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any removal of the ban that the Courts should be
prohibited from deciding any of the questions on which
we contemplate legislation, especially the question of
the validity of the liquidation of Banks;
and it may
well be that there is little to be gained by any
further piece-meal measures. I would be glad to know,
however, whether, assuming that I am satisfied that
some substatial benefit will accrue to the community
and that contemplated legislation will not be prejudiced
by judicial decision, there is any objection to a
partial removal of the ban on the transfer of shares so
as to permit dealings in shares of those companies who,
although in default with the strict requirements of Company
Law, have furnished certain minimum particulars to the
Registrar of Companies, except in any block of shares in
respect of which companies have received notice of
conflicting claims.
4.
I should also be glad to know whether you consider that
exemption might now be granted to dealings in land affected
by occupation transactions except in cases where the Land
Officer has received notice of a claim that any occupation
transaction affecting such land is void or voidable.
5.
At present the Registrar of Companies grants exemption
in particular cases on the lines suggested provided that a
declaration is furnished that there was no occupation
transaction. In the case of land, exemption is habitually
granted to confirmatory deeds, i.e., deeds confirming the
occupation transaction and to further dealings thereafter.
good deal of time and expense is involved in dealing with
each case, which would of course be avoided if the ban were
partially removed.
A