Government Gazette Of Uttar Pradesh

VlltJ UT1AR PRADESH LlAZETTE, JUNE 25, J.U55

legal proceedings may be signed and verified on behalf of the Cor-
poration by the Managing Director or by such other officer as may ho
empowered by the Board, by notification in the Uttar JWtaA
official Gazette, in this regard.

55. In the event of there being a vacancy in the office of the
Managing Director, his powers and duties under these Regulations
shall, till such time as the vacancy lasts, for the purposes of Regu-
lation 38, be exercisable by the Chairman and in all other cases by
such Director including the Chairman or officer of the Corporation,
as the Board may appoint in this behalf

56. Common seal of the Corporation—(i) The common seal of the
Corporation shall not be affixed to any instrument except pursuant
to a resolution of the Board and except in the presence of the Man-
aging Director and one more director who shall sign their names
to the instrument in token of their presence, and such signing shall
be independent of the signing of any person who may sign the ins-
trument as a witness. The instrument shall be of no validity unless
signed as in the manner aforesaid.

(ii) The common seal of the Corporation shall be affixed to the
share certificates issued by the Corporation and may be used for
such other purposes as may be approved by the Board.

57. Service of notice to share-holders : (i) A notice may be given
to a share-holder by sending it by post to his registered address or
by advertisement in one of the principal newspaper circulating in
the State of Uttar Pradesh.

(ii) Any notice, if served by pout, shall be deemed to have been
Meuved on the third day following that on which it was posted, and in
proving such service it shall be sufficient to prove that the notice
was properly addressed and posted. Any notice given by advertia-
ment shall be deemed to have been given by the date 011 which the
advertisement first appeared.

(iii) Any notice given in accordance with the foregoing provisions
shall be deemed to have been didy given notwithstanding that the
(^hare-holder be then deceased and whether or not the Corporation
had notice of his deceased and shall in that case be deemed to be a
notice to his legal representatives.

(iv) All notices with respect to any registered shares to which
persons are jointly entitled shall be given to whoever of such persons
is named first in the register maintained under regulations 8, 9,
and notice so given shall be sufficient notice to all the holders of the
said shares.

(v) The signature to any notice to be given by the Corporation
may be written or printed or be affixed in any other manner.

58. Service of notice to Corporation—A notice may be served
on the Corporation by delivering it to an authorized official of the
Corporation at, or by sending it by registered post to the Head
Office of the Corporation,

59. Accounts—The Board shall cause the accounts to be kept of
the assets and liabilities and receipts and expenditure of the Corpora-
tion,

60. Annual Statement of Accounts—The Board shall cause the
books of the Corporation to be balanced on the last day of the month of
March, in each year and the annual accounts shall be set out as fol-
lows :

(a)a balance-sheet in the form specified iu Schedule wt A"
annexed hereto ;

(6) a Profit and Loss account for the year in the form Bpn'ci-
fied in Schedule " B " annexed hereto.

61. Returns—(i) The statement to be made under sub-.sectiun
(i) of section 38 of the Act shall be in the form specified in Schedule
" C " annexed hereto and the statements to be made under sub-
section (3-) of the same section shall be in forms aet out in Schedules
A andB.