Public Service Investment Society Limited Act 1998

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Public Service Investment Society Limited Act 1998

Private Act1998 No 3
Date of assent6 October 1998

An Act to enable The Public Service Investment Society Limited to be registered as a company under The Companies Act 1993

  • Preamble

    WHEREAS:

    • B. The society wishes to be registered as a company under The Companies Act 1993 with the initial shares in the company held by the members of the society:

    • C. Section 14A of the Industrial and Provident Societies Act 1908 enables industrial and provident societies to be registered as companies, but requires an application for registration as a company to be signed by all the initial shareholders:

    • D. It is impracticable for the society to obtain the signatures of all its members to an application for registration as a company:

    • F. It is not considered appropriate that liability for taxes and duties should be incurred as a result solely of a change in the legal status of the society:

    • G. The society wishes that provision is made for other matters in connection with its registration as a company:

    • H. Legislation is the only means by which the society can be registered as a company conveniently and without the risk of adverse tax and other consequences:

    • I. The objects of this Act can be attained only by legislation:

BE IT THEREFORE ENACTED by the Parliament of New Zealand as follows: