CAP. XXXIX. ble. ink may An Act to authorize an addition to the Capital Stock of the Bank of Upper Canada, and to facilitate the Transfer of Shares in certain cases. [Asseated to 18th December, 1854.] HEREAS the Bank of Upper Canada hath prayed for authority to Perea e its Capital Stock, and to make Shares of its Slock trasterable in Great biitain, and it is expedient to grout the preyer of the said Petition: Be it therefore enacted by the Guca's Most Excellent Majesty, by and with the adv..e and com.cnt of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parilament of the United Kingdom of Great Britain and Leland, and intituled, An Act to re-unite the Provinces of Upper and Exarer Canada, and for the Governmert of Canudo, and it is hereby enacted by the authority of the same, as follows: 1. It shall and may be lawful for the Bank of Upper Canada, 00,000 incorporated by Aet of de Parliament of Upper Canada, conJapita'. firmed and extended by the Act of the Parliament of this es of 6 V. c. 27, cited. Province, passed in the sixth year of Her Majesty's Reign, intituled, An Art to "ervond the Charter of the Bank of Upper Canada and to increase the Capital Stock thereof, to add to its present Capital Stock th sum of five hundred thousand pounds currency, divided into forty thousand shares of twelve pounds and ten shilings each, vich shares shall and may be subscribed for, either in or out of this Province, in such proportions or numbers and at such times and places and under such regula tions as the Directors of the said Bank shall from time to time establish; and the shares subscribed for shall be paid in by nents on such instalments, and at such times and places as the Directors stall from time to time appoint, and executors and administrain, &c. tors and curators, paying instalments upon the shares of de hares, o be 30. cent to censed Shareholders, shall be and are hereby respectively indou nified for paying the same: Provided always, that no share shall be held to be lawfully subscribed for, unless ten per cend nowa. thereof, at the least, be paid at the time of subscribing, and that all the provisions of the fourth section of the said Act passed in the sixth year of Her Majesty's Reign, shall be applicable to all cases in which instaliments on shares subscribed for under this Act shall be unpaid: And provided also, that the said forty thousand shares be subscribed for and wholly paid up within five years from and after the passing of this Act: Provided also, that the Members of the said Corporation may at any time by a By-law made for that purpose, either before or after the opening of the books of subscription for the said augmentation of Capital or any portion thereof, restrict the said augmentation of Capital, to any amount they may judge more advantageous to the said Bank." 30. scribin II. Provided always, That when any person or party de- Subser sirons of subscribing for shares of the additional Capital Stock may p authorized by this Act, shall also be willing to pay up at the full o time of subscribing the full amount of the shares subscribed for, together with a premium thereon, it shall and may be lawful for the Directors of the Bank, and at any time within the aforesaid period of five years, to admit and receive such sub- Premium may scriptions and full payment, together with such premium as at be taken. the time of subscribing shall or may be agreed upon, and in every such case, the premium so received shall be carried to the account of the ordinary profits of the Bank; any thing in the said Act of Incorporation, or in this or any other Act or law, to the contrary notwithstanding. in the United III Shares of the Capital Stock of the Bank may be made shares may transferable, and the dividends accruing thereon may be made be made payable in the United Kingdom in like manner as such shares transferable and dividends are now respectively transferable and payable Kingdom. at the Bank in the City of Toronto, and to that end the Directors may from time to time make such rules and regulations, and prescribe such forms, and appoint such agent or agents as they may deem necessary. otherwise than IV. If the interest in any share in the said Bank become Transmizil transmitted in consequence of the death, or bankruptcy, or in- of Shares solvency, of any Shareholder, or in consequence of the mar- by regular riage of a Female Shareholder, or by any other lawful means transfer to be than by a transfer according to the provisions of the Act of authent by decl Incorporation of the said Bank, such transmission shall be &c. authenticated by a declaration in writing as hereinafter mentioned, or in such other manner as the Directors of the Bank shall require, and every such declaration shall distinctly state the manner in which, and the party to whom, such