THE COMPANIES ACT
FAILURE TO FURNISH RETURNS PROSECUTIONS IN WELLINGTON (Per United Press Association) WELLINGTON, Nov. 20. The first prosecution in Wellington under the Companies Act, 1933, for failure to furnish annual returns, involving 29 different companies and a total liability to 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 capita], their indebtedness, and a number of other factors relating to their 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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Otago Daily Times, Issue 23044, 21 November 1936, Page 14
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152THE COMPANIES ACT Otago Daily Times, Issue 23044, 21 November 1936, Page 14
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