صور الصفحة
PDF
النشر الإلكتروني

than one, the receipt of one of the parties, shall from time to time be a sufficieni discharge to the Bank for any dividend or other sum of money payable in respect of such share, notwith standing 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.

One tenth of IX. It shall be the duty of the Directors of the said Bank to pailupCapital invest, as speedily as the Debentures hereinafter mentioned in Provincial can be procured from the Receiver General, and to keep inSecurities. vested at all times in the Debentures of this Province, payable

within the same, or of the Consolidated Níunicipal 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 oath and signature of the President and Chief Cashier or Manager of the said Bank to the Inspector General, in the month of January in each year, under the penalty of the

forfeiture of the Charter of the said Bank, in default of such inProviso.

vestment and returns: 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 Stock, Proviso. pursuant to this Act: And provided also, that the said power

hereby conferred to add to its Capital Stock shall cease and determine, unless the said Bank shall, by instrument under its corporate sea, signify to the Governor in Council, within one year after the passirg of this Act, its intention to avail itself of the said power to add to its Capital Stock, as aforesaid.

Duration of X. This Act and the Act of Incorporation of the said Bank, this Act and other Acts re.

and any Act amending the same, shall be and remain in force lating to the un'il the first day of January which will be in the year of our Bank.

Lord one thousand eight hundred and seventy, and from that time until the end of the then next Session of the Parliament of

this Province, any thing in the said Acts to the contrary notProviso.

withstanding : Provided always, that the extension of time in this Clause 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 in the next preceding Section.

Monthly XI. The Statement required by the twenty-eighth Section of siatements re: the Act passed in the fourth and fifth years of Her Majesty the or half-yearly Queen, intituled, An Act to extend tre Charter of the City Bank under 1 & 5 and to increase the Capital Stock thereof, to be made semi-anV. c. 97.

nually by the said Corporation, shall be made on the first Monday of each and every month, in the manner provided by the said Section of the said Act.

Public Act.

XII. This Act shall be deemed a Public Act.

CAP.

CAP. XLII.

[ocr errors]

The Baak may

An Act to authorize an addition to the Capital Stock of

the Commercial Bank of the Midland District, and to facilitate the Transfer of Shares in certain cases.

[Assented to 18th December, 1854 HEREAS the Commercial Bank of the Midland Dis- Prezinble.

trict haih prayed for authority to increase its Capital Stock, and to make Shares of its Stock transferable in the L'nited Kingdom, and it is expedient to grant the prayer of the said 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 Canulu, 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 Commercial Bank of the Midland District incorporated by an Act of the Par- add £5*0 liament of Upper Canada confirmed and extended by the to its Cajvial Act of the Parliament of this Province, passed in the sixth in shares of year of Her Majesty's Reign, intituled, An Act to extend The Charter of the Commercial Bank of the Midland District, GV, c. 26, and to increuse its Capital Stock, to add to its present Capital Stock the sum of five hundred thousand pounds currency, divided into twenty 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 said Bank shall from time to tiine establish ; and Instalmen's 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 called in, kt. appoint; and executors and administrators and curators paying instaiments 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 Proviso subscribed for, unless ten per centum thereof, at the least, be 10 per con paid at the time of subscribing; and that all the provisions of to be paid 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 instalments on shares subscribed for under this Act, shall be unpaid ; And provided also, that the said twenty thousand shares Provisa be subscribed for and wholly paid up within five years from and after the passing of this Act; Provided also, that the Mem- Proviso : bers of the said Corporation may at any time by a By-law increase of made for that purpose, either before or after the opening of the be restrickt. books of subscription for the said augmentation of Capital or any portion thereof, restrict the said augmentation of Capital,

cited.

on sich Bares how to le

to

to any amount they may judge more advantageous to the said
Bank.

Subscribers II. Provided always, That when any person or party, desimay pay in full on sub

rous of subscribing for shares of the additional Capital Stock scribing. authorized by this Act, shall also be willing to pay up at the

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

scriptions and full payment, together with such premium as at Premium may the time of subscribing, shall or may be agreed upon ; and in be taken.

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.

Shares may

III. Shares of the Capital Stock of the Bank may be made be made transterable

transferable, and the dividends accruing thereon may be made in the United payable in the United Kingdom, in like manner as such shares Kingdom. and dividends are now, respectively, transferable and payable

at the Bank in the City of Kingston ; 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.

1 1

Transmission IV. If the interest in any share in the said Bank become of Shares otherwise than

transmitted in consequence of the death, or bankruptcy, or inby regular solvency of any Shareholder, or in consequence of the martransfer to be riage of a Female Shareholder, or by any other lawful means authenticated by declaration,

than by a transfer according to the provisions of the Act of &c.

Incorporation of the said Bank, such transmission shall be 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 Proviso. thereof : Provided always, that every such declaration and instrument as by this and the following section of this Act is required

to

[ocr errors][merged small]

to perfect the transinission of a share of the Bank, which shall be
made in any other Conntry than in this or some other of the
British Colonies in North America, or in the United Kingdom
of Great Britain and Ireland, shall be further authenticated by
the British Consul or Vice-Consul, or other the accredited re-
presentative of the British Governinent in the Country where
the declaration shall be made, or shall be made directly before
such British Consul or Vice-Consul, or other accredited repre-
sentative: And provided also, thai nothing in this Act con- Proviso.
tained shall be held to detar ile Directors, Castier, or other
officer or agent of ihe Bank, from requiring corroborative evi-
dence of any faci or facts alleged in any such declaration.

V. If the transmission of any Share of the Bank be by Proof of transvirine of the marriage of a Female Shareholder, the declara- mission by tion shall contain a copy of the Register of such marriage, or boques, &c. other particulars of the celebration thereof, and shall declare the identity of the wife 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 therefrorn, shall, together with such declaration, he 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 Bank not to any trust, whether express, implied or constructive, to which be bound to

see to trust. 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 trusi 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 One tenth of invest, as speedily as the debentures hereinafter mentioned can paid up Capital be procured from the Receiver General, and to keep invested at to be invested all times, in the debentures of this Province payable within the Securities. same, or of the Consolidated Municipal Loan Fund, one tenth part of the whole paid up Capital of the said Bank, and 10 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 10

investment

Proviso,

Proviso.

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 Stock pursuant to this Act ; And provided also that the said power herehy 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.

Duration of this Act and

Bank.

VIII. This Act and the Act of Incorporation of the said

Bank and any Act amending the same, shall be and remain in lating to the force until the first day of January, which will be in the year

of Our Lord one thousand eight bundred and seventy, and from that time till the end of the then next Session of the Parliament of this Province, any ining in the said Act of Incor

poration contained to the contrary notwithstanding, and no Proviso. longer : Provided always, that the extension of time in this

clause 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 in the next preceding section.

Monthly IX. The statement required by the twenty-ninth section of statement re-, the first above cited Act to be made semi-annually by the said of half yearly. Corporation, shall be made on the first Monday of each and

every month, in the manner provided by the said section of the said Act.

Public Act.

X. This Act shall be deemed a Public Act.

CAP. XLIII.

Preamble.

An Act to increase the Capi al Stock of La Banque du
Peuple, and for other purposes.

[ Assented to 18th December, 185+.] HEREAS La Banque du Peuple has prayed to be per

mitted to increase its Capital Stock, and it is expedient to grant its prayer: 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:

Bank may add I. It shall be lawful for La Banque du Peuple to add to its £200,000 to its Stock. present Capital Stock, the sum of two hundred thousand pounds

currency,

« السابقةمتابعة »