IMAGE EVALUATION
TEST TARGET (MT-3)

.v<^.

1.0

I.I

1.25

M
1.8

1.4 il.6

//a

'^i

CIHM/ICMH

Microfiche

Series.

CIHM/ICMH
Collection de
microfiches.

Canadian Institute for Historical Microreproductions Institut Canadian de microreproductions historiques

1980

Technical Notes / Notes techniques

The Institute has attempted to obtain the best
original copy available for filming. Physical
features of this copy which may alter any of the
images in the reproduction are checked below.

Coloured covers/
Couvertures de couleur

Coloured maps/

Cartes g6ographiques en couleur

Pages discoloured, stained or foxed/
Pages ddcolordes, tachetdes ou piqu^es

Tight binding (may cause shadows or
distortion along interior margin)/
Reliure serr6 (peut causer de I'ombre ou
de la distortion le long de la marge
intdrieure)

L'Institut a microfilmd le meilleur exemplaire
qu'il lui a 6x6 possible de se procurer. Certains
ddfauts susceptibles de nuira d la quality de la
reproduction sont not6s ci-dessous.

□

Coloured pages/
Pages de couleur

Coloured plates/
Planches en couleur

Show through/
Transparence

Pages damaged/
Pages endommagdes

c
c

h
if
u
b
f«

Additional comments/
Commentaires suppldmentaires

Bibliographic Notes / Notes bibliographiques

Only edition available/
Seule Edition disponible

Bound with other material/
Reli6 avec d'autres documents

Pagination incorrect/
Erreurs de pagination

Pages missing/
Des pages manquent

Cover title missing/

Le titre de couverture manque

Maps missing/

Des cartes gdographlques manquent

Plates missing/

Des planches manquent

Additional comments/
Commentaires suppldmentaires

ins
I la

The images appearing here are the best quality
possible considering the condition and legibility
of the original copy and in keeping with the
filming contract specifications.

The last recorded frame on each microfiche shall
contain the symbol —^(meaning CONTINUED"),
or the symbol V (meaning "END"), whichever
applies.

Les images suivantes ont 6td reproduites avec le
plus grand soin, compte tenu de la condition et
de la nettetd de I'exemplaire filmd, et en
conformity avec les conditions du contrat de
filmage.

Un des symboles suivants apparaitra sur la der-
nidre image de cheque microfiche, selon le cas:
le symbole — ► signifie "A SUIVRE", le symbole
V signifie "FIN".

The original copy was borrowed from, and
filmed with, the kind consent of the following
institution:

National Library of Canada

L'exemplaire filmd fut reproduit grSce d la
g6n6rositd de I'^tablissement prdteur
suivant :

Bibliothdque nationale du Canada

Maps or plates too large to be entirely included
in one ex);osure are filmed beginning in the
upper Inft hand corner, left to right and top to
bottom, as many frames as required. The
following diagrams illustrate the method:

Les cartes ou les planches trop grandes pour §tre
reproduites en un seul cliche sont film6es d
partir de Tangle supdrieure gauche, de gauche i
droite et de haut en bas, en prenant le nombre
d'images n^cessaire. Le diagramme suivant
illustrj la m6thode :

1 2 3

Kvra

]

A COMPILATION

OP THE

STATUTES PASSED SINCE CONFEDERATION

KELATINQ TO

BANKS AND BANKING

GOVERNMENT AND OTHER SAVINGS BANES, PROMISSORY NOTES

AND BILLS OF EXCHANGE, AND INTEREST AND USURY

IN NEW BRUNSWICK AND NOVA SCOTIA,

TOGETHER WITH

EXTRACTS FROM THE CRIMINAL LAW,

AND

AN ANALYTICAL INDEX;

TO WHICH IS ADDED A LIST OF THE STATUTES PASSED SINCE 1867, ATFECTINO

OR '^I! EATING BANK CHARTERS.

By C. P. DAYIDSOl^, Esq., Q. 0.

^PRINTED AT THE "GAZETTE" PRINTING HOUSE.

1876 , _ ,

Entebed according. u> Act of Parliament of Canada, in the year 187(J, by
T. & R. WiiiTK, in the Office of the Minister of A-iioulcure.

CAP. XLVr.*

An Act to enable Banks in any part of Canada to use
Notes of the Dominion instead of issuing Notes of

their own.

[Assented to 22nd May, 1868.]

ER MAJESTY, by and with the advice and consent of the Preamble.
Senate and House of Commons of Canada, enacts as follows :

Governor in
Council may
arrange with
Banks for
surrender of
power to is8U»
notes.

Compensation
to be paid.

1. The Governor in Council may enter into arrangements with
all or any of the Chartered Banks in this Dominion for the sur-
render, on or before the first day of June, one thousand eight hun-
dred and seventy, of their power to issue notes ; — and in compen-
sation for such surrender, an annual sum not exceeding five per
cent upon the amount of its circulation, as established with respect
to any Bank in the Province of Quebec or Ontario, by the monthly
return upon the thirtieth day of April, one thousand eight hundred
and sixty-six, and with respect to any Bank in Nova Scotia or New
Brunswick, and to any Bank in the late Province of Canada, incor-
porated since the sai^l last mentioned day, — and in such manner as
the Goveraor in Council may deem satisfactory, shall bo payable
by the Domiuion to each Bank so surrendering its power of issuo
and redeeming its notes in circulation, until the expiration of its
charter, or such other period as Parliament may appoint; and tac
Receiver General shall receive any Provincial Bebentures or other
government securities now held by any such Bank in compliance
with the requirements of its charter, in exchange for N"otes of the
Dominion ; and shall also jmy to such Bank one half the estimated,
cost of its unissued notes.

2. In entering into any such arrangem'^nt as aforesaid with any Surrendermny
Bank, the Governor in Council may provide either for the imme- I'mmedfate'. *"^
diate or the gradual surrender of its power to issuo notes, such

gradual surrender not extending over a period of more than twelve

months ;

Exchange of
Govt, securi-
ties for Pro-
vincial Note?.

* See 33 Vic., cap. 10; 35 Vic., cap. 7, and 38 Vic, cap. 5, regulating the issue of
Pominion Notes. By 39 Vic, cap. 4, all theso Acts are extended to Prince Edward
Island, British Columbia and Manitoba.

Exchan(;o of
certain Deben-
tures for Do-
minik i Nutes.

No obligation
to bold dobon-
turos after
surrender.

Cap. 46. Banks may use Notes of Dominion. 31 ViCT.

months ; but in such a case tlio exchange of Dominion Kotos for
such Pehontui'CH and govt>riiinent securities as aforesaid, held hy
the Banlv under tlie leiiuirements of its charter, shall he made on!}'
in equal i)roi)ortion to the amount of its notes actually redecmod
and withdrawn from circulation, as sliown by its monthly returns.

*t. From the date of any such arrangement with any Bank, it
shall no longer bo bound to hold any Provincial Debentures or
other government securities which it may bo now required by law
to hold.

Weekly re- 4. Every ]}ank so surrendering its power to issue notes shall

Auditor- and '^^''^ko a weekly retu"n to the Auditor of its notes redeemed and
payment of withdrawn from circulation, and of those stiU outstanding, and the
com])cnsation hereinbefore authorized shall be paid to it half yearly
ill proportion to the amcurt so redeemed and withdrawn, computed
on tho average of the weekly returns for the half year, until the
amount redeemed is equal to nine-tenths of its circulation, on the
thirtieth day of April, one thousand eight hundred and sixty-six,
when it shall be entitled to compensation on the full amount thereof.

compenfiation,
half yearly.

Powers of
Governor in
Council in
making arran^
goment with
any Bank.

Power to
resirno right
of issue.

Consequence
of resumption.

♦5. The powers of the Governor in Council in making an
arrangement with any Bank for the surrender of its power to issue
notes, shall extend to any provisions which may be deemed expe-
dient respecting the redemption of the notes of t^uch Bank, or the
right of re-issuing any such notes during the period agreed upon
for the gradual redemption thereof, and generally to all provisions
which the Governor in Council may deem expedient to the con-
venient working of this Act, and not inconsistent with the enact-
ments contained in it, subject, nevertheless, to tho arrangements
already made under the authority of the Act of the late Province of
Canada hereinafter mentioned ; and any Order in Council for giving
effect to such provisions shall have the force of law.

6. Any Bank which ma}' have surrendered its power to issue

notes, may resume such power after giving at least three months

notice in writing to tho Receiver General, and publi.shing such

notice during the liko period in the Canada Gazette ; l)ut such Bank

shall, from tho expiration of such notice, cease to receive oompen-

eation on its notes withdrawn from circulation, and .shall pay back

to tho Receiver General any sum it has received from him in

Dominion notes in exchange for Provincial Debentures or other

Government securities, which shall then bo redelivered to tho

Bank, and the Bank shall be bound to hold the amount of Provincial

Debentures or other securities required by its charter, before it shall

resume the issue of notes.

