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Lorsque le document est trop grand pour Atra raproduit en un seui clichA, 11 est filmA d partir de I'angle supArieur gauche, de gauche A droite, et de haut en bas, en prenant le nombre d'imagas nAcessaira. Las diagrammes suivants iiiustrent ia mAthoda. y errata id to It ie pelure, pon d 1 2 3 32X 1 2 3 1 4 5 6 ]!mauML&m^ kS5i.C:L..„. « I i\ /'V 711 AN ACT TO AUTHOIMZi: THE GRANTING OF OF lllCIIKr«R.\Tii TO li, AND AMENDMENT. ar-2N Vicloriu, Cap. 2;t. i2!> Vicloriii, Cap. 20. \ OTTAWA: PRINTED BY MALCOLM CAMERON, Law Printer to llm Qiifcn'.s Most Excellent Majesty. ^ 5^ ..:^ U) : : .:•./: ;.: ••• ;•: .-. .-. ; : ..;. .... ••• : ••• •• : .'. '.• : ..: :.: •..•*•: .*. .*: .*. : •: /. .-. ••: .-. ...••• I .»• AlWO VICKSLMO-SEI'TIMO & VICKSIMO-OCTAVO VICTOR 1 jK R E G I N /V] CAP. XXIII. All Act to authorize tlie grantin*^ of Charters of Incor- poration to JManiifucturiiig, Mining-, and other Com- panies. [Assented to SOlh June^ 186 I.] 'Vl/' IIRREAS it is 'expedient to antliorizo tlio incorporfition Preambu f f by Letters Patent of Companies for Manufacturing, Mining, and other purposes, and to jMovide that certain gene- ral clauses of this Act shall apply to all Companies so incorpo- rated : 'therefore, Her Majesty, i)y and with the advice and consent of the Legislative Council and Assembly of Canada, enacts as follows : I. The Governor in Council may, by Letters Patent under charters i.y the Great Seal of the Province, grant a Charter of Incorporation i -otters I'atent to any number of persons not less than five, who shall petitioi ! '"Cmimnie'r' therefor, and constitute such persons and others who may '^''•'"■f'""'" become shareholders in such Company, a body corporate and puses'" """' politic, for any of the following purposes ; 1. Carrying on any kind of manufacturing, shipbuilding, i'„rposes mechanical, or chemical business ; enuraerated. 2. Mining for Gold, Silver, Copper, or other Metals or Ores ; or for Coal, Plumbago or other Minerals ; 3. Washing, dressing, smelting and otherwise preparing for market the ores of all kinds of meials ; 4. Ereciion of dams, sluices and other hydraulic apparatus for excavating and washing auriferous earth in the process of gold mining ; 5. Opening and working quarries of Marble, Slate or other economic minerals, or mineral substances and the manufacture, exportation and sale thereof ; 1* .| Cap. 23. (Viarlers lo Mining Conipanieity Sfc. 27 28 Vict. G. Hoiinijf for, opcninj^ nnd using Pclrolrnm, nail or oilier iiiiiicijil springs ; 7. Kr»'(li(in and niuintcnanco of any i)iiil(ling or hnildings Id !)(' Used in wliolf or pari, as a Mechanics' histiliile, or I'liblic Iteading or Keclurc Hooni, or as a I'uhlic Hold, or as Hallis or Halli Houses, or lor Agricnilnral or Horticulliiral Fairs or Mxliiliilions, or for Kdiu-aiional, Library, Scicniilic or Kcligious purposes ; S. ("arrying on of any Fishery or Fisheries in this I'rovincn or liar walers llicrelo adjacent, or in the (Julf ofSt Lawrrnee, and ihe i)uildiug and e(piip|)ing of any vessels for such Fishery or Fi>heries ; 9. Carrying on of any forwarding husiness, nnd the cons- trnciioii, owning, chartering, or h-asing of ships, stciniiboats, wharves, roads or other projjerly rcipiired for the purpose of such forwarding business ; 10. Aecpiiring or constructing and maintaining any plank, macadamized or gravelled lload, or any Bridge, IMer, Wharf, Dry Dock, or Marine Railway ; ciinrters for And such Charter of incorporation maybe granted to any purport. suiuWr ^^ Comoanv for any two or more of the purposes mention(!d 3, Jaiici;!. m the paragraphs numbered two, three, lour and live ol this section, Prt-vioiii noiire *J. The applicants for a Charter und('r the authority of this ilic'of'w"'" -^^''i '""^' ?