A NEW BANK.
»— and unlimited liability. Tho Committeo of tho House of Re-j presentatives on., the Commercial Bank? of Australia, Limited, Bill, which pro«j poses to give authority to that bank to' issue notes in New Zealand, on t'lio measure yesterday. j Tho Committee has struck out Clauses! •1 and 5 dealing with liability -on notes' on.the ground that "although under, tho Articles of Association of tho com-i nany the liability of tho company la limited, Clauses -i and !5 of tho Bill purport to impose upon members an unlimited liability in respect of notes is-i sued in New Zealand under the proyw 1 sions of tho-Bilh and- as .such liability,, would be unenforceable against mem-l Iters of the eoritpany' not doiiineiled or having sufficient property in New Zea-' land, Clauses -1 and fj would lend to. mislead members of the public accept-"' ing such notes, and would also be in-* 1 equitablo by imposing upon the bank's shareholders in New Zealand liabilities not imposed upon its shareholders elsewhere."
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/DOM19130830.2.46
Bibliographic details
Ngā taipitopito pukapuka
Dominion, Volume 6, Issue 1842, 30 August 1913, Page 5
Word count
Tapeke kupu
169A NEW BANK. Dominion, Volume 6, Issue 1842, 30 August 1913, Page 5
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in