InSI)Cction of the RCl,rister of Members [Sec.1ion 163]. Sec. 163 of the Companies Act provides that the Register of Members shall be open for
inspection to the members of the company without any fee. Such inspection can take place during business hours and subject to such reasonable
restrictions as the company may impose in tIus regard. The register, however, must remain open for inspection for at least 2 hours each day except when
it is closed under the provisions of the Companies Act. The lllcmbrrs debenture-holders and other persons may take extracts from the register 0:
members without fee or additional fee, as the case may be, and may requi;e a copy thereof which should be supplied to them within 10 days. excJudlllg
the non-working days [SectIon 163 (3) & ()j. Closing of Registcl’ of Membel”S (Section 154). A company may, . after giving not less than seven days’
previous notice by advertisement in a local daily. close the Register of Members, for a period not exceeding forty five days in a year, but not exceeding
thirty days at anyone time.
Generally the companies close the register of members and index for inspection before the annual general meeting in order to up-to-date the list of
members who are entitled to payment of dividend. The company may refuse to register the transfer or transmission of shares during the period the
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