PARLIAMENT.

Mataura Ensign, Issue 945, 14 September 1901, Page 5

PARLIAMENT.

LEGISLATIVE COUNCIL. Thursday, Smtemiikb 12. The Legislative Council went into committee on the Companies Bill, and carried some important'provisions relating to the liability of directors. Under the head of " payment of calls " it is provided that it shall be obligatory on the directors to pay their calls on or before the day on which shareholders' calls are payable, and that any director failing to do so shall be liable to a maximum penalty of £SO or a minimum of £5, in addition to his liability for payment of the amount of the call. Also, if any director fails to pay his calls as provided it is stipulated that, notwithstanding the Mining Companies Act, l c '.ll, no shares except those held by the directors of the company shall be liable to forfeiture under Act for non-payment of calls. Compliance by directors with the provision of this clause must also be a condition precedent to judgment being given against a shareholder for the amount of his calls. On the motion of Hon. A. Lee Smith a new clause was added disqualifying from fees or remuneration any director in debt for calls, or who is an absentee from directors' meetings for three montbs, unless such absence is with the leave of the directors. It was further carried on Mr Lee Smith's motion, that every director so disqualified v, receives any payment contrary to this clause, or who is a party to any such payment, shall be liable to £SO penalty for eieh offence, and any such payment made to him may be recovered at any time within three ye*rsbythe liquidator, in the event of the company being wound up ; also that it shall not be lawful for any shareholder to transfer, or for any company to accept transfer of any share on which calls are due. The Council rose at 0.20 p.mFriday, Seitekber 13.

The Companies Bill was read a third time, and the Council rose at 1.15 p.m.

HOUSE OF REPRESENTATIVES. Thursday, Seitembkb 12. The annual report of the Commandant was laid on the table. Several questions were asked, the answers to which made it clear that Major Andrews (a New Zealander), who has command of the sixth contingent, is to be superseded by Colonel Fenton if the Imperial authorities will agree. The Limitation of Profits and Prevention of Kings and Combines Bill (Mr Hornsby) and Mining Act Amendment Bill (Mr McGowan) were introduced and read a iirst time.

Mr Seddon moved, and Captain liusse'l seconded, an address of sympathy to the American nation on the recent dastardly attempt on the life of President McKiuley. Mr Seddon moved that the House hold morning sittings in order to facilitate business, This was carried after considerable discussion, and the financial debate was resumed. Friday, Ski'TEHiser 13. Mr Hornsby's motion that a breach of privilege had been committed by the ' Manawatu Standard ' in October, 11100, was discussed, and a motion by the Premier that the House regretted the uncalled-for attack made on its honor by the journal, but seeing the giv.it length of time that had elap-ed the House could not p:tss Mr Hornsby's motion, and resolved to expunge all reference from ' Hansard ' and the Journals of the House was agreed to. The financial debate was concluded by the Premier, and the House went into Committee of Supply.