1868. Banks may use Nvtes of Dominion. Cap. 40.

T« No Bank surrendering itH power to issue notes simll thorel)y aa to rightg
bo deprived of its claim to any privilege or power which shall he gh^^tgyj"*' "^^
granted to other Banks on the lonowal of their charters, in the
year one thousand eight hundred and seventy.

H* And whereas by an Act of the Legislature of the late Province
of Canada passed in the session held in the twenty-ninth and
thirtieth years of Her Majesty's Reign, and intituled: "An Act to
piovide for the issue of Provincial Notes," the Governor of that
Province in Council was empowered to authorize the issue of Pro-
vincial Notos for the general purposes of the Province, to the amount
of five millions of dollars, and to a further amount not exceeding
three millions of dollars for purposes relative to the surrender by
all or any of the chartered Banks of the Province of their power to
issue notes, under provisions similar to those made in this Act, and
it was provided that Buch notes should be of such denominational
values and in such form as the Governor in Council might direct,
and be redeemable in specie on presentation at offices to be estab-
lished at Montreal and Toronto, and at that one of the said places
at which they were respectively made payable, and should bo a
legal tender except at the offices afoj-esaid : And wherefvS such Pro-
vincial Notes to the amount of fiyo millions of dollars were in pur-
suance of tha said Act issued for the general purposes of the Pro-
vince, and a further amount for purposes relative to the surrender
by the Kank of Montreal of its power to issue notes, and for such
other purposes provided for by the aforesaid Act as are spccitied in
the agreement with the said Back approved of by the Governor in
Council ; and Provincial Notes to an amount equal in the whole to
eight millions of dollars, were engraved and prepared for issue:
therefore, the Provincial Notes issued or prepared for issue as afore-
said, to an amount not exceeding in the whole eight millions of
dollars, shall bo held to lo Notes of the Dominion of Canada, and
having been or being hereafter issued under the Act above cited or
this Act, shall bo redeemable in specie on presentation at offices
established or to be established at Montreal, Toronto, Halifax and
St. John (New Brunswick), and at that one of tho said place? nt
whicV. <hQy may bo respectively made payable, and being so re-
deemed may and might be again re-issued for the general purposes
of the Dominion, and shall be (as provided by the Act before cited,)
a legal tender except at the offices at which they are respectively
made payable; — and the said eight millions of dollars in such notes
not issued under the provisions of the Act before cited, may be
issued as Dominion Notes for the purposes of this Act ;

Reoitai.

29 30 V. \ 19.

Certain Pro-
viucial Notes
issued under
that Act to
bo Dominion
Xote." ; re-
demption, re-
issue, &c.

Issue of ba-
lance not yet
issued.

Provided

Cap. 46.

Banks may use Notes of Dominion. 31 ViCT.

Proviso : as Provided filwnyH, that Huch of <ho Raid Notes as arc made ])ay-
to noies re- ^1^]^ ^^ llali fax, shall, so loiiL' as the currency of Nova Sccjtia

(looDiablo at > ' ti j

llttlifax. remaine Bueh as it now is, bo redeemable in that currency, tliat is,

I at the rate of one pound sterling, English, for every five dollars of

the face value of such notes: and shall bo a legal tender in Nova
Scotia only ;

Proviso ; for And provideil also, that instead of reissuing any such Provincial
inini()n' Notes ^^tos, tho Governor in Council may authorize the issue of Dominion
instead of Pro- Notos to an amount nut exceeding that of the Provincial Notes
redeemed. redeemed, and such Dominion Notos may be of such denomina-
tional values ard in such form, and signed by such persons and in
such manner, by lithograph, printing or otherwise as he may from
time to time direct, and such Notes shall be redeemable in specie
on presentation at offices to bo established at Montreal, Toronto,
Halifax and St. John, and at that one of the said places at which
they may bo respectivelj' made payable; subject always to tho fore-
going proviso as to those made -lajable at Halifax, so long as tho
currency of Nova Scotia remains unchanged.

ODices for ^' The Governor may in his discretion establish branches of tho

rcUomption of Receiver General's department in Montreal, Toronto, Halifax and
St. John, respectively, for the issue and redemption of Provincial
or Daminion Notes, or he may make arrangements Avith any
chartered Bank or Banks, for the issue and redemption thereof,
and may for such service allow a commission not exceeding one
quarter of one per cent, for every throe months, upon the average
amount of notes in circulation during that period.

notes.

Suras to bo
hold in sjiocio
for rcJemiition
(if Pioviin'ial
iir Dominion
Kotes :

Debentures for
any tlilfercnoo
between sueli
sjiccio and
amount of
uotos.

Power of
Keeeivcr Ge-
neral.

lO. The sum to be held in sjiecie by the Eecciver General for

the redemption of Provincial or Dominion Notes, shall be twenty

per cent, iipon the simount thereof in circulation, so long as such

amount does not exceed five millions of dollars ; for any excess over

live nuilions, twenty-iivo per cent, of such excess sluill bo so held ;

and Debentures of the late Province of Canada or of the J)ominion

of Canada, shall be held by the Eecciver General, to the lull amount

by which tho specie held as aforesaid fails to cover the whole

amount of Provincial or Domonion Notes oustaiiding at any time;

and debentures of tho Dominion may be issued and delivered to tho

Eecciver General for this purpose; such debentures being so held

for securing the redemption of tho Provincial or Dominion Notes,

and the Receiver General having full power to dispose of them,

either temporarily or absolutely, for raising funds for that purpose,

or for procuring the amoitnts of specie to be held by him under tho

lirovisions of this seetion.
jj^

31 Vict.

18G8.

Banks may nse Notes of Dominion.

Cap. 4G.

niiido i)ay-
3va Scotia
•y, tliat is,
I dollara of
sr in Nova

Provincial
Dominion
cial Notes
dcnomina-
•ns and in
may fi-om
in specie
, Toronto,
I at which
the fore-
ng aa tlio

hes of the
xlifax and
rovinciai
"wifh any
thereof,
Hling one
e average

;neral for
e twenty
!^ a« f^iK'h
:ceHs over

80 hehl ;
)oniinion
1 amount
le wliolo
ny time ;
ed to tlio

so held
)n Notes,
of them,

purpose,
mder the

Commlvsloneri
for iiDoortain-
Ing the amount
of notes issued
and iipocio and
debentures
bold.

Regnlt of ex-
aminatior to
bo roturniid
on Oath and
publiBbed.

II* The Governor in Council shall, from time to time, appoint
Commissioners, llireo for the Province of Ontario, and three for the
Province of Quebec, two for Nova Scotia and New Jh-unswick, with
such remuneration as ho shall determine, whose duty it shall bo to
examine on the first Wednesday of every month, or on such other
days as may bo from time to time directed by the Governor in
Council, into llio number of Provincial or Dominion Notes then
issued and out.standi;ig at the Branch Departments of the Receiver
General, or the office', of the Banks issuing the same, at Mon<;oal,
Toronto, llalir!«>: and St. John, respectively, and also into the
amount of s])ccio and debentures then held at the said places res-
pectively for tlie redemption of such notea ; and upon such exami-
nation, the said Commisf.ioncrs for each of the said Provinces
resi:)ectively, or any two of them, shall return the result of such
examination under oath to the Auditor, who shall publish such
return in the next number of the Canada Gazette ; and such oath
shall bo in tho following form, or in such other form as may from
time to time be directed by order in Council, and if wilfully false
shall subject the person taking the same to all the pains and
penalties of the crime of perjury :

" "Wo, A. B., &c.. Commissioners for (tho Province of Quebec or Form of Oath.
" as the case may he) make oath and say, that on tho day

*' of A. D., IS , tho Pi'ovincial or Dominion notes outstanding
<' and ill circulation from (Montreal, or as the case may be) amounted
«' to dollars, and the Specie and Provincial or Dominion

" debentures then held for tho redemption of such notes at (Mont-
" real, or as the case may be) amounted to dollars in specie

" and dollars in debentures."

12. The proceeds of the said Provincial or Dominion notes shall Proceeds and
form part of the Consolidated Piovouue Fund of Canada, and the No'tes.'^" **^
expenses lawfully incurred under this Act shall be paid out of tho

said Fund.

13. The word "specie" in this Act means coin current by law Interjjretation
of that one of tho Provinces in which any Provincial or Dominion

note is made payable, at the rates and subject to the provisions of
tho law in that behalf, or Bullion of equal value according to its
weight and fineness ; — and the expression "Provincial Debentures
or Government Securities " in the first, second, third and sixth sec-
tions of this Act, means and includes any Debentures, which under
tho charter of the Bank in question may be held by it in compliance f

with any provision in its charter obliging it to invest a certain jjor-
tion of its caj)ital in euch Debentures or Securities.

11.

14.

» '

Punishment
for forging
notei), <&o.

IlaTing plates,
&o., in jios-
seesion.