share shall have been so transmitted, and shall be by such party made and signed; and every such declaration shall be by the party making and signing the same, acknowledged before a Judge or Justice of a Court of Record, or before the Mayor, Provost, or Chief Magistrate of a City, Town, Borough or other place, or before a Public Notary, where the same shall be made and signed; and every such declaration, so signed and acknowledged, shall be left with the Cashier, or other officer or agent of the Bank, who shall thereupon enter the name of the party entitled under such transmission, in the Register of Shareholders; and until such transmission shall have been authenticated, no party or person claiming by virtue of any such transmission shall be entitled to receive any share of the profits of the Bank, nor to vote in respect of any such share as the holder thereof Provided always, that every such declaration and in- Proviso. strument as by this and the following section of this Act is required to perfect the transmission of a share of the Bauk, which shall be made in any other Country than in this or some other of the British Colonies in North America, or in the Proviso. Proof of tran smission by marriage, bequest, &c. Bank not to be bound to see to trust. One tenth of Capital to be Proviso. United Kingdom of Great Britain and Ireland, shall be further authenticated by the British Consul or Vice-Consul, or other the accredited representative of the British Government in the County where the declaration shall be made, or shall be made directly before such British Consul or Vice-Consul, or other accredited representative: And provided also, that nothing in this Act shall be held to debar the Directors, Cashier, or other Officer or Agent of the Bank, from requiring corroborative evidence of any fact or facts alleged in any such declaration. V. If the transmission of any Share of the Bank be by virtue of the marriage of a female Shareholder, the declaration shall contain a copy of the Register of such marriage, or other particulars of the celebration thereof, and shall declare the identity of the wie with the holder of such share; and if the transmission have taken place by virtue of any testamentary Instrument or by Intestacy, the Probate of the Will, or the Letters of Administration, or Act of Curatorship, or an official extract therefrom, shall, together with such declaration, be produced and left with the Cashier or other Officer or Agent of the Bank, who shall thereupon enter the name of the party entitled under such transmission, in the Register of Shareholders. VI. The Bank shall not be bound to see to the execution of any trust, whether express, implied or constructive, to which any of the Shares of the Bank may be subject, and the receipt of the party in whose name any such Share shall stand in the Books of the Bank, or if it stand in the names of more parties than one, the receipt of one of the parties, shall from time to time be a sufficient discharge to the Bank, for any dividend or other sum of money, payable in respect of such share, notwithstanding any trust to which such share may then be subject, and whether or not the Bank have had notice of such trust, and the Bank shall not be bound to see to the application of the money paid upon such receipt; any law or usage to the contrary notwithstanding. VII. It shall be the duty of the Directors of the said Bank to invest as speedily as the debentures hereinafter mentioned can be procured from the Receiver General, and to keep invested at all times, in the debentures of this Province, payable within the same, or of the Consolidated Municipal Loan Fund, one tenth part of the whole paid up Capital of the said Bank, and to make a return of the numbers and amount of such debentures, verified by the oaths and signatures of the President and Chief Cashier or Manager of the said Bank, to the Inspector General, in the month of January of each year, under the penalty of the forfeiture of the Charter of the said Bank, in default of such investment and return: Provided always, that the said Bank shall not be bound to invest any portion of its Capital in debentures under the provisions of this section, unless it shall avail itself of the power to add to its present Capital Capital Stock pursuant to this Act: And provided also, that Proviso. the said power hereby conferred to add to its Capital Stock shall cease and determine, unless the said Bank shall by an instrument under its Corporate Seal, signify to the Governor in Council, within one year after the passing of this Act, its intention to avail itself of the said power to add to its Capital Stock as aforesaid. of Act incor. VIII. This Act and the Act of Incorporation of the said Duration of Bank, and any Act amending the same, shail be and remain in this Act