TRUST COMPANIES
j -WINDING-TIP BILL NEW SOUTH WALES AND NEW ZEALAND SYDNEY, April 1. In the Legislative Assembly, the Premier, Mr. B. S. Stevens, introduced a Bill to wind up investment trust companies into whose activities a commission recently inquired and to place their administration in the hands of the Public Trustee. The Premier said that the Bill was supplementary and complementary to legislation before the New Zealand Parliament so that there would be a simultaneous winding up. of companies. After explaining the conditions under which the Trust Building would .be sold for the benefit of debenture holders in the proportion in which they had found money for its purchase, Mr. Stevens said that the Bill would disqualify the individuals whose machinations had been primarily responsible for the difficulties from holding directorships or participating in the management of any companies incorporated in New South Wales or registered as foreign companies in New South Wales for 10 years. The Bill was read a first time without gebate.
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Bibliographic details
Evening Post, Volume CXIX, Issue 78, 2 April 1935, Page 9
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166TRUST COMPANIES Evening Post, Volume CXIX, Issue 78, 2 April 1935, Page 9
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