DAIRY INDUSTRY BILL

Gisborne Times, Volume LXI, Issue 9849, 30 October 1924, Page 3

DAIRY INDUSTRY BILL

AMENDMENTS BY COMMITTEE. WELLINGTON Oct. 2S. This Bill was to-day reported to the House of Representatives by the Ag ricultural and Stock Committee with amendments. Clause 2 regarding the validation of certain allotments of shares in co-operative dairy companies lias been amended by altering the period of notice of objection to the company from three to six months. It is further provided that any person to whom the company lias purpoitecl to allot shares, and who was not a shareholder prior to such allotment, will be prevented from denying the authority of the allotment if being at the date of the allotment a supplier to the company lie did not give notice of objection to receive such shares within the six months. A. new proviso has been inserted as follows: Provided that nothing shall be construed to authorise the inclusion after the passing of the Act of lirovisions in any articles of association purporting: to oblige- the shareholders of any company to supply milk, cream or other dairy produce to the company anti all articles of association to which the sub-section applies (being articles made before the passing of the Act) shall on the expiration of six monthsafter the passing of the Act cease to have any force or effect save- so fears they may be valid and effective irrespective of the provisions of the sub-section.—Special