CO129-567-10 Companies Amendment Ordinance- draft bill 15-9-1938 - 28-9-1938 — Page 63

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Falestine Ordinance Hoi 87 of 1937.

MEMORANDUM

Clause 2. The words "or my derivatives

or foreign equivalents thereof” should be

added; compare the provisions of Section 6

of the Palestine Ordinance, a copy of which

is enclosed.

Clause 3. Subscribed capital should

also be included, and the words “with equal

prominence" should be added after "therein".

Clause 6. The power which is given to

the Registrar of Companies to impose fines

on companies is open to objection, and it is

suggested that the provision should be

deleted, as also Clause 7, which dependa

upon it.

If the provision is to remain, it

should be made clear that the company can

refuse to pay the fine, in which case

premmably a prosecution would follow, in

the ordinary way: and also that payment of

the fine expiates the offence. But it is

much to be preferred that the section should

be