8 Cap. 40, 12. Banks ma?/ use Notes of Dominion. 31 ViCT.

11. If any person enj,'ravcH or in any^viso malvos upon any plato
whatever, or upon any wood, wtono or other nuvtorial, any noto
l>urporting to bo a Provincial Noto, or a noto of tho Dominion of
Canada, without tho autliority of tho Minister of Finance, tho
proof of which hhall lie on tho parly accused; or if any person on-
graves or makes ujjon any plato whatever, or upon any wood, stono
or other uiaterial, any word or words resembling or apparently
intended to resemble '^■".y subscription subjoined to any Provincial
Note, or Noto of tho I minion of Canada, without such authority,
to bo i)roved as aforesaid ; or if any person without such authority,
to bo proved, as aforesaid, uses, or Avithout lawful excuse, to bo
proved by tho party accused, knowingly has in his custody or
possession any plate, wood, stone or other materia, pon which any
such Provincial Note, or Noto of tho Dominion of Canada, or part
thereof, or any word or words resembling or apparently intended
to resemble such subscription as aforesaid has been engraved or
made ; or if any person without such authority, to bo proved as
aforesaid, knowingly oft'ers, utters, disposes of or puts ofl", oi- without
.lawful excuse, to bo proved as aforesaid, knowingly has in his
custody or possession any paper upon which any part of such
Provincial Note, or Note of tho Dominion of Canada, or any word
or words resembling or apparently iutended to resemble any such.
Bubscrii)tion, has been made or printed, every such oftbnder shall
be guilty of felony, and on conviction shall be liable to bo impris-
oned in tho penitentiary for any term not loss than two years nor
more than seven years, or to bo imprisoned in any Common Gaol
for any term less than two years, in tho discretion of the court
before which tho conviction is had.

Re oal of l*** ^° much of any Act or law in force in this Dominion as may

inoonsistant bo inconsistent with this Act, is hereby repealed,
enactments.

Uttering
aotos, &0'

Preamble

CAP. XII.

An Act to remove certain restrictions with respect to
the issue of Bank Notes in Nova Scotia.

[Assented to 12th Maij, 1870.]

EE MAJESTY, by and with tho advice and consent of tho
Senate and IIouso of Commons of Canada, enacts as follows : —

• 31 Vict.

ipon any plato
rial, any noto
t) Domlnioji ot

Finance, Iho
ny porMon on-
ly wood, btono
3i" "ppurontJy
ny l^i-ovincial
(-•li authority,
ich authority,
)xcu8e, to bo
i custody or
)n which any
lada, or part
it]y intended
engraved or
'0 proved as
% or without

has in his
art of such
or any word
'lo any such
Jonder shall

bo impris-
o years nor
nmou Gaol
'f tho coui't

ion aa may

1870.

Bnnhs in Noi.i Scotia, S,('.

Cap. 12, 5,

'spect to

^ij, 1870.]

it of the
allows : —

1. So much of the thirteenth section of chapter eighty-thrco of nnnkii in
the Revitscd Stalnlos of Nova Scoliii, third series, inlituU-d, " Of ^j'.IJ''^,';"''
CuiTcncv." or of any other act or hiw, or of tho chartoi of any no' s unJcr

. -.T ., i-l'i. .1 ■ f T) I »*•'. but not

Bank, in force in Jvova f^colia, as j)r()hihits llio is(su« of any IJank uudcr$-l.
Noto by any Chartered Bank for a Ions sum than twenty dollars, is
hereby repealed ; but no Chartcicd Bank in Nova Scot!' hhali issuo
any Bank Noto for a less num than four dolhirs Currency of that
Province, under tho iicnalty imposed by tho said thirteenth section
of the said chapter eighty-thrco, for issuing Notes for a loss sum
than twenty dollars.

BANKS AND BANKING.

ACTS REPEALED.

31 Vic, Cap. 11, intituled "An Act respecting Banks," repealed
by 34 Vic, Cap. 5, Sec. 16.

33 Vic, Cap. 11, intituled "An Act respecting Banks and Bank-
ing," rupeulcd by 34 Vic , Cap. 5, Sec. 70.

CAP V.

An Act relating to Banks and Banking. *

[Assented to Uth April, 1871.]

WHEREAS, it is desirable that the provisions relating to tho Preamblci
Incorporation of Banks, and tho laws relating to Banking,
should be embraced, as far as practicable, in one general Act ; There-
fore, Ilcr Majesty, by and with tho advice and consent of tho Senate
and House of Commons of Canada, enacts as follows : —

1. Tho Charters or Acts of Incorporation of the several Banks charters

enumerated in tho Schedule to this Act (including any amendments continued
n ■ ,. ^ ,• 1 1 • T ,• .1 for certain

thereof now in force) are continued as to their Incorporation, tho purnofos

amount of Capital Stock, tho amount of each share of such Stock, ""^'' ^ '^^^y'-
and the chief place of business of each respectively, until tho first
day of July in tho year of our Lord one thousand eight hundred
and eighty-one, subject to tho right of any such Bank to increase
its Capital Stock in the manner hereinafter provided ; and as to Certain pro-
other particulars the said charters are continued without being appiy^unm'*
subject to any of the provisions of this Act except those contained after i July,
in Sections Four, Thirty-nine to Fifty-four, both inclusive, and Sixty

' *?

* Amended by 35 Vic, Cap 8, (p. 36). ■ 1— .-:_-I_

1871.

Cap. 5.

Banks and Banling.

84 Vict.

Provision
^util end of
nest Session
and after-
Avards.

To wliat
banks tlie Act
applies.

Matters to be
provided for
in special
Acts.

to Rixty-cight, both inclusive, until the first day of July in the
present year of our Lord one thousand eight hundred and seventy-
one; and from and after the day last mentioned, the sa'.d charters
are continued, subject to the provisions of this Act, until the end of
the then next Session of Parliament; and from and after the end
of such Session this Act shall form and bo the Charters of the said
Banks rospectivelj', until the first day of Jul/, 1881, and the pro-
visions thereof shall a]iply to each of them respectively, and their
present charters shall be repealed, — except only as to the matier"
for which the said Charters are above continued until the day last
aforesaid.

*^, The provisions of this Act shall apply to any Bank to be here-
after incorporated (which expression in this Act includes any Bank
incorporated ly any Act passed in the present Session or in any
future Session of the I'arliament of Canada) whether this Act is
specially mentioned in its Act of Incorporation or not, as well as
to all Banks whose charters arc hereby continued, but not to any
other, unless extended to it under the special provisions hereinafter
made.

«{« The capital stock of any new Bank, the amount of each share,
the name of the Bank, and the place where its chief office shall be
situa+.v shall be declared in the Act of Incorporation of any Bank
to be hereailer incorporated.

GENERAL BEOULATIONS.

Branches-and 4. The Bank may open branches or agencies and offices of dis-
agencics. fount and deposit and transact business, at any place or places in
the Dominion,

Incrense of
capital.

How to be
.allotted.

»5. The capital stock of the Bank may be increased, from time to
time, by the shareholders at any annual general meeting, or any
general meeting special I3' called for that purpose ; and such increase
may be agreed on by such proportions at a time as the shareholders
shall determine, and shall lie decided by the majority of the votes
of the shareholders present at such meeting in person or by proxy.

(>• Any of the original unsubscribed capital stock, or tho in-
creased stock of a Bank, shall, when tho Directors so determine, bo
allotted to the then shareholders of the Bank j)>o rata, and at such
rate as shall be fixed by the Directors, provided always that no
fraction of a share shall be so allotted; and any of such allotted
stock as shall not bo taken up by tho shareholder to whom such
allotment has been made, within three months from tho time when
notice of the allotment has been mailed to his address, may hi

opened

34 Vict.

1871.

Banks and Banking.

Cap. 5.

lily in the
d Bovcnty-
d charters
the end of
er tlie end
of the said
d tlio jiro-
, and their
10 matvcr"
10 (lay last

to bo hcre-
any Bank
or in any
his Act is
as well as
lot to any
loreinafter

iach share,
e shall bo
any Bank

cos of dis-
places in

m time to
?. or any
li increase
ireholdors
the votes
jy proxy.

:' the in-
rmino, bo
1 at such
1 that no
I allotted
om such
tno when
may hi
opened

•opened for subscription to the public, in such manner and on such
terms as the Directors shall i)roscribo,

T. No Bank to bo hereafter incorpoi'atod, unless it bo otherwise conditions
provided by its charter, shall issue notes or commence the business previous to

*■ ■' ' comraenetng

of banking, until five hundred thousand dollars of capital have boon business by
homX fide subscribed and one hundred thousand dollars have been ^^^ Banks.
bond fide paid up, nor until it shall have obtained from tho treasury
board a certificate to that effect, which certificate shall bo granted
by tho treasury board when it is proved to their satisfaction that
sucn amounts of eajiital have been bond fide subscribed and paid
respectively ; and if at least two hundred thousand dollars of the
subscribed cajiital of such Bank has not been ])aid up before it shall
have commenced business, such further amount as shall bo required
to complete tho said sum shall be called in and paid up within two
years thereafter, and it shall not be necessary that more than two
hundred thousand dollars of the stock of any Bank, whether incor-
porated before or after the passing of this Act, be paid up within
any limited period from the date of its incorporation,

8. The amount of notes intended for circulation, issued by the Amount of
Bank and outstandincf at any time, shall never exceed the amount J'.''°.'f "°'®^

^ ■' ' limited ; none

of its unimpaired paid up capital : Ko such note for a less sum to be under
than four dollars shall bo issued or ro-issucd by the Bank, and all '
notes for a " ss sum heretofore issued shall bo called in and can-
celled as soon as may bo practicable.

