Companies Act Section 17 — Copies of memorandum, articles, etc., to be given to members

CHAPTER II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO

Commercial / Corporate

Summary

Sub-section (1) states that if a member asks the company for copies of certain documents, the company must send them within seven days of the request. The company can charge a fee for this, as prescribed by rules. The documents covered are the memorandum, the articles, and every agreement or resolution referred to in sub-section (1) of section 117, but only to the extent that these have not already been included in the memorandum or articles.

Sub-section (2) says that if the company fails to comply with this section, then the company and every officer of the company who is responsible for the default will have to pay a penalty. The penalty is one thousand rupees for each day the default continues, but the total amount cannot exceed one lakh rupees for each default.

Official Text

(1) A company shall, on being so requested by a member, send to him within seven days of the request and subject to the payment of such fees as may be prescribed, a copy of each of the following documents, namely:—

(a) the memorandum;

(b) the articles; and

(c) every agreement and every resolution referred to in sub-section (1) of section117, if and in so far as they have not been embodied in the memorandum or articles.

(2) If a company makes any default in complying with the provisions of this section, the company and every officer of the company who is in default shall be liable for each default, to a penalty of one thousand rupees for each day during which such default continues or one lakh rupees, whichever is less.