I should like to find out at
whose instance this is put in. It is very difficult to appreciate the full effect of this amendment without having the Companies Act here to assist one. Is this a power to be given the directors with the approval of the shareholders, or is it for the directors alone? Then there is one other feature which it seems to me is a little extraordinary. In the third line of subsection 2 occur the words "shall be determined once for all each financial year. ' How can you determine something once for all each year? Is it the intention that the board shall deal with it say at the first meeting, and that their decision shall apply for that year, and that the following year they shall deal with it again?
Topic: COMPANIES ACT AMENDMENT