COMPANIES’ RETURNS.

Gisborne Times, Volume XVIII, Issue 1439, 27 April 1905, Page 1

COMPANIES’ RETURNS.

Two cases of interest to companies doing business in New Zealand were beard by Dr A. M’Arthur, S.M., when Lamb and Todd, Limited, and The Maori Sheep Shearing Company, Limited, were charged at the instance of the Assistant Registrar of Companies with having failed to forward to the Registrar of Companies a list of members. ■ MrHislop, for Todd and Lamb, said that the managing director was at present away from the colony, and that the person left in charge was no* able to make the return. He explained, this to the Stamp Department, which gave him further notice to comply with the Act. Unfortunately, however, the representative had overlooked the second notice. Mr Myers, who prosecuted for the Department, said the information was laid under section 101 of the Companies Act, 1903,which required a company to make an annual bat and summary of certain matters specified in the section, aud to file it with the Registrar of Companies.- The Department had dealt in a very lenient way with companies up to the present time, because it took some little time to grasp the moaning of a new statute. He pointed out, however, that for the default under this section there was a liability to a fine not exceeding £5 for every day durmg the continuance of the default, and that bomg so, the company would render itself liable to a ,hsayy firie indeed. The Department in these-beases did not prosecute for fines ; it.a<Ssiydd to bring the seclion prominently before the companies carrying on business in New Zealand, and to indicate that this'section as well as the other sections of the statute must be com- j plied with.. . And if in the future com- ! pames did not comply with the statutory j provisions they may expect to be prosecuted, and not to bo lot oil with nominal : penalties whore the statute provided for so ' heavy a penalty. In the present case his ! iriend-waa prepared to undertake on be- j half of the company that this return would be made to the Registrar and filed with . . was eo, be accepted the un- '■ dertaking, and the Deportment would be satisfied if the company was convicted J ordered to pay oosta, and ordered to come op for sentence when called upon. But •' be wished it to bo emphasised that the J company would oorne up for sentence if it i did not send in the return. These ob- j :servations applied not only to Wellington but through the colony, because there had > been a laxity in compliance with the pro- 'i visions throughout the whole colony. f , Sib Worship adopted counsel's sugges- t *l2 D ,V? nd ords£ed ‘fee defendant to pay ! JE3 10a costa, p ?' _The explanation offered on behalf of the Mapn Shearing Company. Ltd > was that nearly all the shapehojdbrs were. '• out of thp pqlony, and there was a diffi- ; oulty in compiling the returns. The representative, however, undertook to file tfee return within ton days, . A conviction was entered - j , fo/senf 110 * ***£’ ordered *° come ’up . tor sentence when called upon, and w4s i direoted to pay £3 10a costs? .