188 Particulars of directors in trade catalogues and circulars (1 ) Every company shall, in all business letters on or in which the company’s name appears and which are i ssued or sent by the company to any person, state in legible characters with respect to every director his present Christian names or the initials thereof and present surname. (2 ) If default is made in complying with subsection (1) the company and every officer of the company who is in default shall be guilty of an offence and liable to a fine not exceeding level five. (3 ) For the purposes of subsection (l)— “business letter” includes any quotation or order form but does not include any invoice, statement, delivery note, packing note or similar document. [Section as amended by Act No. 22 of 2001] 189 Directors may have regard to interests of employees In the exercise of their functions, the directors of a company may have regard to the interests and welfare of the company’s employees and the dependants of those employees, as well as the interests of the company’s members. Avoidance of Provisions in Articles or Contract Relieving Officers from Liability 190 Provisions as to liability of officers and auditors Subject as hereinafter provided, any provisions, whether contained in the articles of a company or in any co ntract with a company or otherwise, for exempting any officer of the company or any person employed by the company as auditor from, or indemnifying him against, any liability which by law would otherwise attach to him in respect of any negligence, default, breach of duty or breach of trust of which he may be guilty in relation to the company shall be void: Provided that— (i) nothing in this section shall operate to deprive any person of any exemption or right to be indemnified in respect of anything done or omitted to be done by him while any such provision was in force; (ii) notwithstanding anything in this section, a company may, in pursuance of any such provision as aforesaid, indemnify any such officer or auditor against any liability incurred by him in defending any proceedings, whether civil or criminal, in which judgment is given in his favour or in which he is acquitted or in connection with any application under section three hundred and forty-nine in which relief is granted to him by the court. Arrangements and Reconstruction 191 Power to compromise with creditors and members (1 ) Where a compromise or arrangement is proposed between a company and its creditors or any class of them, or between the company and its members or any class of them, the court may, on the application of the company or of any creditor or member of the company or, in the case of a company being wound up, of the liqu idator, order a meeting of the creditors or class of creditors or of the members of the company or class of members, as the case may be, to be summoned in such manner as the court directs. (2 ) If a majority in number representing three-fourths in value of the creditors or class of creditors or members or class of members, as the case may be, present and voting either in person or by duly authorized agent or proxy at the meeting, agree to any compromise or arrangement, the compromise or arrangement shall, if sanctioned by the court, be binding on all the creditors or class of creditors or on the members or class of members, as the case may be, and also on the company or, in the case of a company in the course of being wound up, on the liquidator and contributories of the company. (3 ) An order made under subsection (2) shall have no effect until a copy of the order certified by the registrar of the court, together with a copy of the deed of compromise or arrangement, as the case may be, has been deli vered to the Registrar for registration and a copy of every such order shall be annexed to every copy of the memorandum of the company issued after the order has been made. (4 ) If a company makes default in complying with subsection (3) the company and every officer of the company who is in default shall be guilty of an offence and liable to a fine not exceeding level one for each copy in respect of which default is made. (5 ) In this section the expression “company” means any company or foreign company liable to be wound up under this Act and the expression “arrangement” includes a reorganization of the share capital of the company by the consolidation of shares of different classes or by the division of shares into shares of different classes or by both those methods. [Section as amended by Act No. 22 of 2001] 192 Information as to compromise with creditors and members (1 ) Where a meeting of creditors or any class of creditors or of members or any class of members is su mmoned under section one hundred and ninety-one, there shall—