent out, require that a general meeting be held for the purpose of laying those documents before the company.
(5) Section 175A(5) shall apply, with the necessary modifications, to the giving of a notice under subsection (4).
(6) The directors of the company shall, within 21 days from the date of giving of the notice referred to in subsection (4), convene a meeting for the purpose referred to in that subsection.
(7) If default is made in convening the meeting under subsection (6) —
each director in default shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000; and
the Court may, on application of the member or auditor, order a general meeting to be called.
[UK, 1948, s. 158; Aust., 1961, s. 164]