ANNUAL LICENSE FEE
COMPANY SEEKS EXEMPTION. COURT’S RULING. iPer Press Association.) Wellington, Sept. 28. Mr. Justice Blair was called upon to decide whether the Oceanic and Oriental Company was entitled to exemption from the annual license fee imposed under the Stamp Duties Act and delivered reserved judgment The company is a foreign one because it is incorporated in Delaware, U.S.A. It is claimed that by reason of the purposes for which it was formed, it was entitled to exemption. The Judge said that he thought the test was not as to what business the company actually embarked upon but what business it might validly embark upon. That test was necessarily made when the company was registered. Applying it, and in view of the fact that the company had been formed for purposes other than those exempted, it followed that the company was not exempt from th annual license fee. The question he had been called upon to decide had already been made the subject, of consideration in New Zealand, and he quoted several cases. Twelve guineas costs were allowed against the company.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HBTRIB19300929.2.21
Bibliographic details
Hawke's Bay Tribune, Volume XX, Issue 240, 29 September 1930, Page 5
Word Count
182ANNUAL LICENSE FEE Hawke's Bay Tribune, Volume XX, Issue 240, 29 September 1930, Page 5
Using This Item
NZME is the copyright owner for the Hawke's Bay Tribune. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in