^'\'*' 'It least one month's previous notice in the Gazttte. Canada (inzdlc of their intention to apply for such Charier, staling tliciein ; What to con- tnia. 1. The names in full and the places of rcsidenc*^ of the applicants, to the number of five at least ; 2. The proposed corporate name of llie Company ; 3. The object or purpose for which Incorporation is sought ; 4. The plac(! or places where the operations of the Company are to be carried on ; 5. The amount of the nominal capital of the Company ; C. The number of shares and amount of each share ; 7. The amount of the stock subscribed ; 8. The amount paid in, or to be paid in before the Chaiter is granted. f 28 Vict. It or other l)iiil(lin!,'s tiliilc, or Did, or as rticiilliiriil icnlif'K! or Provin(!(r ,;iu rriice, Ii Fishery the <-ons- riin>l)<);its, )iir|)os« of ny |)Iank, 'r, Wharf, eel to any nentione*! ivo of this ily of this ice in the I Charter, ce of the 3 sought ; Company ISGI. Chatlvra to Mining Companies, S^c. Cap 23. Ill 3. Hpfore Letters l'al(>nt are isrsued, in which tlie lore- ivinninnry goiiiuf parliculiirs shall bo recited, the; applieanis therefor ^'""^"i""'- iniisl prove fo the satisfaction of the Minister, or ollieer to whom the duty of report in;^ th(!rt!on may he assii^netl, — that the |)ropose(| corporate name; is not that of any other A»t" nnmi', known Company; that one or more; of the np|)iieanls is a resi- ' '' dent of tliis I'lovince and a British siil)je(!t l)y birth or natnra- Jiz ition ; that not less than one half of the proposed capital SiiiiMripi,..ti Btock has i)ecn subscril)ed in <^ood faith, ami that at least ten ;'"'' {'','•„'!""" piT (UMit thereof, or five percent of the whole capital, when it t'in'.itiii.' does ri(»t exceed five Initidred thousand dolhirs, has been paid in to the credit of Trustees for the Cou.pany and still remains at the credit of the said 'rriislees in some one or more of the Char- tered Hanks »)f this Provincic, but if the proposed (lapital of the Company exceeds (iv(' himdrcd thousaml dollars, then il will be Millieient to prov«! that tim sum of twenty-five llumsand dollars, has been paid in and remains at the credit of the Compiiiyas aforesaid; Provided always, that whenever the iVovi-.. : pan ('omitanv prooosed 'o be incorporated, is formed for a purpose I'l '■'iniiil m ii)r tlie carrymi,' out ol which it isnecessaryth.it they should possess real estate, then it shall be sulli(!ien! that the iipplicants prove to the satisfaction of the Minister or ollieer to whom the "'i"p III, , , ■ 1 1 -I'll Pdwiis I ( smil .-hall hi- a lioly corporale liy tlic nanie (•.)iilaiiieil iii llie LiMters ..iiaiimd cmhh- PaleiV, eapal)le i'orlhwilh of exercising,' all the fiiiictions of an P'"''^-"- incorpoiated (^»mj)atiy as if ineorpora'.cd by a Special Act of Parliament, and liavini,' perpetual sueees>i()u and a couuuon se.d, wiih power to ac(iuire, !mM, alienate and convey any real csiate necess ny or reijuisiit; I'or the earryinj; on ol its operatinns; aad ilie said Letle--- J'.ilenI shall b' conclusive eviil'iiT lli;u all the reciuisilions of ihis Act have been complied with; and any copy of such Lciters I'aleiit purport inuf lo be (,^,|.,^||^,^, ^.