Indian model
(X.Z. Press Association i WELLINGTON. Oct. 30. The New Zealand Shiping Corporation's memorandum and articles of association are based on those j of the Shipping Corporai tion of India, a corporation board member and m; , . ri- [ time legal expert, Mr lan ■ Mac Kay, said today. | Mr Mac Kay said the memorandum and the articles [would be submitted to the (Cabinet as soon as possible. | He said that when the Ministry of Transport was (drafting the initial memoran dum and articles it searched (for a reasonable “legal basis." | The Ministry settled on the Indian corporation ns a guide for a number of reasons. one of them being that lit had a copy of the memorandum and articles that was |in English. i A Cabinet sub-committee will check the New Zealand draft to see that it incorporates what the Government wants the corporation to do. I The corporation’s legal experts will then make sure that the draft is in “strict I compliance with the letter of the law.” Without a memorandum and articles the Shipping Corporation is not a registered company under the Companies Act. A company's memorandum is a document setting out the powers of a body, while the articles of association are the internal regulations controlling the body.
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Bibliographic details
Press, Volume CXIII, Issue 33370, 31 October 1973, Page 1
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210Indian model Press, Volume CXIII, Issue 33370, 31 October 1973, Page 1
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