COMPANY COMMISSION

Evening Post, Volume CXVII, Issue 72, 26 March 1934, Page 10

COMPANY COMMISSION

A^ INJUNCTION SOUGHT

APPOINTMENT QUESTIONED

Proceedings instituted in. Auckland against the Company Commission were mentioned in tne Court of Appeal today by ' the Solicitor-General (Mr. A. Fair, K.C.), who applied for a fixture for the hearing of the case by the Full Court. The.plaintiffs are The Tiniberlands Woodpulp, Ltd., Maurice Vincent Bates, sharebroker, of Auckland, and Tung Oil < Securities (N.Z.), Ltd., and named as dpfendants are the Attorney-General, John Saxon Barton, SjM., Wellington, Horace Belshaw, university professor, Auckland, and; Frank Edward Graham," sharebroker, Christchurch, the last three being the members of the Company Cqmmission. The Court granted the.Soliqitor-Gene-ral's application, a fixture being made for April 10. ' ■ ■''.", Mr. Barton, Professor Belshaw, and Mr. Graham were .appointed- Commissioners to inquire into and. report upon any modifications of the law that might be thought necessary in relation to the financing and flotation of companies in the Dominion. ■ ■ •■ . • ■■•■-. ■ Addressing the Court, Mr.; Fair said that the plaintiffs were seeking to obtain an injunction. to prevent the Com- j mission- proceeding, on the principal ground that there was no authority for its appointment. The Crown desired to have the matter disposed of, for in the meantime the Commission was being held up. , . Replying to the.- Chief- Justice ' (Sir Michael Myers), Mr. Fair "said the point involved was a short one, but it would take some time to argue. The Chief Justice: There is a good deal of talk about it. ' •■ ■ Mr. Fair: Yes, your Honour.