^ ,^ certilied by iIk; Provincial Secretary an I Keifisliar or his i>i ciiariiTs. D.'puty, under liis hand, shall l)e evideneo of llie contents of HiU!!i Letters Piilcnl in all ('(jurtr ami lilac •s in this Province. lany »~. !'. cry Coiiipiny inc irpora'cd unler llic liUt'ioiily of this c.iiiiin pruvi- Ac.t, shall be sulijecl lo the |i)llo\vin:( i,n'ni'ral provisions ol' Law, •••""•* '" i'^' wiiicli shall Ik' em!K)dieil and s;'l lo.lh in lliclr Leliers Paleut : ;;^h';';w'."' Tkr (ie/icr.d Provisions. ic Charter 1. 'I'he affairs of llie (Company shall be rnaiiMi^'cd by a Hoard i)„,.,.( ,r. ot not less than thnn-, nor more than nine JJireciors ; 6 Pirtl DirtTtor*. (^Ilillllicilliull, (Oli'ctiiiii. A^ lo eii'riioiiK, wliiii ni'l olht'rwjsc pruviilvil I'lT. VHr.inrit.s. I'a'.siilt'iil. Ill I'iise of r.iiliirf o( Krliiill. I'oWi.i> of I)i- rt'i.-loi.<. fower 111 iiinkt I'y-lilWs ; IMI.I I'lr \vli;il ( iir- C!i|». '2'^. Chartii'H to iMining Companies, i^c. 27-i.'8 Vict '■1. 'I'lir pi'r^ons iirunctl iis mkIi, in llic I.rtlcrs I'ntcnl, "^luill 1)1' ilii' Din-ciuis ol'tlic Coiiipiiny, iiiilil irplaccd by nilur?* duly rlio«Mi ill ihi'ir .-trad ; .1. No person shall be cl'Mtcd or cIkisch as a Dirrctor llirn'- al'lrr, unless III' is a Sliarolioldcr, owiiiii;^ Slock ahsolntely in liis own ri^lil, and not in ariear in respect ol' any call tluTcon ; I. The aller Directors ol' the Company shall hr elected l>y tlie Sliaiclidlders, in general nu'etiiiLr ol the Coiiipiiny as>ein- liled, at such limes, in siieli \\ ise, and lor sncli term, as the l)y-la\\s of the ("oiupany may prescribe; T). in delaiilt only of other express provisions in suih behalf, by the iJy-laws oI'iIkj Company, — (d) Such election shall take phiee yearly, all the members ol' the Hoard iJ-tiriiiL,', and (if olhei wise (pialilied) being eligible for re-election ; (li) Notice of the time and place for holding general meetings «if the Company sli.ill be given at least ten days previoii«j|y ihereto, in some newspaper published iit or as near as may be \o \\h' oliiee or cliief place of business of the Company ; ((•) At all general meetings of the (Company, eveiy Share- holder >hall be entitled to as many votes as he own shares in the Company, and may vote by proxy ; [il] Flections of Directors shall be by ballot ; (r) Vacancies occurring in the Ihiaid of Dircciors may be lillcd for the unexpired remainder of the term, by the Hoard, i'roiu among the qiialilled SharchoKlcrs of the Company ; (/') 'i'he Directors shall from time to time elect fioii aMioiig t!ienis(dves a l*r(>sident of the Company ; and sh.dl also name, :'.nd may remove at pleasure, all other t)liiccrs thereof; G. If at any time an clecdon of Directors be not made or do not lake eirect at the proper time, the Company shall not be hel I lo be thereby dissolved; but siuh election may take phux' at any licneral nieeliiiL; ol the Company duly called for that ])i!rpo.-(- ; 7. 'ITic Direr tors of the Company shall have full power in all things to adminis'er the ad'aiis of the Company, and may make Dr <• ii:s(> l,) be made for the Cotiipany any desciipt'oii of contract which llie ('()m|)any may i>y law enter into; ami may fioni time to till!'