COMPANIES ACT.

Manawatu Standard, Volume LV, Issue 255, 25 September 1935, Page 9

COMPANIES ACT.

INJUSTICE ALLEGED. The disqualification of certain persons for appointment as auditors of a company, as provided for in section 140 of the Companies Act, 1933, was the subject of a petition presented to the House of Representatives by Mr A. Harris on behalf of the Accountants’ Protect’on Society. The section precludes the appointment as an auditor of any person who is not a member of the New Zealand Society of Accountants or a member, fellow or associate of an association of accountants constituted in some part of the British Empire outside New Zealand.

It is stated in the petition that as the result of this legislation persons holding audits prior to the passing of the Act have been rejected, -while unemployed accountants of reputable standin | have been prejudiced in' practising the only profession it) which they are expert. It is further claimed that the Act places a grave injustice on many accountants employed in salaried positions in that, they have reached an age at which they, cannot concentrate oil examinations, and that it infringes the right of the people to choose whom they desire to protect their interests. The petition had last year been before

the A to L Committee, -which had reported favourably on it to the House, and had found that an amendment to the Act was necessary and just. Since then no action had been taken.

The petition was referred to the A to L Committee.