Section 39, The Companies (Amendment) Act, 2014

Section 197 of the Companies Act, 2009 is amended insubsection (5) by repealing and replacing that subsection with the 14 1515 “(5) If for the purpose of the meeting of the company invitations to appoint as proxy a person or one of a number of persons specified in the invitation are issued at the company’s expense to some only of the members entitled to be sent notice of the meeting and to vote by proxy at the meeting every officer of the company who knowingly and willfully authorises or permits their issue shall be in default and liable to a default fine not below Le 5,000,000 and not exceeding Le 10,000,000.00"