Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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SECRETARIAL PRACTICE NEW ZEALAND. The Companies Acts are as follows: — No. 26 of 1908, which is the principal Act, and the following Amending Acts, viz. Nos. 26 of 1910, 31 of 1919, 34 of 1920, 35 of 1921-22 and 25 of 1928. The principal Act of 1908 is similar in the main to the English Act of 1929:— 5S.” 5. Noassociation of more than ten persons may carry on business for gain unless incorporated. S. 13. The minimum number of members of a public and a private company is the same—seven. * S. 31. Every share certificate must state particulars of any preferential or limited rights or conditions } attaching to the shares or stock specified therein. S. 35. Directors are prohibited from registering transfers of shares on which calls made are unpaid. S. 52. In the case of a company with wasting assets, dividends may be paid out of profits notwith- standing loss of capital provided that the auditors certify that the remaining assets exceed the liabilities (excluding paid-up capi- tal). S. 57. Commission may only be paid on shares offered to he public. S. 73. No director of a company other than a private com- pany may receive fees or other remuneration if he is in debt to the company for calls or has been absent from board meetings for three months without the consent of the Board. Three years is substituted for the period of two years in Part III of the fourth schedule to the English Act of 1929 after which certain informa- ‘ion is not required in a prospectus. 5. 99. Inthe case of a company not issuing a prospectus a statutory declaration must be made by the directors before commencing business that in their opinion the money subscribed is sufficient “0 justify the company in commencing business. governor is required, on the application of a majority in number representing two-thirds in value of the shareholders, to order the accounts of a company to be audited by the audit office, and, if the applicants so require, to order a valuation of the assets. Private Companies. The number of members must not exceed 25; all the authorised share capital must be subscribed for in the memoran- dum of association

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