I move amendment No. 205:
In page 116, line 40, after "officer,", to insert "auditor,".
SECTION 144.
Amendment agreed to.
I move amendment No. 206:
In page 17, to delete lines 8 to 13.
This technical amendment would remove subsection (3) from the revised section 183 of the principal Act being inserted by section 144 of the Bill. Section 144 of the Bill substitutes a new section 183 in the 1963 Act, which prohibited undischarged bankrupts acting as directors. The old subsection (2) of section 183 was a transitional saving provision for people who were bankrupts at the time when the 1963 Act came into force.
Section 144 (3) of the Bill re-enacts, with amendments, this saving provision but relates it to the date of coming into force of section 144. However, on reflection, re-enacting this saving provision does not appear desirable. First of all, as far as directors are concerned, there seems to be no good reason to be perpetuating now an exemption for people who were undischarged bankrupts in 1963. Secondly, the section now brings within its scope, for the first time, secretaries, liquidators and examiners. On re-examination there seems no good reason why undischarged bankrupts who act in these capacities should be given the free gift of immunity from conviction if they are acting in those capacities when the section comes into effect. The amendment, therefore, would simply delete subsection (3) from the revised section.
Amendment agreed to.
Section 144, as amended, agreed to.