COMPANIES ACT - 1963 (ACT 179)

    Section - 145 - Bills of Exchange and Promissory Notes

    (1) A bill of exchange or promissory note shall be deemed to have been made, accepted, or endorsed, on behalf of a company if made, accepted or endorsed in the name of the company or if expressed to be made, accepted or endorsed on behalf or on account of the company.

    (2) The company and its successors shall be bound thereby if the company is, in accordance with sections 139 to 143 of this Code, liable for the acts of those who made, accepted or endorsed in its name or on its behalf or account; and a signature by a director or the secretary on behalf of the company shall not be deemed to be a signature by procuration for the purposes of section 23 of the Bills of Exchange Act, 1961 (Act 55).