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Business Groups Incorporation Regulation 1974

This reprint of this Statutory Instrument incorporates all amendments, if any, made before25 November 2006 and in force at  1 July 2001.

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Legislative Counsel
Dated 25 November 2006

INDEPENDENT STATE OF PAPUA NEW GUINEA.

Chapter 144.

Business Groups Incorporation Regulation 1974

ARRANGEMENT OF SECTIONS.

Business Groups Incorporation Regulation 1974

MADE under the Business Groups Incorporation Act 1974.

Dated                   200 .

1. REGISTERS OF BUSINESS GROUPS.

(1) The Registrar shall keep or shall cause to be kept the register or registers of business groups in an orderly manner with sufficient references and indexes to facilitate searching of the particulars contained in the register or registers.

(2) An entry in a register or a document supporting or evidencing an entry in a register may be removed or destroyed by the Registrar if he is satisfied that the entry or document–

(a) is no longer in effect; and

(b) has not had effect in respect of a registered entry for at least seven years.

2. REGISTER OF CHARGES.

The register of fixed charges shall be in Form 1.

3. SATISFACTION OF CHARGE.

The memorandum of satisfaction of a registered charge shall be in Form 2.

4. ORDER OF DISSOLUTION, ETC.

The order of dissolution and the vesting of property of a business group on the winding-up of the group shall be in Form 3.

5. PROCEDURE ON REFERENCES OF DISPUTES TO COURTS.

Where a dispute is referred to a court, the dispute-settlement authority shall–

(a) advise the parties to the dispute orally or in writing; and

(b) advise the magistrate, clerk or registrar, as the case requires, of the court that has jurisdiction in the matter–

(i) that he is the dispute-settlement authority for the group; and

(ii) of the names of the parties to the dispute; and

(iii) of the existence and nature of the dispute; and

(iv) that he is of the opinion that the court may be able to settle the dispute.

6. PEES PAYABLE.

The fees specified in Schedule 2 are payable in accordance with that Schedule in respect of the matters and things so specified.

SCHEDULE 1

PAPUA NEW GUINEA.

Business Groups Incorporation Act 1974.

Form 1 – Register of Charges.

Reg., Sec. 2 Form 1

PAPUA NEW GUINEA.

Business Groups Incorporation Act 1974.

Form 2 – Memorandum of Satisfaction of Charge.

Reg. Sec. 3. Form 2.

PAPUA NEW GUINEA.

Business Groups Incorporation Act 1974.

Form 3 – Order of Dissolution and Vesting of property.

Reg., Sec. 4. Form 3.

SCHEDULE 2 – ^[1]FEES TO BE PAID TO THE REGISTRAR.

Reg. Sec 6.

Office of Legislative Counsel, PNG

1. ^[1]Schedule 2 repealed and replaced by Business Groups Incorporation (Amendment) Regulation 1986 (No. 17 of 1986); repealed and replaced by Business Groups Incorporation (Amendment) Regulation 1994 (No. 12 of 1994).