COMPANY DIRECTOR CHARGED

Southland Times, Issue 23634, 8 October 1938, Page 18

COMPANY DIRECTOR CHARGED

ADMISSION OF BREACHES

OF ACT , DUNEDIN, October 7. Fines totalling £l7 10/-, together with substantial costs against Investment Registry Dunedin, Ltd., of which he was a director, were imposed on George William Lawrence in the Police Court today. Besides the charges against, the defendant, there was also a series of charges against the company, and on each one it wap convicted. The only charges against Lawrence were that he failed to furnish an annual return for the company for 1937, failed to hold a general meeting of the company, failed to place before the company an account of income and expenditure, and failed to notify a change of directors. The company was charged with failing to hold a general meeting, failing to notify a change of directors, failing to notify a change of directors, and failing to notify a change of address.

All the charges were admitted. There wps no appearance of any members of the company. Mr G. E. Laing representing the assistant Commissioner of Stamp Duties, who prosecuted, said this was a public company formed last August. This was one of a group of companies, controlled by Lawrence, who was asked by notice on five occasions by the assistant commissioner to furnish information about a change of address of the office of the company. Finally Lawrence asked him to strike the company off the register. As other essential details were not supplied, and in view of the public money that had been subscribed, this application was refused. It appeared, said Mr Laing, that no attempt had been made to place this company on a paying basis. Altogether, £350 had been received by the company, and there was nothing to show what had happened to the money. There was nothing to suggest that there was anything irregular in the manner in which the company was conducted. In this case Lawrence appeared to have committed every breach possible provided for in the Act, commented Mr H. W. Bundle, S.M.

For failing to hold a general meeting the defendant was fined £lO, for failing to place before the company details of income and expenditure he was fined £5, for failing to notify a change of address he was fined £2, for failing to furnish an annual return he was convicted and fined 10/-, and for failing to notify a change of directors he was ordered to pay court costs (10/-). The company was convicted only on each of the charges, against it.