Co-operative Egg Marketing Companies Act 1950
Co-operative Egg Marketing Companies Act 1950
Co-operative Egg Marketing Companies Act 1950
Co-operative Egg Marketing Companies Act 1950
Public Act |
1950 No 7 |
|
Date of assent |
4 September 1950 |
|
Contents
An Act to Provide for the Application of the Co-operative Companies Act, 1933, to Co-operative Egg Marketing Companies.
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.
1933, No. 49
This Act may be cited as the Co-operative Egg Marketing Companies Act, 1950, and shall be read together with and deemed part of the Co-operative Companies Act, 1933 (hereinafter referred to as the principal Act).
2 Interpretation.
1933, No. 29
In this Act, unless the context otherwise requires,—
“Co-operative egg marketing company” means a company which is incorporated under the Companies Act, 1933 (whether before or after the passing of this Act), the principal object of which is the marketing or the treatment and marketing of eggs supplied to the company by its shareholders, and of the shares issued by which not less than three-fifths in nominal value are held by persons engaged in supplying eggs to the company:
“Principal object”, in relation to any company, means the principal business which the company for the time being carries on, notwithstanding that it may have authority to carry on any other business.
3 Sections 3 to 9 of principal Act applied to co-operative egg marketing companies.
The provisions of sections three to nine of the principal Act shall, with the necessary modifications, apply to co-operative egg marketing companies.
4 Use of word “co-operative”
in name of co-operative egg marketing company.
1933, No. 29
(1)
Any company entitled to be registered under the principal Act as a co-operative egg marketing company may be registered under the Companies Act, 1933, under a name which includes the word ‘‘co-operative’’:
Provided that if at any time after it is so registered under the Companies Act, 1933, it ceases to be entitled to be registered under the principal Act, or its registration under that Act is cancelled, the Registrar of Companies may call upon it to take steps to change its name so as to remove the signification that it is a co-operative company, and the company shall, not later than one month from the date of the notice from the Registrar, take the appropriate steps under the Companies Act, 1933, to change its name.
(2)
If any company fails to comply with the proviso to the last preceding subsection, the chairman and every director thereof shall be severally liable on summary conviction to a fine not exceeding five pounds for every day during which the default continues.