COMPANIES ACT
A CHARGE LAID. (Per Press Association.—Copyright.) CHRISTCHURCH, June 26. A charge under the Companies Act, 1933, said to be the first of tfie kind in New Zealand, was laid at the Magostrate’s Court to-day, when Messrs R. Perry and Co., Christchurch brokers, pleaded guilty to issuing an application for shares without a prospectus. Defendant was fined £2 and costs by the Magistrate (Mi Levvey), who stated he would treat the ease as a warning. Counsel for the assistant Registrar of Companies said the maximum penalty was £SOOO. The whole purpose of the regulation was to prevent people being defrauded. In this case t>here was no suggestion of fraud! and it was the first prosecution under the Act in New Zealand. Counsel for the company said his clients ihad overlooked the subsection.
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Hokitika Guardian, 26 June 1935, Page 6
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133COMPANIES ACT Hokitika Guardian, 26 June 1935, Page 6
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