- make l'.y-l;iws not contrary to law, to rc^alate tl'.e allotUK lit of Siork, I'le making of calls thereon, die pavmeiit thereof, the issue ,Mid registiation of ceitilicates •i.'8 Vict cnf, sliiill liciN (Inly tor llicn'- )liitcly in tlini'oii ; Icclril by y H^*^^■III- I, as till! h licliali; iiilicrs of eligible IlK'ctllHirS rcvioiisly s tii;iv be y Sliare- -liaics in may be ' UoartI, y; II aMiDii^; •() name, made or ill not be ike place for that power in iiul may ipt'oii of and may law, to tl:<'rcon. ilificates 18G1. Charters to Mining Companies^ SfC. Cup. 2J. of Sloel<, the forfeiture of Sloek for non-payinenl, tlie disposal of forfeited Stock and (tf the proceeds lliereol, tlie transfer ol StO(di, the declaration and payment of dividends, the number of the Dircj-ioiH, their term of service, the amount of their Stock (pialilieation, the a|)pointment, functions, iiiiics and removal of all agents, ollicers and servants of the Company, tile si'ciirity to be given by them to the Company, their remuneration and that (if any) of the Directors, tiic time at which and the place or places where the Animal Meetings of the Company shall be held, and where the business of the Coiiipaiiy >liall be eondiieted, and if the Company be a Mining Company, one (or more) of such places may be without this Province, — \\\r. calling of meetings, regular and special, of the Hoard of Directors, and of tin; Company, the (piornm, ihe reipiirements as to proxies, and the procedure in all things nt !>ucii meetings, the imposition and reirovery of all penalticH and forleiturcs admitting of regulatic by My-law, and the con- duct in all other particulars of the allairs of the Company; and may I'lom tiiiuMo time repeal, amend or re-enact the same; but every such By-law, and every repeal, amendment or ivovisoi Hy. r<'-cnactmcnt thereof, unless in the incantiiiif; eonrinncd at a Ihwm kmim Ih- ticneral Meeting of the Company duly called (or that purpose, |.','.",'.n,'i'i'iu'ei- uliall only have force until the next Aimual Meeting of the '"«''• Company, and in default (tf conlirmation thereat, shall, from lliat tifue only, c(!ase to have force ; H. j\ copy of any My-law of the Company, under tlii'ir seal, I'nuii ,,( liy nnd pmpoilirig to be signed by imy Ollieer of the Company, '''^^''' .shall be received as ;;rtuu/ /i/'/V' evidence of such By-law in alt Courts (»f Law or lupiity in this Province ; [). The std k of the Company shall be di .iiied per.-oiial estate, and s!i ill be transferable, in such manner only, and .subject to all such conditions and restrictions as by t/ic Lvtltrs Patrn', or by the By-laws of tin; Company, shall be prescribed ; 10. The Directors of the ('ompany may call in anil dcmaTid from the Sli.areholders thereof, r(!speelively, all sums of money by them sulxeriUed, at such time t.ntl places, and in such pay- ments or instalments, as the liy-laws of the Company may re(piire or allow ; and interest shall accrue and fall dui", at the rate of six per centum per annum, upon the amount of any vm- paid call, from the day appointed for payment of sueli (tall ; 11. \()t less than ten per eeiitum upon the allotted Stock of the(,'ompiny shall, bv means of one or more calls be calli'd in and ma'ie |)ayable within one year from the incorporation of the ("oiiipany; and for every year tliercarier, at least a fiiitlier ten per centum shall in like ihiiniier be called in and made payable, mitil the whole shall have been so calleil in ; IJ. TIk! Company may ciiioree payment of all ea'ils and interest thereon, by action in any eompeleiit Court ; and in 'tV inHCcr (I .S|0C|{. ("ll'ls II. I hloi'L, ItlllTC^l (Ml CUll.s lllljl.liil. Aiiioiinl 111 rails. IvitorciiiL.' |i:\viiit.Mil >>)■ callii. Cap. 23. Charters to Mining Companies, ilfc. 27-28 Vict. Wliat only iiiril he nl- IfgeJ and proved. froof. Forli'ittire for