9. The Bank shall alwaj's receive in payment its own notes at Rede: rtion
par ftt any of its offices and whether they be made payable there or "^ °"^'' •
not; but shall not be bound to redeem them in specie or Dominion

notes at anyplace other than where they aro miule payable; the.
pliico or one of tho places at which the notes of tho Bank shall bo
made payable shall always bo its chief scat of business.

10. No dividend or bonus shall ever bo made so as to impair the No dividend
paid-up capital, and if any dividend or bonus bo so made, the Direc- *" 'mp'i'r piid

^ *■ , , up capital ;

tors knowingly and wilfully concurring therein, shall bo jointly and penalty tor
severally liable for tho amount thereof, as a debt due by them to the provision if
Bank; i^nd if any part of tho paid up capital bo lost, tho .Directors part thereof
shall, if aU tho subscriliod stock bo not paid up, forthwith make
calls upon the shareholders to an amount equivalent to such loss ;
and such lo s (and the calls, if any), shall bo mentioned in the re-
turn then next made by the Bank to tho Government; jirovided
that in any case where the capital has been impaired as aforesaid,
all net profits shall be applied to make good such loss.

11.

be lost.

^LM

iii

Cap. 5.

Banks and Bankino, .

34 Vict,

DiviJend H* No division of jirofits, either by way of dividends or bonus,

limited unless or both combined, or in any other way, exceedini' the rate of eight per

there be a in.-.. i -r. , T m ? ,

certain cent, per annum, Bhall be paid by the 13ank, unless, after paying the

Heserved same, it shall have a rest or resei-ved fund equal to at least twenty

per cent, of its paid up capital, deducting all bad and doubtful debt&

before calculating the amount of such rest.

List of Stock-
holders to be
laid before
Parliament
vearly.

Monthly
returns to be
made ; and
hew attested.

1S« Certified lists of the shareholders, (or of the principal part-
ners, if the Bank bo en commandite,) with their additions and resi-
dences, and the number of shares they respectively hold, shall bo
laid before Parliament every year, within fifteen days after the
opening of the session.

13* * Monthly returns shall be made by the Bank to the
Government in the following form, and shall be made up within
the first ten days of each month, and shall exhibit the condition of
the Bank on the last juridical day of the month preceding ; and
such monthly returns shall be signed by the President, or Vice-
President, or the Di ^or (or, if the Bank be en commandite, the
principal partner) thou acting as President, and by the Manager,
Cashier or other principal officer of the Bank at its chief seat of
business :

form.

Return of the amount of liabilities and assets of the

Bank, on the day of , A.D. 18

Capital Authorized, $ Capital Subscbiped, $ Capital Paid up, $

LIABILITIES.

1. Notes in circulation

2. Government deposits payable on demand

3. Other deposits payable on demand

4. Government deposits payable after notice, or on a

fixed day

5. Other deposits payable after notice, or on a fixed day

6. Due to other banks in Canada

7. Duo to other banks or agents not in Canada

8. Liabilities not included under the foregoing heads..-

$ cts.

ASSETS,

« Another form is substituted by 36 Vic. 43 for the one here given. (See p. 40.)

34 Vict,

inds or bonus,
ito of eight i)er
'er paying the
i least twenty
loubtful debts

rincipal part-
ions and resi-
lold, shall be
lys after the

Bank to the
do up within
» condition of
seeding; and
ent, or Vice-
nmandite, the
ho Manager,
chief seat of

A.D. 18

AID UP, $

$ CtS»

1871

Banks and Banking.

Cap. 5.

ASSETS.

(See p. 40.>

ASSETS.

$ CtS.

1. Specie

2. Provincial or Dominion Notes

3. Notes of and cheques on other banks

4. B;ilances duo from other banks in Canada

5. Balances due from other banks or agents riOt in

Canada

6. Government debentures or stock

7. Loans to the Governments of the Dominion and of

any of the Provinces, respectively

8. Loans, discounts or advances on current account to

corporations

9. Notes and bills discoimted and current

10. Notes and bills discounted, overdue and not specially *

secured

11. Overdue debts secured by mortgage or other deed on

real estate, or by deposit of or lien on stock, or by
other securities

12. Eeal estate, the property of the Bank (other than

the Bank premises), and mortgages on real estate
sold by the Bank

13. Bank promises

14. Other assets not. included under the foregoing heads..

We declare that the foregoing return is made up from the books
of the Bank, and that it is correct to the best of our knowledge
and belief.
{Place) this day of ,18

A. B. — President, <fc.
C. D.— Cashier, d-c.

14. The Bank shall always hold, as nearly as may be practicable partof

one half of its cash reserves in Dominion notes, and the proportion reserres to be
of such reserves held in Dominion Notes shall never be less than notes,
one-third thereof.

15. Every Bank to which this A.ct applies shall be exempt from Exemption
the tax now imposed on the average amount of its notes in circu- f"""'" ^""'^
lation, to which other Banks will continue liable, and from the
obligation to hold any portion of its capital in Government deben-
tures or debentures of any kind.

IC.

m3J

Cap. 5.

Banks and Banking.

34 "Vict.

Arrangements 1^» The Receiver General shall make such arrangements as may
for supi.iying \^q necessarv for ensurini' the delivery of Dominion notes to any Bank,

Dominion i " n • i ./ '

notes. in exchange lor an equivalent amount of specie, at the several

oflSces at which Dominion notes wiii be redeemable, in the cities of
Toronto, Montreal, Ilalifax and St. John, (N.B.,) respectively.

INTERNAL REGULATIONS.

I i I

Subscription
for and trans-
fer of stocli in
the United
Kingdom.

Shares and Shareholders.

IT. Books of subscription may bo opened, and shares of the
capital stock of the Bank may be made transferable, and the divi-
dends accruing thereon may bo made payable, in the United
Kingdom of Great Britain and Ireland, in like manner as such shares
and dividends are respectively made transferable and payable at the
head office of the Bank ; and to that end the Directors may from
time to time determine Iho proportion of the shares which shall be
so transferable in the United Kingdom, and make such rules and
regulations, and presfribo such forms, and appoint such agent or
agents, as they may deem necessary.

I'ayment of
sluires.

18. The shares of the capital stock shall be paid in by such in-
stalments, and at such times and places as the Dii-ectors shall
appoint, and executors, administrators and curators paying the
instalments upon the shares of d- ceased shareholders shall be and
I'loviso : are respectively indemnified for paying the same : Provided ahvay.r,

!n sub-^'"^''* that no share or shares shall bo hold to bo lawfully subscribed lor,
oribing. unlcss a sum equal to at least ten per centum on the amount sub-

iicribed for be actually paid at the time or within thirty days after
the time of 6ubscribin<f.

Transfers of
rihares ; con-
I'.itiuns as to
siiaies sold
under e&ecu-
tioi..

lO. The shares of the capital stock of the Bank shall be held and
adjudged to be personal estate, and shall bo assignable and trans-
ferable at the chief place of business of Ihe Bank, or at any of its
branches which the Directors shall appoint for that purpose, and
according to such form as the directors shall proscribe; but no
assignment or transfer shall be valid unless it bo made and regis-
tered and accepted by the party to whom the transfer is made, in a
l)ook or books to bo kept by the Directors for that purpose, nor
.^ until the person or persons making the same shall, if required by
the Bank, previously discharge all debts or liabilities due, by him,
her, or them to the Bank, which may exceed_in -amount the remain-
ing stock, if any, belonging to such person "or persons, and no frac-
tional part or parts of a share, or less than a whole share, shall bo

assignable

PI I'll

34 Vict.

18V1.

Banks and Banking.

Capi 5.

fits as may
any Bank,
bo several
le cities of
^ely.

es of the
the divi-

United
ich shares
ible at the
may from
h shall be
rules and

agent or

'• such in-

ors .shiiU
ying the
I be and

1 always,
ibod for,
ount 811 b-

i}-s after

iieid and
ul trans-
ny of its
H).se, and
but no
lid regis-
ado, in a
•oso, nor
uired by
by him,
remain-
no frac-
shall bo
signa!)Io

assignable or transferable : and when any share or shares of the'
said capital stock shall have been sold under a writ of execution,
the sheriff by whom the writ shall have been executed shall, within
thirty days after tho sale, leave with the cashier, manager, or other
officer of the Bank, an attested copy of tho writ with the certificate Transfer by
of such sheriff or dorsed thereon, certifying to whom the sale has a^btsloBank.
been made, and thereupon (but not until after all debts or liabilities being Qrst
due by tho holder or holders of the shares to tho Bank shall have ^^'
been discharged as aforesaid), tho President or Vice-President, Man-
ager or Cashier of tho Bank, shall execute the transfer of tho share
or shai'os so sold to tho purchaser; and such transfer being duly
accepted, shall be to all intents and purposes as valid and effectual
in law as if it had been executed by the holder or holders of the
said share or shares, any law or usage to the contrary notwith-
standing.

