Anderson & Munro, Ltd Petitioners [1924] ScotLR 108 (12 January 1924)

Anderson & Munro, Ltd Petitioners [1924] ScotLR 108 (12 January 1924)

The only remedy available under the statute for failure to file the required contract or particulars within the prescribed time is an application for extension of time under section 88(3). The omission was inadvertent, and the Court is satisfied it is just and equitable to grant relief by extending the time for filing the contract in writing.

Citation
[1924] ScotLR 108
Parties
Petitioner: Anderson & Munro, Limited
Jurisdiction
Scotland
Judgment Date
12 January 1924
Procedural Posture
Petition for Extension of Time to File Contract With Registrar Under Companies (consolidation) Act 1908 / Final Judgment on Petition
Outcome
Petition granted
Legal Topics
Allotment of Shares, Filing Requirements, Relief From Statutory Default, Extension of Time, Companies (consolidation) Act 1908 S.88
Company Law Allotment of Shares Filing Requirements Relief From Statutory Default Extension of Time Companies (consolidation) Act 1908 S.88

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Parties

Anderson & Munro, Limited

Petitioner

Procedural Posture

Petition for Extension of Time to File Contract With Registrar Under Companies (consolidation) Act 1908 / Final Judgment on Petition

Legal Issues

  1. 1 Whether the Court should grant an extension of time for filing a contract in writing relating to shares allotted otherwise than in cash, where the statutory particulars were not filed within the prescribed period under Companies (Consolidation) Act 1908, section 88.

Ratio Decidendi

The only remedy available under the statute for failure to file the required contract or particulars within the prescribed time is an application for extension of time under section 88(3). The omission was inadvertent, and the Court is satisfied it is just and equitable to grant relief by extending the time for filing the contract in writing.

Court Disposition

Petition granted

Orders

  • Extend the time for filing with the Registrar of Joint Stock Companies the contract in writing relating to the shares numbered 1001 to 3000 inclusive to 1 February 1924.
  • Direct that on filing such contract, it shall operate in relation to such shares as if it had been duly intimated to the Registrar before the issue of such shares.