non-payiiicnc. such tu'lion it shall not bo necessary to sot foith iho special mailer, but it shall be snnicient to declare that the DcCcntlant is a holder of one share or more, stating the number of shares, and is indebted in the sum of money to which the calls in arrear amount, in respect of one call or more u|)on one share or more, stating the number of calls and the amount of each, whereby an action hath accrued to the Comjiany under this Act ; and a eertificale under their seal, and purporting to be signed by any Officer of the Company, to the cliiL'ct that tlie Defendant is a vShareholder, and that so much is shall i)e transferable, until all previous calls ij.i.d iiiiiiif thereon have biMMi liillv liaid in, or until di'dared foilciled for non-payiui'iit ol calls ihcrcon volt'. 15. No Shareholder being in arrear in res|X'cf of any caU sliall be entitled to vote at any meeting of tlif Coripany j Crinvsuin (n iiiiTi'nse «l !(!. 'I'lie Dirirtoi.- of the Coii)p:iny, if they -cf tit at wnx time afKT the wl'.olf ('.ipiial Sli«'k ol the Com])aiiy shall have been allotted and paid in, i)nt not sooner, may make a iiy-law for increasing the Capital Stock of the Comp.any to anv amount which they may considiM" reijuisite in order to the due cariying out (if llie (ibji'fts of the {('inpany ; but no mkIi l*>y-law shall have any force or elli'Ct Axliatcver, until after it shall have been sanctioned by a vote of not less than two-thirds in amount of all the shaicholdcis, at agi'neral iiieeling of tlie ('()Uij)any duly edied for the |mM)osi' of considering such I'jy-law, ina- until u copy thrn'of du'_. aulhentical<'d shall liavt' been Uled as lierein- alier mentioned with the k'rovincial Secretary or sucli other ollicer as the (.iovernor in (Council mav diri'ct; i«v-la\v fur 17. Any l)y-la^v lor I/icrea>ing llio Capital Stock ofiheConi- .ucrciiNo to pany, .-hall (h chuc the iiunilirr and vahu; of llie shares ol' tho luiii pr(,v,>ions. new IM(X'k ; ami may prestribe llie uianmr in whicli the same; shall he allollcd; an i in drfaiill of its so doing, the control of such allotment shall be h'dd to vest absolutely in the Din-dors; Ocl.iriiii.in ns 18, The Company mav, within six months after a duly to bcnicd" ''' authenticated copy of such iiy-law has been (iled witli the -28 Vict. n special rndant i» :urs, and in arri'ar or more, whoroby t ; !inil a (I by any l;int is a 1 unpaid MjLiity as iT-laws of ipon any by such i, in their ind duly ly shares DC shall iiid may dain ; )ws calls 'cited Ibi- any calJ 'y ■> any tiino ave been >-la\v lor amount canyiii<5 aw shall ave been noiint of any duly r until a s hcrein- eli olher he Coin- 's of the he ^amc! imtrol of iicclors ; a duly ■villi the 1864. Charters to Mining Companies; i^c. Cap. 23. Q Provincial Secretary, or such other ofllcer as ihc Governor in wiih Provm- Council rniiy have named for the pur|)()sc, reciuirc and cause tml Secretary, a notice uiuler «hc sii^Miaturc of the Provincial Secretary or olher NoUcoin proper olliecr, to be inserted in the Canada Gazette, that su(!h ('amu:. By-law has been passed and filed as aforesaid, and statini,' the nund)er and amount of ihe shares of new stock, the amount actually suliscribed, and the amount paid in in respect tlu-reof, and irom tlu; date of such notice the (Capital Stock of the Com- pany shall be and remain increased, to the amount, in the manner and subject to the Ci/adilions, set forth by such By-law, and the new Slock shall become subject to all die provisions of law