20. A list of all transfers of shares registered each day in the List of
books of the Bank, showing tho parties to such tranfe."s and the bo'^made'up
number of shares transferred in each case, shall be made up at the ''»''y' *J»d
end of each day and kept at the chief office of tho Bank for tho shareholders-
inspection of its shareholders.

31* If the interest in any share or shares in the capital stock Transmission
becomes transmitted in consequence of the death or bankruptcy or otherwiTo
insolvency of any shareholder, or in consequence of the marriage than by

trflyHsffir * hoW"

of a female shareholder, or by any other lawful means than by a proved, ic
transfer according to tho provisions of this Act, such transmission
shall bo authenticated by a declaration in writing, as hereinafter
mentioned, or in such other manner as tho Diroctoi's of the Bank
shall require, and eveiy such declaration shall distinctly state tho
manner in which, and tho party to whom, such shares shall have
been transmitted, and shall be by such party made and signed; and
every such declaration shall bo by tho party making and signing
the same acknowledged before a Judge of a Court of Eecoi'd, 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 bo made and signed ; and every declaration so signed and
acknowledged shall bo left w^th tho cashier, manager or other
officer, or agent of the Bank, who shall thereupon enter the name of
the party entitled under such transmission in the registry of share-
holders; and until such transmission shall havo been so authenti-
cated no party or person claiming by virtue of any such transmis- —
sion shall be entitled to receive any share of the profits of tho Bank,
or to vote in respect of any such share or shares : provided always, that

every

Proviso :
Whon the
docliiration of
trannfor, <fec.,
arc mado out
«f Canada.

Proriso for
'further proof.

Cap. 5.

Banks and Banking.

34 Vict.

every such declaration and instrument as by this and the following
section of this Act is required to perfect the transmission of a share
or shares in the Bunk which shall be made in any other country
than Canada, or some other of the British colonies in North
America, or in the United Kingdom of Great Britain and Ireland,
shall 1)0 further authenticated by the British Consul or Vice-Consul,
or other the accredited representative of the British Government in
the country where the declaration shall be made, or shall bo made
directly before such British Consul or Vicc-Consul or other accre-
dited representative: and provided also that nothingin this Act
contained shall bo hold to debar the directors, oashier or other
officer or agent of the Baidc from requiring corroborative evi-
donce of any fact or facts alleged in any such declaration.

;|!:

Transmission
by marriage
of feinalo
eharebolier.

Proviso as to
authorization
by huaband.

Transmis.sion
by docoai=e of
Shareholder.

further pro-
vision in such
case.

33. If the transmission of any share of the capital stock bo by
virtue of the marriage of a female shareholder, the declaration shall
bo accompanied by a copy of the i-cgister of such marriage, or other
particulars of the celebration thereof, and shall declare the idenvity
of the wife with the holder of such share, and shall be made and
signed by such female shareholder and her husband ; and it shall be
competent to them to include therein a declaration to the effect
that the share transmitted is the solo property, and under the sole
control of the wife, that she may receive and grant receipts for the
dividends and profits accruing in respect thereof, and dispose of and
transfer the share itself, without requiring the consent or authority
of her husband ; and sueh declaration shall be binding upon the
bank and the parties making the same, until the said parties shall
see fit to revoke it by a written notice to that effect to the Bank ;
find further, the omission of a statement in any such declaration,
lliat the wife making the same is duly authorized by her husband
lo make the same, shall not cause the declaration to be deemed
cither illegal or informal; any law or usage to th^ contrary not-
withstanding.

23. If the transmission have taken i^lace by virtue of any tes-
tamentary instrument, or by intestacy, the probate of the will, or
any letters of administration, or act of curatorship, or an official
extract Ihrefrom, 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,

2-1. If the transmission of any share or shares of the capital
stock of the Bank be by the decease of any shareholder, the pro-
duction to the Directors and the deposit with them of any authen-
ticated

l:l

34 Vict.

tho followincr
3ion of a share
ot)ier country
lies in North
1 and Ireland,
i" Vice-Consul,
fovornment in
ihali bo made
P other accre-
gin this Act
hier or other
iborative evi-
ion.

I stock bo bj
laration shall
iage, or othev
! the ideniity
be made and
nd it shall be
to the eflPect
der the sole
eipts for the
spose of and
or authority
g upon the
parties shall
) the Bank;
declaration,
ler husband
be deemed
)ntrary no^

of any tes-
the will, or
an official
'e produced
Bank, who
under such

the capital
r, the pro-
ny authen-
ticated

1871.

Banks and Banking.

Cap. 5.

tieatcd copy of the in-obato of the will of tho deceased shareholder,
or of letters of administration of his estate granted by any court in
the Dominion liaving power to grant such probate or letters of ad-
ministration, or by any prerogative, diocesan or peculiar court or
authority in England, Wales, Ireland, or any British Colony, or of
anj testament testamentary or testament dative, cxjiedo in Scot-
land, or, if the deceased shareholder shall have died out of Her
Majcf ly's dominions, the production to and deposit with the Direc-
tors of any auth'>nticatcd copy of tho probate of his or her will or
letters of administration of his or her property, or other documents
of like import granted by any court or authority having the requi-
site power in such matters, shall be sufficient justification and au-
thority to the Directors for paying any dividend, or transferring,
or authorizing tho transfer, of any share or shares, in pursuance of
-and in conformity to such probate, letters of administration, or
other such document as aforesaid.

25. Whenever the interest in any share or shares of the capital
stock of tho Bank shall be transmitted by the death of any share-
holder or otherwise, or whenever the ownership of or legal right of
j)ossession in any such share or shares shall change by any lawful
means other than by transfer, according to the provisions of this
Act, and the Directors of the Bank shall entertain reasonable doubts
as to tho legalitj'' of any claim to and upon such share or shares of
stock, then, and in such case, it shall be lawful for the Bank to
jnako and file in one of the Superior Courts of Law or Equity in
the Province in which- the head office of tho Bank is situated, a
declaration and petition in writing, addressed to the Justices of the
Court, setting forth the facts and tho number of shares previously
belonging to tho party in whose name such shares stand in the
books of tho Bank, and praying for an order or judgment adjudi-
cating and awarding the said shares to the party or parties legally
entitled to the same, and by which order or judgment the Bank shall
be guided and held fully harmless and indemnified and released
from all and every other elaim for the said shares or arising there-
from : Provided always, that notice of such petition shall be given
to the party claiming such snare or shares, or to the Attorney of
such party duly authorized for the purpose, who shall upon the
filing of such jietition, establish his right to the several shares ve-
ferred to in such petition ; and the delays to plead and all other
proceedings in such cases shall be the same as those observed in
analogous cases before the said Superior Courts : Provided, also, that
the costs and expenses of procuring such order and adjudication
shall be paid by the party or parties to whom tho said shares shall
be declared lawfully to belong, and such shares shall not be trans-
2 ferred

Provision in
case the Di-
reotora haro
reasonable
cause of doubt
as to the
party entitled
to any 8bar«.
Application
to Cou>t.

Proviso as to

costs.

Cap. 5.

Bankx and Bankinfr.

84 YlCT.

Jlaok not
bound to tte
to trui :a.

Whci the
stock sttinil.';
in more thaa
ono name.

One Toto for
«ach share.

Proxies, Sec.

Majority of
votes to
decide. Ties.
Joint holders
of Shares.

Voting to \>o
by ballot.

ferroil until such costs and expenses bo paid, saving tlio rccoiu-bo of
such party against any party contesting his right.

3(S. The Bank siiail not lo bound to t-co to the cxeoutiou of any
trust, whether expressed, implied or constructive, to which any of
the shares of it.n stock shall ho Mihjcct, and the receipt of the ])arty
in whoso name jiny such share shall stand in the hooks of tho tlaok,
or, if it stands i4i tlio name of more ])artics than ono, tho receipt of
ono of tho parties sliall I c :i .sufiicient discharge to tho Bank for any
dividend or any othc sum of money ]>ayaMo in resjicct of such
share, uidess oxjircs.-; notice lo the contrary has heen given to tho
Bank ; and the Bank shall not lo bound to sec to tho application
of tho money ir.i'ul ujjon such receipt, Avhethcr given by ono of such
parties or all of them.

IJT« Each shaveholder in tho Bank shall, on all occasions on
which the votes ot the shareholders aro to bo taken, have ono vote
for each share held li\' him for at least thirty days Leforo tho time
of meeting. 8Iiarclu)lders may vote by prox}-, but no jjcrson but a
shareholder shall be ];ci'mitted to vote or act as sucli proxy; and
no Manager, Cashier. I'ank Clerk or other subordinate officer of tho
Bank shall vote either in person cr by proxy, or hold a proxy for
that ]iur]K)sc. All que.>ti(jiis proposed I'cr the consideration of tho
said shareholders shall lo determined ly the majority of their votcsj
tho chairman elected to preside at aiij- such meeting of the said
shareholders shall vole as a shareholder onl}*, unless there be a tie,
in Avhich case (except as lo the election of a Director) ho shall liavo
a casting vote; JUil where two cr more persons are joint holders of
shares, it sliall be lawful that one only of such joint holders bo
empowered by letter of attorney from the other joint holder or
holders, or a majority of them, to represent the said shares, and
vote accordingly; and in all cases wlien the votes of tho share-
holders are taken the voting shall be by ballot.

_, , . , 2S. The shareholders in the Bank shall have power to regnlato

may regulate by by-law the following matters incident to tho management and

certain
matter.^ by
by-laws.

administration of the atfairs of the Bank, viz. : tho qualification, and
number of Directors, which shall not be less than five nor more
than ten, and the quorum thereof; tho method of filling up vacan-
cies in tho Board of Directors whenever tho sarce may occur during
each year ; and the time and proceedings for the election of Direct-
ors, in case of a failure of any election on the day aj^pointed for it:
— tho remuneration of the President, Vice-President and other
Directors; and tho closing of tho transfer book during a cei'tain
time not exceeding fifteen days, before the payment of each semi-
annual

187i

an ml

thrc

capll

saiKi

mill]

sandl

millf

and

pro\l

viani

of itl

tho

disc(|

bof;

or ti

tiou!

this

81 Vicr.

rccoin-bo of

itiou of any
IiicJi iiuy of
'f llio pnvty
f (IioBaDk,
rocei]pt of
iinic i\)v tiny
cot of 8IU-ll
ivcn to tlio
Jipplication
i-'Mc of such

casions on
•0 Olio vote
3 Iho time
rsoii but a
••oxy; and
icer of tho
proxy for
ion of tho
leir votes;
f tJio said
•c bo .1 tie,
•'liall Jiavo
holders of
oldors bo
liolder or
ares, and
!ie .share-

regnlate
lent and
tion, and
or more
p vacan-
t' during
' Direct-

1871.

Banks and Banking.

Cap. 5,

Proviso as to
(|uiillficati()n
of Diroctora.

Annual elec-
tion of
Diroctors.

T)iscount8 to
Directors, icQ.

Proviso :
Certain bj--
laws to
remain in
force.
Exception,
after 1 July,
1871.

1 annual divMcnd :— Provided that no Director shall hold Iosh than
I threo thousuiid dollars of the Htock of tho Bank, when tho paid up
'^' cajKtal thereof i.4 one million dollars or loss, nor loss than four thou-
I Hand lioUafH of Htock when tho paid up capital thereof is over ono
■ million and docs not exceed threo millions, nor loss than five thou-
^ wind dollars of ntock when tho paid up capital thereof cxccal.s throo
I millions ; tho Directors shall bo elected annually by the shareholders
J and shall bo eligible for re-election : Provided that tho foregoing
provisions, touching Directors, whail not apply to a Bank en com.
manditc, which shall in thcso matters bo governed by the provisions
of its charter. Tho shareholders (or, if tho Bank bo en covmandite^
tho principal jiartners) may also regulate by by-law the amount of
discounts or loans which may bo made to Directors (or, if tho Bank
bo en commandite, to tho principal partners), either jointly or severally
or to any ono firm or person, or to any shareholder or to corpora,
tions : Piovided that until it is othorwiso ordered by by-law imdor
this section, tho bydaws of tho Bank on any matter which can bo
regulated by by-law under this section, shall remain in force except
as to tho qualification of Directors, as to which they shall remain in
force until the next annual general meeting of tho shareholders after
tho first day of July, 1871, after which no person shall bo a Director
unless ho possesses tho number of shares liereby required, or such
greater number as may bo required by any by-law in that behalf.

21). Any number not loss than twenty-fivo of tho shareholders ppocial gene-

of the Bank who together may bo proprietors of at least onc-tonth F"*' meetings:
f^ J I I Jiot^r called.

of the paid up capital stock of tho Bank, by themselves or by
their proxies, or tho Directors of tho Bank or any four of them,
shall have power at any time to call a special general meeting of
tho shareholders of the Bank to be lield at their usual place of meet-
ing upon giving six weeks previous public notice, specifying in
such notice tho object or objects of such meeting ; and if the object
of any such special general meeting bo to consider of the proposed Provision if
removal of tho President or Vice President, c .■ of a Director or t'lo President

or V ICG"

Directors of the said Bank for maladministration or other specified Prcsidout or
and apparently just cause, then if a majority of tho votes of the removed!'.''''
shareholders of such meeting be given for such removal, a Director
or Directors to replace him or them shall bo elected or appointed
in tho manner provided in the By-Laws of the Bank, or if there be
no by-laws providing therefor, then by tho shareholders at such
meeting ; and if it bo the President or Vice-President who shall be
removed, his office si ..il bo filled up by the Directors (in the manner
provided in case of a vacancy occurring in tho office of President or
"Vice-President) w ho shall choose or elect a Director to servo as suet ^

President.

30.

fir

Cap. 5.

' i^

iM;

Banks and Banking.

President and Directors.

34 ViCT.

Annual gene-
ral mooting (J
sli^reholdors,
and cluctidti
of directors

Notice.

Proxies.

Case of
equality of

votes.

Vacancies
among direc-
tors : how
filled.

Election of
President, &o.

ProTigo.

JIO. Tlio stock, property, nllairs and concerns of tho Bunk hIuiII
bo mntingccl by a IJoard of Directors, tho number to bo fixed as
herein jtrovidod, who shall chooso from among thomsolvos a Prosi'
dent and Vice-President; tho DirectorH nhall bo natural born or
naturalized Hubjccts of Her Majesty, and shall be elected on Huch
day in each year as may bo oi- may liavo been appointed by the
charter or by any bydaw of tho Bank, and at Buch time of tho day
and at suidi place whcie tho head office of tho Bank is fituato, as a
majority of Directors for the time being shall appoint; and
public notice shall bo given by tho Directors, by ))ublishing tho same
at least four weeks in a newspaper of tho place where the said head
offico is situate, previous to tho tiroo of h'^lding such election; and
the election shall bo hold and made by such of tho shareholders of
tho Bank as have jiaid all calls made by tho Directors and as shall
attend for tho ])urposo in thoir own proper jjorsons or by proxj, and
all elections for Directors shal be by ballot, and tho said proxies
shall only be capable of being heid and voted upon by shareholders
then present, and tho jiersons, to tho number fixed by bydaw, as
hereinbefore provided, who have tho greatest number of votes at
any election, shall bo Directors; provided that if it should happen
at any election that two or more persons havo an equal number of
votes, and tho election or non-election of one or more of such per-
sons as a Director or Directors doj^onds on such equality, then tho
Directors who shall havo had a greater number, or tho majority of
them, shall determine which of the said persons so having an equal
number of votes shall be the Director or Directors, so as to complete
tho full number; and in casecf a vacancy occuring in tho number
of Directors, such vacancy shall bo filled in tho manner provided by
the bydaws, but the non-filling of tho vacancy shall not vitiate the
acts of a quorum of the remaining Directors; and if the vacancy
so created shall bo that of a President or Vice-President, tho Direc-
tors at the first meeting, after completion of their number, shall,
from among themselves, elect a President or Vice-President, who
shall continue in ofiice for tho remainder of tho year. And the said
Directors, as soon as may bo after tho said election, shall proceed
in like maimer to elect by ballot two of their number to be Presi-
dent and Vice-President; provided always, that no person shall be
eligible to be or continue a Director, unless ho shall hold, in his
name and for his own use, stock in the said Bank to the amount
hereinbefore provided.

31.

1:l

1871.

Banh-:f and Bnnkinf:^.

Cap. 5.

2<|. Ill caHO it .should Imppon that on oloction of Directors hlioulil Faiiuro of
not bo mado on any (hiy when it oui^lit to have boon made, tlio yi^J'^'"|"g|^J'''
Corporation nhall not for (hat eauso bo dcomod to bo diissolvod, df.
but it nhall Ito hiwfiil on niiy otiior day to liold and maivo an
oloction of Directors in Huoh numuor as sliall have boon ])rovided by
tlio by laws mado by tho shareholilors in that behalf: and the Direc-
tors Ihen in ofllco shall remain so, until a new oloction shall bo
mado. j

IVi, At all mcotini,'3 of tho Directors of tho Bank not less than Quorum of
throe of thorn shall constitute a board or (quorum for tho transac- \v^f,'',°t°"' *''
tion of business; and at tho said meetings tho President, or in his presido.
absence tho Vice-President, or in their absence one of tho Directors-
present, lo l>o chosen pro tempore, shall preside ; ami tho President,
Vice-President, or President pro tempore so presiding, shall vote as
a Director, and if there bo an ccpial division on any question shall
havo a castinf^ vote.

Dirbctoi'g to
mako By-laws
for certain
purpDSOS, and
appoint
ollicors, Ac.

