Section 37, The Companies (Amendment) Act, 2014

Section 190 of the Companies Act, 2009 is amended insubsection (3) by repealing and replacing that subsection with the 126 of Act No 5 of 2009. 172 of Act 2009. 173 of Act 2009. 182 of Act 2009. 184 of Act 2009. 185 of Act 2009. 190 of Act 2009. “(3) In every case in which a member is entitled, pursuant to section 197, to appoint a proxy to attend and vote instead of him, the notice shall contain with reasonable prominence, a statement that the member has the right to appoint a proxy to attend and vote instead of him and that the proxy need not be a member of the company; and if default is made in complying with this subsection as respects any meeting, every officer of the company who is in default shall be liable to a default fine not below Le 3,000,000 and not exceeding Le 6,000,000.00”