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 or by or on behalf or on account of, the company by a person acting under its authority.


DJEI Commentary 

Section 46 concerns bills of exchange and promissory notes which are made, accepted or endorsed on behalf of a company. It reproduces in substance section 39 of the Companies Act 1963, and is self-explanatory.