in like manner, (so far as may be) as though the same had h)rmed piut of ihe Stock of the Company originally subscribed ; 19. The Company shall cause a hook or books lo be kept n„oks to i)e by the Sec-retary, or by some other Ollicer specially charged I'l'pi- with that duty, wherein shall be kept rect)r(led — 1. A correct cojiy of the [jMlers Patent incuirporating the wimt to con- Company, as also, of any and every IJy-law thereof ; '"'"• 2. The names, alphabetically arranged, of all persons who arc or have been Shareholders ; 3. The address and calling of every such person, while such Shareholder: 4. The number of shares of stock held by each Shareholder; 5. The Miiiounls piid in, and I'Muaining unpaid, respi-ctively, on the slock of each Sh.U'eiioKIci- ; (i. All Iran-^fcrs of slock, in ll.cir order as presiMiled to the Co:!ipiriy lor entry, with llic date and oilier pailicuhirs oi'i!acli traiislcr, and the dale of the en ly thereof; and — 7. 'idle names, addresses and calling, of all persons w lio are or lia\c I (■( n Diicctois of the Company ; with llie se\cial dales at wliicii c ich became or ceased to l.-e such Diri'ctor; 20, The Diiccioss may Kd'iisi' to allow the entry into any (-)i,-,.,.|ors may such book, of any iransi'er oi' Slock whereof the whole amoiml ;|,^^;''|'',',^^,,- has not lu'( II paid in ; and no tran'ler made with the view of mIuU m .'oi- rtdieviii'^ the traii>f ror tioni picc\i>lin^ debts oi the Coiiii)any, launa.-cs. shall lie \ .did or prevent any ;intec(Nlcnt h'ior in the samt; way as it he iiad contii'ined to be a Shaieholder in such Company; pro- rmviso-. as ii. vided, that nothing in this sub-section shall prevent the elfect ^^'^y^;/,f^';,^" '" of cliaplcr M'vcniN of the ('onMilidated Slalnles of (,'anada, US rcyai'ds ;',iiv r-ueh stoi k seized and sold in execution ; 10 Cap. 23. Charters to Mining Companies, tfc. 27-28 Vict. Efftict of 21. No transfer of Stock sliall be valid for any purpose transftr iimiiwl ■^yiiatpvcr, savc onlv as oxliibilin'' tlic ri'Hits of the parlies uiiUl alloweil. ' , • '^ 1 • I !• tlicreto towards oacli oilier, and as rcnilerini^ the transleree liable ad interim jointly and severally with the transferor, lo the Company and iheir creditors, — until entry thereof Ikjs been duly made in such book or books ; Books to Ix; open lo !?ti)('lilu)l(lor« 22. Such book shall, durinii; reasonable business hours of every day, except Sundays anil obliijalory holidays ( /'rVrv irobli- and Croliior.s ^rt//o//,) be kc])! Open for the inspection of Khiircholdcrs and oi Conipaiiy. credilors of tlu; Company, and their personal representatives, at the ollice or chief place of business of tlu^ Company; and every such Shareholder, creditor or rei)resentative, in;jy make extracts therefrom ; KfTectflsevi- 23. Sucli books shall be />mju/ /(/r/c evidence of all facts '^'-'"'''^- purporting to be thereby stilled, in any suit or proceeding against the Company or against any Shareholder; Ponnlly for nial;iii:; \\\\- ituti entiies. Company net bound to SVC to Trusts oil slinrt's. (\)ntrrt(l<, \'i'., liy till! Company : llOW lo 1)1-' 0X0- {:uli'(l. 21. Every Director, ofhcer or servant of the Company, who knowingly makes or assists t > make any imlrue eiiiry in any such book, or who refuses or neglects to make any |)rop(!r entry therein, or to exhibit the same, or to allow the same lo be inspected and extracts to be taken therefrom, shall be liable to a penalty not exceeding twenty dollars for maliiiig each such untrue entry and for