Marginal note:Approval of financial statement
127 (1) The financial statement shall be approved by the board of directors, and the approval shall be evidenced at the foot of the balance sheet by the signature of two of the directors duly authorized to sign.
Marginal note:Auditor’s report to be attached
(2) The auditor’s report shall be attached to the financial statement and shall be read at the annual meeting of shareholders and shall be open to inspection by any shareholder.
Marginal note:Offence
(3) A company is guilty of an offence that issues, circulates or publishes a copy of the financial statement
(a) the original of which has not been approved by its board of directors;
(b) without having the balance sheet signed by two directors; or
(c) without accompanying the statement with the auditor’s report.
- 1964-65, c. 52, s. 39
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