SMALL FINES.
UNCOMMON CASE. Per Press Association. WELLINGTON, Nov. 20. The first prosecutions in Wellington under the Companies Act, 1933, for failure to furnish annual returns involving 20 different companies and a total liability for fines of £40,000 took place to-day. The actual fines imposed, however, were £l, 30s, and £2, according to the circumstances. The Crown stated that the prosecutions were under Sections 117 and 119, providing that regular returns must be made each year by limited liability companies, both public and private, as to their share capital, their indebtedness, and a number of other factors relating to tlieir liabilities. The purpose was the protection of the public and of persons dealing with the company who were concerned with the company’s indebtedness. The Act provided that every company and every officer responsible was liable to a fine of £5 for every day of default.
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https://paperspast.natlib.govt.nz/newspapers/MS19361121.2.23
Bibliographic details
Manawatu Standard, Volume LVI, Issue 304, 21 November 1936, Page 2
Word Count
145SMALL FINES. Manawatu Standard, Volume LVI, Issue 304, 21 November 1936, Page 2
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