Small number appeal
PA Wellington Less than 1 per cent of the companies registered in New Zealand had applied for permission either to pay higher fees to their directors or increased dividends to their shareholders, the Company Distribution and Directors’ Fees Appeal Committee says. The statement follows recent published statements expressing surprise that a majority of the applications to the committee for dispensation had been granted. “The fact is that the vast majority of companies have not lodged an appeal. “Those that have appealed, which represent less than 1 per cent of the companies registered in New Zealand, obviously considered that they had a special case for dispensation under the regulations,” says a spokesman for the committee. Of those which had appealed. 68 per cent had been successful.
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Press, 28 June 1977, Page 20
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128Small number appeal Press, 28 June 1977, Page 20
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