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Companies Act 1948

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433Banking and certain other companies to publish periodical statement

(1)Every company, being a limited banking company or an insurance company or a deposit, provident, or benefit society, shall, before it commences business, and also on the first Monday in February and the first Tuesday in August in every year during which it carries on business, make a statement in the form set out in the Thirteenth Schedule to this Act, or as near thereto as circumstances admit.

(2)A copy of the statement shall be put up in a conspicuous place in the registered office of the company, and in every branch office or place where the business of the company is carried on.

(3)Every member and every creditor of the company shall be entitled to a copy of the statement, on payment of a sum not exceeding sixpence.

(4)If default is made in complying with this section, the company and every officer of the company who is in default shall be liable to a default fine.

(5)For the purposes of this Act a company which carries on the business of insurance in common with any other business or businesses shall be 'deemed to be an insurance company.

(6)This section shall not apply to any assurance company to which the provisions of the Assurance Companies Act, 1909, as to the accounts and balance sheet to be prepared annually and deposited by such a company apply, if the company complies with those provisions.

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