COMPANY LAW

Hokitika Guardian, 25 September 1931, Page 6

COMPANY LAW

IMPORTANT REVISION. LEGISLATION NEXT SESSION. WELLINGTON, Sept. 23. After two years of labour the special committee on the new Companies Act lias virtually finished its task. Intioduction of the bill at this session of Parliament, however, has proved to be impossible because of difficulties in the way of having the measure drafted. Had it been possible to have the bill prepared by the Crown law draftsmen introduction to the House this year would have been likely, but as the measure is one of the largest and most important to be placed on the Statute Book it is doubtful if the Government would have been willing to add the bill to the business of an already crowded session. After the bill is printed flic committee appointed by the New Zealand Society of Accountants, the Stock Exchange and other interested bodies, desires to overhaul it once more. The terms of the new bill are largely based on the English Act, but where the New Zealand statute at present in existence appears to meet the Dominion’s needs more fully these clauses have been preserved. Some months are still needed for finalising the bill, and its appearance in the House of Representatives is certain for next session.