TRUST COMPANIES
NEW SOUTH WALES WINDING-UP LEGISLATION INTRODUCED Frets Association—By Telegraph—Copyright SYDNEY. April 1. In the Legislative Assembly the Premier (Mr B. S. Stevens) introduced a Bill to wind up the investment trust companies into whose activities the commission recently inquired and to •place the administration in the hands of the Public Trustee. The Premier said that the Bill was supplementary and complementary to the legislation before the New Zealand Parliament, so'that there would he a simultaneous winding up of the companies. After explaining the conditions under which the trust building would be sold for the benefit of the debenture-holders in the proportion in which they had found the 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 of the companies incorporated in New South Wales or registered as foreign companies in New South Wales for ten years.
The Bill passed its first reading without a debate.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19350402.2.60
Bibliographic details
Evening Star, Issue 21994, 2 April 1935, Page 9
Word Count
171TRUST COMPANIES Evening Star, Issue 21994, 2 April 1935, Page 9
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.