AFFORESTATION COMPANIES.
CHANGE FROM BONDS TO SHARES.
Per Press Association
WELLINGTON, Nov. 9. The object of the Companies (Bondholders Incorporation) Bill, which was introduced in the House to-day, is to enable afforestation companies to do certain things, such as make preparations for milling, which at present they have not power to do.
The Bill was introduced at the request of several companies, and will not be proceeded with till- the session is resumed early next year. Companies may change their bonds into shares and a commission is to be set up by the Government to see that bondholders in the change over lose none of their original rights. Wide powers are given the commission in the way of obtaining information it may require. Heavy penalties are provided in the case of persons neglecting or refusing to give the desired information.
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https://paperspast.natlib.govt.nz/newspapers/MS19341110.2.58
Bibliographic details
Manawatu Standard, Volume LIV, Issue 295, 10 November 1934, Page 6
Word Count
140AFFORESTATION COMPANIES. Manawatu Standard, Volume LIV, Issue 295, 10 November 1934, Page 6
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