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Companies (Amendment) Act 2011

PAPUA NEW GUINEA

Companies (Amendment) Act 2011.

No. 17 of 2011.

Certified on: 24 FEB 2012

Companies (Amendment) Act 2011.

ARRANGEMENT OF SECTIONS.

1. Interpretation (Amendment of Section 1).
2. Repeal of Part XIII.
3. Notice of Intention To Remove Where Company Has Ceased To Carry On Business (Amendment of Section 367).
4. Notice of Intention To Remove In Other Cases (Amendment of Section 368).
5. Repeal of Schedule 15.

No. 17 of 2011

An ACT

Entitled

Companies (Amendment) Act 2011.

Being an Act to amend the Companies Act 1997,

MADE by the National Parliament to come into operation in accordance with a notice in the National Gazette by the Head of State, acting with, and in accordance with, the advice of the Minister.

1. INTERPRETATION (AMENDMENT OF SECTION 1).

Section 2(1) of the Principal Act is amended in the definition of "charge" by inserting after the words and figures "Section 361," the following words:–

"and a right or interest in relation to property of a company that arises in a transaction subject to the Personal Property Security Act 2011,"

2. REPEAL OF PART XIII.

Part XIII of the Principal Act is repealed

3. NOTICE OF INTENTION TO REMOVE WHERE COMPANY HAS CEASED TO CARRY ON BUSINESS (AMENDMENT OF SECTION 367).

Section 367(1) of the Principal Act is amended in Paragraph (b) by repealing the words, "charge registered under Part XIII" and replacing it with the following words:–

"registered charge"

4. NOTICE OF INTENTION TO REMOVE IN OTHER CASES (AMENDMENT OF SECTION 368).

Section 368(3) of the Principal Act is amended in Paragraph (b) by repealing the words, "charge registered under Part XIII" and replacing it with the following words:–

"registered charge"

5. REPEAL OF SCHEDULE 15.

Schedule 15 of the Principal Act is hereby repealed.

_______________

I hereby certify that the above is a fair print of the Companies (Amendment) Act 2011 which has been made by the National Parliament.

Clerk of the National Parliament.
24 FEB 2012

I hereby certify that the Companies (Amendment) Act 2011 was made by the National Parliament on 09 December 2011, with an absolute majority in accordance with the Constitution.

Speaker of the National Parliament.
24 FEB 2012