Trustees (Amendment) Bill

This Act may be cited as the Trustees (Amendment) Act, 1970.

Paragraph (b) of subsection (2) of section 4 of the Trustees Act, 1967, is hereby amended —

by deleting the expression “; and” appearing at the end thereof and substituting therefor a colon; and

by inserting immediately thereafter the following proviso: —“Provided that where an approved company is or has been reconstructed and has taken over the business and assets of a company which has satisfied the requirements of this paragraph, such requirements shall be deemed to have been complied with by the company so reconstructed; and”.