COMPANY LEGISLATION

Otago Daily Times, Issue 22711, 25 October 1935, Page 10

COMPANY LEGISLATION

PROPOSED AMENDMENTS UNLIKELY THIS SESSION (From our Parliamentary Reporter) ■ WELLINGTON, October 24. It is extremely doubtful whether the Companies Amendment Bill, which was expected before the end of the session and was designed to tighten up still further the law relating to company promotion methods, will be passed before the House rises. In fact, it is regarded as unlikely that the Bill will be presented, mainly because of delays in its drafting. Some apprehension has been expressed as to the nature and intention of the legislation, and some members of Parliament have been requested by interested parties to do their best to have a draft of the Bill referred to them before it is dealt with by Parliament. . A representative meeting of Christchurch sharebrokers telegraphed to-day to Mr Sullivan, asking him to use his influence to have the Bill referred .to them. They stated that a possible injustice might be inflicted by the Bill, which was understood to confer » virtual monopoly of share-broking business on the Stock Exchange Association, of which a majority of the licensed sharebrokers were not members.