J$JI. Tho Directors for tho time being, or a majority of them,
shall havo power to make such by-laws and regulations (not repug-
nant to the provisions of thiaAct or tho laws of tho Dominion of
Canada) as to them shall appear needful and proper touching the
management and disposition of the stock, property, estate and
oflfocts of the Bank, and touching tho duties and conduct of tho
officers, clerks and servants omplovcri therein, and all such other
matters as appertain to the business of a Bank, and shall also have
power to appoint as many officers, clerks and servants for carrying
on tho said business, and with such salaries and allowances as to
them may seem meet ; and they may also appoint a Director or
Directors for any branch of the Bank : Provided always, that before
permitting any cashier, officer, clerk or servant of tho Bank to
ontor upon tho duties of his office tho Directors shall require him
to give bond or other security to tho satisfaction of tho Directors,
for tho due and faithful performance of his duties ; Provided also,
that all by-laws of the Bank lawfully made before tho passing of
this Act, as to any matter respecting which tho Directors can make
by-laws under this section (including any by-laws for establishing a
guarantee fund for the omploj-ces of tho Bank) shall remain in
force until they are repealed or altered by others mado under this
Act.

34. Tho Directors shall have power to make such calls of money c^ng . ^^.j
from tho several shareholders for the time being upon tho shares ^o^ enfon-Bj
subscribed for in the Bank by them respectively, as they may tind
necessary, and in the coi'porato name of tho Bank to sue for, re-
cover and got in all such calls, or to cause and declare such shares

Proviso :
OlDcora to
give Reo'irity.

Provisaf as to
existing by-
laws.

by action.

:.|

Cap.

Banks and Banking.

84 Vict.

r i

case.

to Ito forfeited <o llio Diinlc in oaso of non-payTnoni of any hucU call;
atvl an action ni;iy lio brou^^lil to recover any money duo on any
Huch call, an<l itHhall not l)o necessary to sn', forth llioHjtocial matter
in the declaration, Imt it nliall l»o HufHcient to allege that ihodofond-
ant is hoUler of one NJian* or more, as llio case may he, in the
capital NtocU of the Bank, and is indebte 1 to the I'anU for a call or
calls npon nuch Hharo or Hharos, in the KUtn to which the call or calls
amount, as the case may bo, statinaj tho amount and number of HUch
calls, whereby an action liath accrued to tho Rani, to recover tho
Prooiinfuch samo from such defendant by virtue of this Acr ; and it sliall bo
eufllcient to maintain niich action, to prove by any one witness (a
nhareh(ddcr boiuf^ conii)eten() that tho defendant, at tho time of
makintj any such call, was a Hliareh(dder in tiio nunibor of shares
alleged, and to produce the by-law or resolution of the Directors
making and jjro.scribing Buch call, and to j)ro\e notice thereof, given
in conformity with such by-huv or resolution ; and it hhall not bo
necessary to prove tho aj)pointment of tho Directors or any other
matter whatsoever : Provided that such calls shall bo made ut
intervals of not less than thirty days, and upon notice to be given
at least thirty days prior to tho day on which such call shall be
payable; and no such call shall exceed ten per cent, of each share
subscribed.

Proviso as to
amount and
int'""T<ud 01
calls.

Calls : and
how enforced
by forfeiture.

Proyiso :
Forfeiture
may be re-
mitted.

35* Provided also, that if any shareholder or shareholders refuse
or neglect to pay any or either of tho instalments ujion his, her or
their shares of the said capital stock at tho time or times appointed
by such call, as aforosaiil, such shareholder or shareholders shall
incur a forfeiture to the use of tho Bank of a sum of money equal
to ten per centum on tho amount of such shares ; and, moreover, it
shall bo lawful for tho Directors of the Bank (without any previous
formality other than thirty days' public, notice of their intention)
to sell at public auction the said share.?, or so many of the said
shares as shall, after deducting the reasonable expenses of tho sale,
yield a sum of money sufTicient to pay tho unpaid instalments duo
on tho remainder of tho said shares and tho amount of forfeitures
incurred upon tho Avhole ; and tho President or Vice-President,
Manager or Cashier of the Bank shall execute tho transfer to tho
purchaser of tho shares of stock so sold ; and such transfer being
accepted shall be as valid and eU'ectual in law as if tho same had
been executed by tho original holder or holders of the shares of
stock thoroby transferred ; Provided always, that nothing in this
section contained shall bo held to debar tho Directors, or tho share-
holders at a general meeting, from remitting cither in whole or in
part, and conditionally or unconditionally, any forfei.turo incurred
by tho non-payment of insfalments as aforesaid, or to prevent tho

Bank

'I ]1:

II ! [■{>■

1; I

84 Vict.

1871.

Banks and Hanking.

Cap. 5.

any hucU call ;
y duo on any
^))oc'i;il mutter
at tho (lofbnd-
vy 1)0, in tho
c for H call Ol-
io tall or calls
imlior of Huch
rocovor tho
<1 it HJiall 1)0
MO witness (a
Iho tinio of
>or of shares
ho Directorrt
hereof, given
hhall not be
or any other
bo made at
to 1)0 ju^iven
call shall be
if each share

old or 8 refuse
n hi.H, her or
cs ai)pointed
loldors shall
money equal
moreover, it
xny previous
r intention)
of tho said
of the sale,
alments duo
f forfeitures
■e-President,
nsfer to tho
xnsfor being
o same had
10 shaiea of
ling in this
r tho share-
whole or in
ro incurred
[prevent tho
Bank

Bank from enforcing Iho jiaymont of any cull or cnlln by Huit in
lieu of lortbiting the ^anio.

!Hi. At every annual moot iiig of the hharolioldors for the election Statomont to
« T-v i' • T . 1 /• 11 'lo lni<l Doforo

of Directors, the outgoing Directors ,<hall submit a clear and iiiil nnnunlKono-

statemont of the atlairs of tho Dank 'onfaining (,n the one |)art tho ["' '"«"";"(?

" '- by (llroctoHi

amount of tho cajjital stock paid in, tho amount of notes of tho and what tt
Bank in circulation and net profits made, tho balances duo to other " ' '"'"
banks and institutions, and the cash deposited in tho Bank, dis-
tinguishing deposits bearing inti-rest from those not benring interest
— and on tho other part, the amount of tho current coin, tho gold
and silver bullion, and the amount of Dominion Notes in the vaults
of tho Bank, the balances duo to the Bank from other baidis and
institutions, the value of tho real and other property of the Bank,
and tho amount of debts owing to tho Bank, including and par-
ticularising tho amounts so owing upon bills of exchange, discount-
ed notes, mortgages and other securities, — thus exhibiting on the
one hand the liabilities of or the debts due by tho Bank, and on the
other hand tho assets and resources thereof; and tho said statement
shall also exhibit the rate and amount of the last dividend declared
by the Directors, tho amount of reserved profits at the time of de-
claring tho said dividend, and the amount of debts due to tho Bank
overdue and not paid, with an estimate of tho loss which will
probably accrue thereon.

37. The books, correspondence and fur Is of the Bank sliall at Directors may
all times bo subject to the inspection of tho Directors; but no '""pect books,
shareholder not being a Director shall be allowed to inspect the
account of any person dealing with tho Bank.

J5S. It shall bo tho duty of tho Directors of the Bank to make Dividends and
half-y earl J'- dividends of so much of the profits of the Buiik as to '^'*"*" thereof,
tho majority of them may seem advisable, and not inconsistent with
the provisions of sections ten and eleven oi' this Act; and to give
public notice of the payment of such dividends nt least thirtj' days
previously.

POWERS AND OBLIGATIONS OP THE BANK. ^

Loans, Interest, Advances on Warehouse Receipts, &c.

S9. The Bank shall havo tho power to acquire and hold real and Power to hold

immovable estate for its actual use and occupation, and tho manage- ''*'*' ®^'.*'* '"'

„ . , ° occupation,

ment of its business, and to sell or dispose of tho same, and other

l^roperty to acquire in its stead, for tho same purposes.

40.

(

'•i|

i I

I I

1 ■■-

' I
If*

1 !■

If i,'

fi,; ' I.

Cap. 5.

Banks and Banking.

34 YiCT.

Power to take
mortgages as
additional
eecurity.

Business of the 4©. Tlic Bank shall not, either directly or indirectlj', lend money
Bank defined, qj. make ad\'ances upon the security, mortgage or hypothecation of
any lands or tenements, or of any shijxs or other vessels, nor upon
the security or ])loclgo of any share cr shares of the capital stock of
the Bank, or of any goods, Avares or merchandize, except as author-
ized in this Act; nor shall the Bank, either directly or indirectly,
deal in the buying and selling or bartering of goodi^^, "wares or mer-
chandize, or engage or be engaged in any trade ■whatever, except
as a dealer in gold and si<lvor bullion, bills of exchange, discounting
of promissory notes and negotiable securities, and in such trade
generr.Uy as ajipcrtains to the business of banking.*

41. The Bank may take, hold and dispose of mortgages and
hypotheques upon personal as "well as real property, by "way of
additional security for debts oo- racted to the Bank in the course
of its business ; and the rights, powers and privileges "n'hich the
Bank is herebj' doclarotl to have or to have had in respect of real
estate mortgaged to it, shall be held and possessed by it, in respect
of tiny personal estate which may be mortgaged or hypothecated
to it.