each such refusal or neL,dect, and also for all loss or damage which any party intere-ted luay have sustained thereby ; 25. The Company sliall not be bound to see to the exeiailion of any trust, whelher express, implied or* coiistruelive, in resp 'ct of any shares; and ih" receipt of ihi" Shareholder in who>e name the same miy stand in the bojks of the Comiiany, shall bi; a valid and l)inding discharge to the ("omp my for any dividend or money payable in respect of such shares, and whether or not notice of such trust shall have been given to the Company ; and the Company shall iiol be bound lo set; to the application of the money paid upon such ieccij)t ; 20. Ev(>ry contract, ngreeinent, cnga<,'emenl or bargain made, and every bill of exehaiige drawn, accepted or en lorsed, and I VI i-y proiiiissoiy note and cheque made, drawn or endorsed on l;chalf of the Company, by any au; 'iit, o!lieer or servant of the Company, in g.meral aecordan-t! with liis powers as such under the I5ydaws of the Coiiip iiiv, shall he binding upon the CoMipniy; and in no ease sliall it hi' iieee-sary lo have llie seal of llic ('oiiipany a(li\ed lo any such contract, agreement, engagement, bargain, bill of exchange, pr(nni>sory nolo or chetjU'', or to prove that the same was made, drawn, accepted or endorsed, as the c;!s.' may be, in piirsiiam e of any By-law, o;' special vole or order ; nor shall llie p uty s > acting as agent, ollicer or servant of the Company, be iheieby sib- 180-1. Charters to BTming Companies, (J'C. Cap. 23, 11 purpose jcctt'd individually t. Tiiy liability wlialeocvcr to any third pitrly, llicrcfor ; pi:' d, ahvay?=, iliat nolliing in this section Proviso: as lo nliall be conslnird to \;iliorizo the Company to issue any note; I'auk-iioies. payal)ldilois ^''"f'-'''"''''^™' (»r the (-'oinpany, to an amount e(piai 1t> that not paid up tlKTcon ; but shall not be liable to an action therefor by any creditor, before an execution aijainst the Company has been returned unsatisfied in whole or in part ; and the lunount due on such execution shall hv the amount recoverable, with costs, against such Shareholders ; 2H. Thf Shareholders of t!ie Company shall not as sucii be i^,||,iiiiyof held resp(in?yond the amount of their rcspi'clivi' shares in the capital stock thereof; As to Slock hikl hy piT- soii> ill a re- proseiilalive capacity. 2!b No person holding stock in the company as an (>xinn- lor, admiuislralor, tutor, ciuator, guardian or truslcM', sliall l)e peisoiially subject to liability as a Shareholder, but the estates and funds in the hands of such person, shall be liabh; in lik(> manner, and to the same extent, as the testator o. iiilestatt", or till- minor, ward or inli'rdicled person, or the person interested ill such trust fund, would ije, if living and competent lo act, and holding such stock in his own name; and no person holding such stock as ct)llaleral security, shall be personally suli|ecl to such liability, but th(! person pledging such stock shall l;c coiisidere(l as holding the sjuiie, and shall be liable as a Shareholder accordingly; .'iO. Kvery such executor, administrator, tutor, curator, gna"- Votin-on dian or trustee, shall re|)rescnt the stock in his hands, at all ^"^1' -'•J'k- meeiings of iIk; Company, and may vo!(> aecoidiiigly as a Shaicholder ; and every person who pledges his stock may tievcrilHdei'S represent the same at all such meetings, and may vole accordingly as a Shareholder; .'il. If the Dircclois of the ('ompany declare and l>ay any p^.