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Special Committee Companies Bill, 1962 debate -
Tuesday, 2 Apr 1963

SECTION 209.

Question proposed : "That Section 209 stand part of the Bill."

Is this the same as the law at present ?

It is the same as Section 125 of the 1908 Act, with a slight change. In the 1908 Act, under the statute of limitations that operated at that time, this type of debt could be recovered within 20 years from the date on which the cause of action accrued. That law has been changed and the period now is 12 years. This section is to bring the old provision into conformity with the new statute of limitations.

This action to recover a debt may be brought any time after the expiration of 12 years from the date on which the cause of action accrued. I take it that, if a person is liable as a contributory to make a contribution, that contribution is to be made by him, if he is alive, or by his legal personal representatives if he is dead. Supposing a person dies and his estate is wound up and everything distributed, is it possible for those who assume the role of his executors, to be made liable to make payment or to say before final payment is made that it is an accrued liability in respect of the deceased's association with any particular company ?

The liability of personal representatives would surely have expired long before 12 years.

I would like to shorten the period in which you can get after the executors if the wealth has been distributed long since.

Question put and agreed to.
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