Companies (Bondholders Incorporation) Act 1934-35

  • repealed
  • Companies (Bondholders Incorporation) Act 1934-35: repealed, on 31 August 2012, by section 3 of the Regulatory Reform (Repeals) Act 2012 (2012 No 71).

Reprint as at 31 August 2012

Companies (Bondholders Incorporation) Act 1934-35

Public Act1934 No 39
Date of assent26 March 1935
  • Companies (Bondholders Incorporation) Act 1934-35: repealed, on 31 August 2012, by section 3 of the Regulatory Reform (Repeals) Act 2012 (2012 No¬†71).


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This Act is administered in the Ministry of Commerce.


Contents

Title

1 Short Title

2 Interpretation

3 Statement to be delivered to Registrar of Companies by bond-issuing companies

Bondholders Incorporation Commission

4 Constitution of Commission

5 Constitution of Commission not to be questioned

6 Remuneration of Commission

7 Clerk and other officers

8 Seal of the Commission

9 Records

10 Sittings of Commission

11 Decisions

12 Commissions of Inquiry Act to apply

13 Evidence Act, with certain modifications, to apply

14 Proceedings to be private

15 Procedure of Commission

Incorporation of bondholders

16 Order for scheme for incorporation of bondholders

17 Commission may make order for incorporation of bondholders company

18 Bondholders to receive shares in exchange for their bonds entitling them to the same rights

19 Bond-issuing company's rights in the land may be vested in bondholders company in exchange for shares

20 Incorporation of bondholders company

21 Shares deemed to be duly allotted

Adjustment of rights

22 Commission may make orders to facilitate realisation

Miscellaneous

23 Fees for proceedings before Commission

24 Levies on bond-issuing companies

25 Recovery of levies and fees

26 Reference of points of law to High Court

27 General jurisdiction of Commission

28 Orders to bind all bondholders and shareholders

29 Proceedings not to be questioned for want of form or appealed against

30 Enforcement of orders

31 Registration of orders with Registrar of Companies

33 Extension of powers of bond-issuing companies

34 Companies and trustees, etc, may hold shares

35 Surrendered shares may be reissued

37 Proportionate part of cost of bonds to be included in cost of timber for income tax purposes

38 Extension of application of Act to bonds wholly or partly extinguished

39 Share certificates, etc, to state that holders have no claim upon Government

40 Regulations

Reprint notes


An Act to make provision for the incorporation of the holders of bonds issued by certain afforestation and other companies incorporated for the purpose of making or maintaining plantations, for facilitating the realisation of the land or produce affected by such bonds, and for matters incidental thereto

  • Preamble

    WHEREAS certain companies incorporated in New Zealand have issued to persons in New Zealand and elsewhere bonds which entitle the holders thereof to share in land in New Zealand with trees or plants thereon intended to be used for commercial purposes, or in the produce of such trees or plants, or in the proceeds of the realisation of such land and produce or of such produce: And whereas in certain cases trusts and trust funds have been established for the purposes of such bonds: And whereas on account of the fact that the bondholders are not incorporated, and of the fact that the powers of the trustees acting on their behalf are limited, difficulties have arisen or may arise in connection with the realisation of such land or produce: And whereas it is expedient that provision should be made for the removal of such difficulties, and in particular for the incorporation of such bondholders and for setting up a Commission for the purpose of inquiring into and determining the respective rights of bondholders, bond-issuing companies, and other persons interested in the subject-matter of any bonds upon any such incorporation, and any adjustment or modification of those rights which may be necessary or desirable to enable or assist any bondholders company to realise or turn to account any part of its property.