„^.,y f,,, dividend when the Company is insolvent, or any divilend riiyiiiKdivi- lli(( payment of which renders the Company insolvent, or (■^,'111?.;^^,^''^ (bili'iii>lies th(! capital stock thereof, tlicy shall be jointly in-^oivoiii.&e. and severally liable, as well to the Company as to ihc indivi- dual Shaiehohh-rs and credilors tlieicor, lor all the debN cf \\\{\ C!ompaiiv then existing, and for all tliereafler coiitracled during llifir colli iunance in (.Hire, respectively; but if any Director iiou- miy Diexiil \\|i"li such diviilelid i> (Irc'ared do ioitliwilh, i|' if aiiv " ''■'/"i" 'nny ' . , , , ... 1-1 !■ I I il "VOIlI swell Diicclor then a' sent by wiihm twenty-lour lioiirs alter \\c sliall imi.iiiiy. •^.^rt^T 12 Cap. 23. Charters to Minhij^ Companien, i^c. 27-28 Vict. • liiivo hcnomp aware tlioroof lunl al)lo so to do, enter on tlu' mi- nutes of the IJoiird of Directors his jirotcst ii<^ainst the same, iiMil do within ei^iil d:iys thereartcr pnhlisii sneh protest in at h'iist one newsp:iper pnt)lisii('d at, or as near as may h(> pos- sibh^ to, the oHice or chief phiee of business of the Company, siuh l)ir(H-tor may thereby, and not olherwisi", exonerate liiniself from sucli liability; Penalty for 32. No loan shall bo made by the Company to any Share- Itn.iMi}: Mu.m-y JioKler, and if siieli be made, all l)ii-e(;tors and oilier ollieers of to sloiUhoWc'is. , ,, I • , the Company making the s:irne, or m any wis(^ assentini» iherelo, shall bt; joinily and si-verally lial)le to the C(»mpany for the amount of such loan, — and also to third parlies, to the ext 'Ut of such loan wilh lei^al interest, — for all debts of the Company contracted from the time of llu; making of such loan to that of the re-payment theret)f ; Shnrt-lioMprs ;].']. Any description of action may be prosecuted and t?e«^or\v,N' maiiit lined between tlie Company and any Shareholder ihercof ; ni'ssis, wiitn aiid 110 Shandioldcr, not being himscll a |)aily to such suit, shall be ineompL'tent as a witness therein; (.'onipany is a parly. Forfoiturt' of rhiirti^r liy nou-uscr. 31. The Charter of the Company shall be forfi'ited by non- u^^cr during three c.iuseeulive years, at ;my one time, or if the Coaipany do not go inlo acliial operation williin three yc'ars afer it is gianled ; an 1 no declaralion of such forfeiture l)y any Act of the Legislature tihall be d"emc(l an infringement ol such Ciiarter, Certain pro- Vi.-iotis iii.iy tie oinlecii in any Cliaiur. il. The Governor in Council may, on tlie petition of the applicant-^, omit iVoui tlie Lelteis I'.iti'iH clauses eleven, s.Nleei), se\enleeii and eighteen, ■ f the next precteding section, or one or more of them and the Company shall not then bo subject to th<' said clauses. Fees and forms. 7. The (iovcrnor in Council may, from time to time, fix and regulate ilie fees to be jjaiil by applicants to l^etters I'alent uu ler this Act, may (lesignat(> the Department from which tliey shall b(! issued, and prescril'.e the forms of record and proceed ng, and all other m liters necessary for carrying out the object and purposes of this Act. HiL'liior ,<. f'vi'ry Company ineor|)o;-ated imdcM* tlu^ aiiihority of ihis !ahuirri4rn"i."(] '^''^' ^'"^" '*'' ^"l^.l'''' '<» >"'"'' further all I oilier provisions as the l/'gisliitiire may iKacal'ler dec iii expedient. r-28 Vict. n th(^ mi- lium sairio, test ill iit r 1)0 pos- [Jomp;iny, OXOlKTUtO iiy Sliiire- oliiiuTs of ass('nti!i!» inpiiny ior es, lo the bts of llie ■ yucli loan ')>t('(l and (