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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 116

Books to be balanced.

116. The books of the company shall be balanced at the prescribed periods, and
if no periods be prescribed, fourteen days at least before each ordinary
meeting: and forthwith on the books being so balanced an exact balance sheet
shall be made up, which shall exhibit a true statement of the capital stock,
credits, and property of every description belonging to the company, and the
debts due by the company, at the date of making such balance sheet, and a
distinct view of the profit or loss which shall have arisen on the
transactions of the company in the course of the preceding half year; and
previously to each ordinary meeting such balance sheet shall be examined by
the directors, or any three of their number, and shall be signed by the
chairman or deputy chairman of the directors.

© 1845 Crown Copyright

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