16 Oct.]

Administration of the Noxious Weeds Act 1950, in the Waimarino County (Notice No. Ag. 5344)

PURSUANT to the Noxious Weeds Act 1950, the Minister of Agriculture hereby publishes the following resolution passed by the Waimarino County Council on the 6th day of October 1952 :—

“ That, pursuant to the provisions of section 22 (1) of the Noxious Weeds Act 1950, the Council of the County of Waimarino assume the responsibility for the administration of the Act in the County of Waimarino as from 1 October 1952.”

Dated at Wellington, this 9th day of October 1952.

K. J. HOLYOAKE, Minister of Agriculture.

(Ag. 70/3/12)

First Election of Members of the Te Puke Rabbit-board (Notice No. Ag. 5345)

PURSUANT to section 57 of the Rabbit Nuisance Act 1928, the Minister of Agriculture hereby publishes the result of the first election of members of the Te Puke Rabbit Board, namely,

James Bennett,
Jack Gordon Fagan,
Walter Kingsley Jones,
Alexander Grant McCallum Kirkpatrick Simpson, and George William Whiteside.

Dated at Wellington, this 9th day of October 1952.

K. J. HOLYOAKE, Minister of Agriculture.

(Ag. 64/1/241)

Waterfront Industry Emergency Regulations 1946, Amendment No. 10—Notification of Appointment of Napier Port Conciliation Committee

PURSUANT to the Waterfront Industry Emergency Regulations 1946, Amendment No. 10, the Minister of Labour doth hereby notify the appointment of the following persons as the Port Conciliation Committee for the Port of Napier for a term expiring on the 30th day of April 1953 :—

Patrick Francis Higgins, Chairman ;

and

Douglas Alfred Irwin,
Arthur Albert Sinclair, and
Hilton Smith

(nominated by the New Zealand Port Employers Association Industrial Association of Employers); and Marius Bertyl Feil, Robert Hynes, and Herbert James Morton

(nominated by Napier Waterfront Workers Industrial Union of Workers).

Dated at Wellington, this 8th day of October 1952.

W. SULLIVAN, Minister of Labour.

The Sharebrokers Act 1908—Amendments to the Rules of the Stock Exchange Association of New Zealand

His Excellency the Administrator of the Government in Council has been pleased to approve the following amendments to the rules of the Stock Exchange Association of New Zealand.

AMENDMENTS TO RULES

Rules 105, 106, 107, and 108 revoked, and the following new Rules 105, 106, 107, and 108 substituted therefor :—

“ Rule 105. The right of quotation on the Official List shall be granted only by the Association and upon such terms and conditions as it may generally or in any particular case, from time to time determine.

“Rule 106 (a). A Company desiring to have its shares or any class or classes of its shares granted the right of quotation on the Official List shall make application in that behalf to the Affiliated Exchange nearest its Head Office and pay the fee hereinafter provided and such Exchange shall forward such application, together with its recommendation, to the Association.

“On each application an examination fee of £10 10s. shall be paid by the Company making the application to such Exchange, which shall in turn pay £4 4s. thereout to the Association provided that if at a subsequent date such Company shall make application for the right of quotation on the Official List of another class of its shares, then the examination fee in respect thereof shall be £7 7s. of which £3 3s. shall be paid to the Association. In the event of the grant of such right being refused such fee shall not be returnable.

“(b) The Association may without assigning any reason refuse to grant such shares or any class of such shares the right of quotation on the Official List, and similarly may at any future time suspend or cancel such right of quotation. Such right shall also be cancelled when the Association is so requested by a resolution of the shareholders of the Company.

“(c) The Association may grant by way of courtesy and without payment of any fee the right of quotation on the Official List of any class of shares of a Company registered outside New Zealand in respect of which the right of quotation on its Official List has been granted by a recognised Stock Exchange outside New Zealand.

Rule 107. The Chairman of an Affiliated Exchange may on the request of a member grant the right of quotation on the Unofficial List of the shares of any public company subject to such conditions as the Association may from time to time prescribe and to such further conditions as the Chairman may deem desirable in the particular case.