and force until the first day of January, which will be in the year porating the of our Lord one thousand eight hundred and seventy, and from Bank. that time till the end of the then next session of the Parliament of this Province, any thing in the said Act of Incorporation contained to the contrary notwithstanding, and no longer : Provided always, that the extension of time in this clause Proviso. enacted, shall not take place unless the said Bank shall signify its intention to add to its Capital Stock, within one year after the passing hereof, in the manner provided under the next preceding section. IX. The statement required by the twenty-seventh section of Monthly the first above cited Act, to be made semi-annually by the said statements Corporation, shall be made on the first Monday in each and place of halfevery month, in the manner provided by the said section of yearly. the said Act. X. This Act shall be deemed a Public Act. Public Act. CAP. XL. An Act to authorize an addition to the Capital Stock of the Quebec Bank, and for other purposes relative to the said Bank. W [Assented to 18th December, 1854.] HEREAS the Quebec Bank have prayed for authority to Preamble. increase their Capital Stock, and to make the Shares transferable in Great Britain, and it is expedient to grant the prayer of their petition: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, as follows: I. It shall and may be lawful for the Quebec Bank, constituted Bank may add and incorporated by an Act of the Parliament of this Province, £250,000 to its Capital passed in the Session held in the fourth and fifth years of Her Stock: to be Majesty's ments, &c., 4 & 5 V. c. 94, cited. paid by instal- Majesty's Reign, and intituled, An Act to extend the Charter of the Quebec Bank, to add to their present Capital Stock a further sum, not exceeding two hundred and fifty thousand pounds currency, divided into ten thousand Shares of twenty-five pounds each, which Shares shall and may be subscribed for, either in or out of this Province, in such proportions or numbers, and at such times and places, and under such regulations as the Directors of the Bank shall from time to time establish; and the Shares subscribed for shall be paid in by such instalments and at such times and places, as the Directors shall from time to time appoint, and executors, administrators and curators paying instalments upon the Shares of deceased Shareholders, shall be and are hereby respectively indemnified for paying the same Provided always, that no Share shall be held to be lawfully subscribed for, unless ten per centum thereof, at the least, be paid at the time of subscribing: And provided also, that the said ten thousand Shares be subscribed for and wholly paid up within five years from and after the passing of this Act: Provided also, that the Members of the said Corporation may at any time by a By-law made for that purpose, either before or after the opening of the books of subscription for the said augmentation of Capital or any portion thereof, restrict the said augmentation of Capital, to any amount they may judge more advantageous to the said Bank. Proviso. Proviso. Proviso: Increase of Capital may be restricted. Subscribers may pay up Stock at once, on certain conditions. Additional may be made transferable, &c., in Great Britain. II. Provided always, that when any person or party desirous of subscribing for Shares of the additional Capital Stock authorized by this Act, shall also be willing to pay up at or any time after the time of subscribing, the full amount of the Shares subscribed for, with such premium thereon (if any) as hereinafter mentioned, it shall and may be lawful for the Directors of the Bank, and at any time within the aforesaid period of five years, to admit and receive such subscriptions and full payment, together with such premium, as, at the time of subscribing, shall or may be agreed upon; and in every such case, the premium so received shall be carried to the account of the ordinary profits of the Bank; any thing in the said Act of Incorporation, or in this or any other Act or law, to the contrary notwithstanding. III. Shares of the additional Capital Stock authorized by Capital Stock this Act, may be made transferable, and the dividends accruing thereon may be made payable in Great Britain, in like manner as shares in the said Bank and dividends thereon are now respectively transferable and payable at the Bank in the City of Quebec, or in Great Britain; and to that end, the Directors may, from time to time, make such rules and regulations, and prescribe such forms, and appoint such agents or agent, as they may deem necessary. I irectors may IV. Provided always, that the Directors of the said Bank <pen books of shall not be compelled to open books of subscription for the whole |