National Expenditure Adjustment Amendment Act 1963

National Expenditure Adjustment Amendment Act 1963

Public Act1963 No 104
Date of assent23 October 1963

Note

This Act is administered in the Treasury.


An Act to amend the National Expenditure Adjustment Act 1932

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:

1 Short Title
  • This Act may be cited as the National Expenditure Adjustment Amendment Act 1963, and shall be read together with and deemed part of the National Expenditure Adjustment Act 1932 (hereinafter referred to as the principal Act).

2 Repealing provisions for reduction of dividends on cumulative preference shares
  • (1) The following enactments are hereby repealed:

    • (a) Section 41 of the principal Act:

    (2) Notwithstanding the repeal of section 41 of the principal Act, the provisions of that section shall, in relation to the cumulative preference shares issued by any company, continue to apply, as if it has not been repealed, with respect to those shares until the expiration of the financial year of the company that was current immediately before the passing of this Act.