Publication of financial statements by licensed bankers.
48.—(1) In this section the word “year” means a period of twelve months beginning on the 1st day of January.
(2) On and after the 1st day of January next after the passing of this Act, section 108 (which relates to the publication of a certain financial statement by certain companies) of the Companies (Consolidation) Act, 1908, shall not apply or have effect in relation to a licensed banker.
(3) Every licensed banker, unless exempted by the Minister under this section,—
(a) shall post up and at all times keep posted up in a conspicuous place in every office, branch, or other place in which he carries on banking business and also, in the case of a limited company incorporated in the State, in the registered office of the company, a statement (in the form required by this section) in relation to the banking business carried on by him, and
(b) shall furnish on demand to every of his creditors and, in the case of a limited company, to every member of the company a copy of the latest such statement on payment of a sum not exceeding sixpence therefor.
(4) The Minister may at any time, if he so thinks proper, exempt from the provisions of the next preceding sub-section of this section a licensed banker who, immediately before the passing of this Act, carried on banking business in the State and was not then a company to which section 108 of the Companies (Consolidation) Act, 1908, applied.
(5) The statement required by this section to be posted up by a licensed banker shall, in the case of an Associated Bank, be in the form of a copy of its latest balance sheet and, in every other case, be in such form as shall be prescribed by the Minister or, until such form is so prescribed, in the same form as nearly as may be as the balance sheets of the Associated Banks.
(6) Every licensed banker who shall contravene (whether by act or omission) this section shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding one hundred pounds together with, in the case of a continuing offence, a further fine not exceeding five pounds for every day during which the offence is continued.
(7) Where a licensed banker who is a limited company commits an offence under this section, every director and every manager of such company who wilfully authorises or permits the offence shall also be guilty of the offence and be liable on summary conviction thereof to the penalty mentioned in the next preceding sub-section.