CO129-530-8 Estate Duty Ordinance- 1931- Bill 27-2-1931 - 15-12-1931 — Page 3

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The following observations are made.

1.Section 9. The Companies Ordinance,1911,

Section 28, provides that " no notice of

any trøst, expressed, implied, or

constructive, shall be entered on the

register, or be receivable by the Registrar

of Companies".

It would seem, therefore, that the

provision of the new section 13(1) that the

shares mentioned should be trans ferred

by an executor into his own name as such

executor is in conflict with the provisions

of the Companies Ordinance.

If that is so, the new section 13(1)

should be amended or repealed.

The provision does not appear to be based on the English Acts, and a registration

by an executor of snares in his own name would

make him personally liable on those shares

for calls. Unless, therefore, there is some

local reason. for the provision, it would

seem better to repeal the section.

2.Section 26.

The section of the English Act on which

this section is based ( 1 and 5 Geo.5.C.10.S.15)

includes "any property consisting of land", and no reason is stated why this has been altered to "leasenold property".

3. It is suggested that an early opportunity should be taken to consolidate the two

Ordinances.

4. Until a reply on these matters is received

approval of the Ordinance should be withheld.

A. Dussell.

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