“The Unofficial List shall be clearly marked as such and shall state that transactions in the shares appearing thereon are subject to a special rate of brokerage.

“Rule 108. Failing any ruling by the Executive to the contrary, no quotation of stock or shares shall be accepted at an official call :—

“(i) Until the issue of allotment letters or other evidence of entitlement in cases where shares are allotted pursuant to an application therefor in response to an invitation by the Company to apply for the same without any guarantee by the Company of such allotment; or

“(ii) Until the day following the last day fixed for the acceptance in cases where the Company has offered a specific number of shares to a shareholder or his nominee.

The date of any sale made pursuant to such quotation shall for the purpose of delivery under Rule 79 be deemed to be the day on which advice is received by the Association that the Stock or Share Register is prepared sufficiently for the marking of transfers. A transaction under this rule shall not be deemed to be a time bargain or forward sale.”

Rules 119, 120, 121, 122, and 123 revoked, and the following new Rules 119, 120, 121, 122, and 123 substituted therefor :—

“Rule 119. No member of an Affiliated Exchange shall act as broker to, or be associated with any flotation where a prospectus or other document soliciting application for shares, or capable of promoting inquiries for the shares of a particular company is issued to persons other than the Directors or employees of a company or their wives unless consent of the Committee of an Affiliated Exchange in that behalf has first been given. Application for such consent shall be made by a member to the Exchange of which he is a member or by a non-member to the Exchange situated nearest to the Head Office of such company.

“The word ‘flotation’ where used herein shall not include the issue of Debentures or Stock by the New Zealand Government or by a local body within New Zealand, nor shall it have any application to the formation of a private Company nor to the increasing of the capital of a private company. The Chairman of an Affiliated Exchange may if in his opinion circumstances so warrant grant exemption from the operation of this Rule in any particular case.

“Rule 120. A consent given to any one member pursuant to the foregoing Rule to act as broker to, or be associated with a flotation, shall be deemed to be authority for all other members to be associated with that flotation, but shall not confer upon such other members any right to demand to be allowed to place portion of the issue.

“Rule 121. In each case in which consent to act as broker to or to be associated with any flotation is given pursuant to Rule 119, unless the Committee of the Affiliated Exchange in granting such consent shall (in any particular case) direct otherwise, there shall be endorsed upon the relevant prospectus or other document soliciting applications for shares or capable of promoting inquiries for the shares, the following endorsement : ‘The ....... Stock Exchange has authorized members of Affiliated Stock Exchanges to act on this flotation’.

“Rule 122. A fee of £5 5s. shall be paid in respect of any application for authority to act or be associated with a flotation.

“Rule 123. No broker shall send or deliver by post or otherwise or cause to be sent or delivered as aforesaid to any person other than a client any communication in relation to share or stockbroking business or interview or cause to be interviewed by his servant or agent any person not his client, provided nevertheless the Committee of an Affiliated Exchange may in the case of new flotations or of increases of capital authorize a member to solicit applications from persons not his clients upon terms and in such manner as such Committee shall approve.

“For the purposes of this Rule a client means and includes a person, firm, Association, or Body Corporate for whom a broker has carried out share and/or stock broking business at any time within the period of five years immediately preceding the sending of any such communication as aforesaid, and communication means and includes every form of invitation direct or indirect to transact or pass share and/or stock broking business through the broker making the communication or through any other broker named in the communication.

“The Penalty for a breach of this Rule shall be a fine not exceeding £100.”

Dated at Wellington, this 8th day of October 1952.

CHAS. M. BOWDEN, Minister of Stamp Duties.

(S.D. H.O. 15/4/-)

Approval of Testing Officer Under the Motor Drivers Regulations 1940

PURSUANT to regulation 5 of the Motor Drivers Regulations 1940, the Minister of Transport hereby approves of the person named in Column 2 of the Schedule hereunder being a testing officer under the said regulations for the authority specified in Column 1 of the said Schedule.

SCHEDULE

Column 1.
Mount Eden Borough Council .

Column 2.
John Whitman Kerr.

Dated at Wellington, this 6th day of October 1952.

W. S. GOOSMAN, Minister of Transport.