Register maintenance obligations: companies must keep specified member and security registers; noncompliance yields statutory penalties. Companies must maintain prescribed registers - including a register of members (separately indicating classes and residency), a register of debenture-holders, and registers of other security holders - each with an index of names. A depository's register of beneficial owners is deemed the corresponding company register. With articles' authorisation, a company may keep a part of the register abroad as a 'foreign register' in the prescribed manner. Failure to maintain or to keep the register as required attracts the statutory penalty for noncompliance applicable to the company and officers in default.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Register maintenance obligations: companies must keep specified member and security registers; noncompliance yields statutory penalties.
Companies must maintain prescribed registers - including a register of members (separately indicating classes and residency), a register of debenture-holders, and registers of other security holders - each with an index of names. A depository's register of beneficial owners is deemed the corresponding company register. With articles' authorisation, a company may keep a part of the register abroad as a "foreign register" in the prescribed manner. Failure to maintain or to keep the register as required attracts the statutory penalty for noncompliance applicable to the company and officers in default.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
