than the required quorum acting together as a board of directors, and if the company has only one director, that director; of means shares having identical rights, privileges, limitations and “class shares” conditions; means a body corporate incorporated or registered in accordance with this “company” Act or the Companies Act 19671 which is limited by shares or with unlimited liability; in relation to a company means the High Court of Lesotho, and in relation to any “court” offence against this Act, includes a subordinate Court having jurisdiction in respect of that offence; means a person who is owed money or an obligation by a company, and “creditor” includes a person who, in a liquidation, would be entitled to claim that a debt is owing to that person by the company; means any asset that is expected to last or be in use for less than 12 “current assets” months; means a promissory note or bond offered by a company to a creditor in “debenture” exchange for a loan or any other benefit, the repayment of which is secured by the general creditworthiness of the company and not by any specific property; means a person occupying the position of a director of the company by “director” whatever name called; means a body corporate registered under the Companies Act, 1967 “existing company” or under any other law; means a body corporate incorporated outside Lesotho; “external company” means the register of external companies kept pursuant to section 91; “external register” in relation to a company, means a period of 12 months ending on 31st “financial year” March except that where a company is incorporated after 31st March of the relevant year, and the period ending on that date is less than 12 months, that lesser period shall be deemed to be a financial year; means any language other than English or Sesotho; “foreign language” in relation to a group of companies and a financial year - “group accounts” means,
than the required quorum acting together as a board of directors, and if the company has only one director, that director; “class of shares” means shares having identical rights, privileges, limitations and conditions; “company” means a body corporate incorporated or registered in accordance with this Act or the Companies Act 19671 which is limited by shares or with unlimited liability; “court” in relation to a company means the High Court of Lesotho, and in relation to any offence against this Act, includes a subordinate Court having jurisdiction in respect of that offence; “creditor” means a person who is owed money or an obligation by a company, and includes a person who, in a liquidation, would be entitled to claim that a debt is owing to that person by the company; “current assets” means any asset that is expected to last or be in use for less than 12 months; “debenture” means a promissory note or bond offered by a company to a creditor in exchange for a loan or any other benefit, the repayment of which is secured by the general creditworthiness of the company and not by any specific property; “director” means a person occupying the position of a director of the company by whatever name called; “existing company” means a body corporate registered under the Companies Act, 1967 or under any other law; “external company” means a body corporate incorporated outside Lesotho; “external register” means the register of external companies kept pursuant to section 91; “financial year” in relation to a company, means a period of 12 months ending on 31st March except that where a company is incorporated after 31st March of the relevant year, and the period ending on that date is less than 12 months, that lesser period shall be deemed to be a financial year; “foreign language” means any language other than English or Sesotho; “group accounts” means, in relation to a group of companies and a financial year -