COMPANY LAW REFORM
PROPOSALS IN SOUTH AFRICA PREVENTING EXPLOITATION (United Press Assn. —Elec. Tel. Copyright) (Received Feb. 21, 1 p.m.) CAPETOWN, Feb. 20 The Minister of Justice, Oenernl Smuts, introduced in the Assembly the Companies Act which aims to prevent abuses of company administration and exploitation. Public share hawking is strictly prohibited, and also the purchase of own shares directly or through a subsidiary.
Fines will be imposed for false statements. Prospectus accounts must disclose loans and remuneration paid to directors, who must disclose changes in their names and nationality.
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https://paperspast.natlib.govt.nz/newspapers/WT19390221.2.55
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Waikato Times, Volume 124, Issue 20736, 21 February 1939, Page 7
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90COMPANY LAW REFORM Waikato Times, Volume 124, Issue 20736, 21 February 1939, Page 7
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