MIXING COMPANIES ACT 1872 AMENDMENT.

Inangahua Times, Volume X, Issue 1612, 12 October 1885, Page 2

MIXING COMPANIES ACT 1872 AMENDMENT.

+ . I I [Concluded.] 9. Section onH hundred of the said Act is h«if by repealed, and in lieu thereof it is hereby enacted as follows : — Within twenty-one days after the service of snch notice as in Section 99 of the said Act provided, any person named as a contributory on the said list may, on written notice to the liquidator, apply to (he Court or the Judge thereof that his name l»e removed from the said list, or that he be rated at a sum less than that which, hy the said list, he is charged with ; and the Court or Judge shall thereupon make such order as shall be right ; and in the latter case, if so ordered, the order for payment of contributions shall apply to such lesser sum : Provided always that upon receipt of such written notice from the contributory as aforesaid, the liquidator shall stay all further proceedings for enforcing the order for payment of the i contribution against the contributory nntil such application as aforesaid shall have been dealt with by the Court, or Judge thereof, or shall hay been abandoned. Such application shall be deemed to have been abandoned if the same shall not have been [ made at the first, sitting of the Couit at which the same could have beei ; heard. j IQ. Section one hundred md one of ; the said Act is hereby repealed, and, i in lien thereof, it is hereby enacted as I follows: — I The order for payment of contri* j butions shall, as against each contribu- j tory, his executor, administrator, J Trustee in Bankruptcy, or other le«;al representative whatsoever, have the same force and effect in all respects whatsoever as a judgement or order >-f the Court, and may, provid-J no notice of intention to apply to rescin I or vary such order In* sooner received from the contributory, after the lapse, of thirty days from the. date when the notice prescribed in section ninetynine of the said Act shall be deenud to have been served, Im> enforced hy the liquidator in his official capacity against all parties liable in the same manner and by the same process as any judgment or order of the Court may be enforced. 11. The following words are hereby added to section ten of '• The Mining Companies Act 1872 Amendment Act, 1883":— Provided always that if an order to wind up a company shall have been granted before the expiration of the said twelve mouths, the holder at the time of forfeiture of any forfeited share therein shall continue to be liable as a contributory nntil the final distribute n. 12. Any transferee of a share in a company who shall, after the expiration of two months from the execution of the transfer to him of snch share, neglect to deposit the sane with the manager of the company, for ihe purpose of having such transfer rejjis tered in the Share Register of the company, shall be liable to pay the sum of £10 to any person who shall sue for the same in Court of competent jurisdiction. 13. No person shall be eligible foi' election as a director of a company, or shall be qualified to act as such, — (1.) If he shall hold any office or place of profit under the com- | pany: (2) If he shall be in the pay, or employment for valuable consideration, of the company : (3.) If he shall l>e concerned in or participate in tiie profits of any contracts with the com- j pany : i Provided always that nothing here- I in contained shall be deemed to apply to such director's remuneration as directors may be entitled to receive by resolution of the shareholders at any special or general meeting. 14. The expression "the Court" in the said Act and this Act shall, notwithstanding the interpretation in section the of the said Act of the said expression, mean a DistriCw Court having jurisdiction the Registered Offioe of the Company is situated, j or, if there be no su?h Court, thne the | Supreme Court