MINING COMPANIES' ACT AMENDMENT.

Ohinemuri Gazette, Volume VII, Issue 275, 26 September 1896, Page 2

MINING COMPANIES' ACT AMENDMENT.

The Hon. Mr Cadman's Mining Companies' Act Amendment Bill is one-of the measures which will be proceeded with this session. It provides that every company incorporated and r gistered under the principal Act is declared t > be a company within the meaning of the Branch Kegißters Act, 1889, and' is authorised tp keep a branch register. ' Sha^ issued pr intended to be issued fully paid up shall be deemed to have been 'subscribed for equally with contributing shares for the purposes of the principal Act. The measure further provides that the provisions of the Mining Companies Act, 1895, shall extend and be deemed as from the coming into operations of that Act +o have extended to any contract made by any such company^ or by the directors to sell to an existing company, and also to any contract jrilh any person to sell to a new company tp be formed pr promoted by snch person, the whole, or part of the rights, &c, of ,:tne selling company, other than uncalled capital, upon such terms and conditions in all things as the directors ■',of company may think fit. Payment may be made by fully Jpaidrup shares, and the new company is empowered to allot fulby paid-up shares to any person. These provisions apply to every company registered or incorporated under the principal Act, and to every company formed for mining purposes andregisunder the Companies' Act, 1882.