And to pnr- 40, rpi^Q Bank may purchase any lands or real estate offered for
mortgaged to siile under execution at the suit of the Bank, or exposed to sale by

it.if sold under ^jj^ jjank under a power of sale given to it for that purpose, in cases
executioD, &e. . j 1 >

"where, under similar circumstances, an individual could so pur-
chase, without any restriction as to the value of the lands which it
may so purchase, and may acquire a title thereio as any individual
purchasing at sheritl^'s sale or under a power of sale, in like circum-
stances, could do, and may take, have, hold and dispose of the same
at pleasure.

And to obtain 43, The Bank may acquire and hold an absolute title in or to
title, by re- ^und mortgaged to it as security for a debt due or owing to it,
lease, Ac., of either by obtaining a release of the equity of redemption in the
redemption ; mortgaged jiropcrty, or by procuring a foreclosure in any Court of
pri^r^'mor^t-^* Chancery or Equity, or by other means whereby, as between in-
gage, &Q. dividuals, an equity of redemption can by law bo barred, and may
l^urchase and acquire any prior mortgage or charge on such land.

May exercise 44. Nothing in any Charter, Act or law shall be construed as
power of sals, gyer having prevented or as preventing the Bank from acq-:iiirg
' ' and holding an absolute title to and in any such mortgaged nnds,

whatever

♦The following words are added to this section by 38 Vic, Cap. 17, See. 1. (Se»
p. 42). "Nor shall the Bank, either directly or indirectly, purchase or deal in any
i!>hare or shares of the capital stock of the Bank except where it is necessary to realize
upon any such share or shares held by the Bank as security £01 any pre-existing or
matured debt."

34 Vict.

ly, lend money
■polhccation of
'Sels, nor upon
iipitalKtock of
•cpt as author-
or indirectlj,
Avares or uier-
utover, except
e, tfiscounlinf
n isuc'h trade

ortgages and
)', hy Avay of
in the course
38 -which the
■spect of real
it, in respect
lypothecaled

lo oflered for
ed to ualo by
50SO, ill cases
)uld so pur-
:ids which it
y individual
like circum-
of the same

tie in or to
wing to it,
tion in the
ny Court of
jctween in-
1, and may
ich land.

)n8truc'.i as

I acq-rlrirg

ged nnds,

M'hatover

See.]. (Se»
' deal in any
iry to realize
3-exiBting or

1871.

Banks and Banking

Cap. 5.

25.

whatever the value thereof may be, or from exercising or acting
upon any power of sale contained in any mortgage given to it or
hold by it, authorizing or enabling it to sell or convey away any
lands so mortgaged.

4»>. The words "goods, ware and merchandize" when used in interpreta-
the six next following sections of this Act, shall be held to comprise '''^■^ clause,
in addition to the things usually understood thereby, timber, boards,
deals, staves and other lumber, and also all agricultural produce.

46. *Tho Bank may acquire and hold any cove receipt or any
rcc'oii>t by a cove keeper, or by the keeper of any wharf, yard,
harbor or other jjlacc, any bill of lading, any specitication of tim-
ber, or any receipt given for cereal grains, goods, wares or mer-
chandize stored or deposited in any cove, wharf, yard, harbor,
warehouse, mill, or other place in Canada, or t-Wipped in any vesbol
or delivered to any carrier for cai-riago from any place whatever to
any part of this Dominion, or through the same or on the waters
borderiiig thereon, or from the same to any other place whatsoever,
and whether such cereal grains are to be delivered upon such
receipt in Stjecies or converted rnto flour — as collateral security for
the duo pajment of any bill of exchange or note discounted by such
Bank in the regular course of its banking business, or for any debt
which may become duo to the Bank under any credit opened or
liability incurred by the Bank for or on behalf of the holder or
owner of such bill of lading, specitication or receipt, or for any other
debt to become due to the Bank ; — and such bill of lading, speciti-
cation or receipt, being so acquired, shall vest in the Bank fi-om
the date of the acquisition thereof, all the right and title of the last
previous holder thereof, and if such holder be the agent of tlie
owner, within the meaning of the iift3'-ninth chapter of the Con-
solidated Statutes of the late Province of Canada, then all the right
and title of the ow^ner thereof, to or in such cereal grains, goods,
wares or merchandize, subject to his right to have the same re-
transferred to him, if such bill, note or debt be paid when due ; and
in the event of the non-payment of such bill or note or debt when
duo, such Bank may sell the said cereal grains, goods, wares or
merchandize and retain the net proceeds, or so much thereof as
will bo equal to the amount duo to the Bank upon such bill or debt
or note, with interest and costs, returning the overplus, if any, to
the person from whom such instrument was acquired by the Bank.

47.

Bank may ac-
quire . .ad hold
wnrcliouse re-
cioipts, .'■■])ecifi-
outions, jo., as
collateral
socurily.

Lien of the
Bank on the
goods.

Bank may sell
the goods in
default of pay,
iiient of the
dtbt they are
pledged for.

*By 35 Vic, Cap. 8, Sec. 5., (See page 38). Sections 46, 47 and 48 are extended
to cereal grains in process of being converted into malt or flour, and to malt or
maltsters, and also to hogs when converted into bacon and hams.

■ t !

11
11

1 1

I I

IV-Vi

l.ir

Cap. 5.

Banks and Banking.

34 Vict.

Conditions
necessary to
such lien and
rights.

ProTiso.

When the
warehouse-
man, <S:c., 13
himself the
owner of the
goods.

47. *No transfer of any such bill of lading, specification of
timber or receipt shall bo ma<lo under this Act to secure the pay-
ment of any bill, note or debt, unless such bill, note or debt be
negotiated or contracted at the time of the acquisition thereof by
the Bank, or upon the understanding that such bill of lading, speci-
fication of timber or receipt would be transferred to the Bank, but
such bill, note or debt may be renewed or the time for the payment
thereof extended, without affecting such security.

4.S. *Wherc any person engaged in the calling of cove keeper,
keeper of a wharf, yard, harbor or other place, warehouseman,
miller, wharfinger, master of a vessel or carrier, curer and packer
of pork, or dealer in wool, by whom a receipt or bill of lading may
be given in such capacity, as hereinbefore mentioned, for cereal
grains, goods, wares or merchandize, is at the same time the owner
of or entitled himself (otherwise than in his capacity of warehouse-
man, miller, wharfinger, master of a vessel or carrier, cove keeper,
keeper of a wharf, yard, harbor, or other place, curer and packer of
pork or dealer in wool) to receive such cereal grains, goods, wares
or merchandize, any such I'cceipt or bill of lading or any acknow-
ledgment or certificate intended to answer the purpose of such
receipt or bill of lading, made by such jjerson, shall be as vaUd and
effectual for the purposes of this Act as if the person making such
receipt, acknowledgment or certificate or bill of lading, and the
owner or person entitled to receive such cereal grains, goods, wares
or merchandize wei'o not one and the same person, and in the case
of the curing and packing of pork, a receipt for hogs shall apply
to the pork made from such hogs.

40. All advances made on the security of any bill of lading,
specification, receipt, acknowledgment or certificate, shall give and
be held to give to the Bank making such advances u claim for the
repayment of 8uch advances on the grain, goods, wares or merchan-
dize therein mentioned, prior to and I»y ])referenco over the claim
of any uni:)aid vendor, any law, usage or custom to the contrary
notwithstanding.

Limitation of 50. But no timber, boards, deals, staves or other lumber shall l.e
time for hold- j^^j^j j^^ iiledp-e by the Bank for any period exceeding twelve ca'.en-

ing such goods i r> ./ ./ i o

in i)ledge, and dar months, csccpt by the cont^ent in writing of the person pledg-

^aio.'''°°'"' "'S ^^^ same, and no sale of any timber, boards, deals, stoves or

other lumber, shall be made under this Act until, nor unless^ notice

As to receipt
for bogs.

Lien prior to
claim of un-
paid vendor.

'tl'By 35 Vic, Cap, 8, Bee. 6. (see page 38). Sections 46, 47 and 48 are extended
to cereal grains in proooss of being converted into malt or flour, and to malt or
maltsters, and also to hogs when oonrerted into baoon and bams.

iiii

34 Vict.

1871.

Banks and Banking,

Cap.

Hpecification of
secure the pay-
note or debt be
tion thereof by
of lading, Bpeci-
to the Bank, but
for the payment

of cove keeper,
warehouseman,
irer and packer
I of lading may
)ned, for cereal
time the owner
Y of warchouge-
er, cove keeper,
I- and packer of
s, goods, wares
or any acknow-
iirpose of such
be as vaUd and
n making such
ading, and the
IS, goods, wares
md in the case
)g8 shall apply

bill of lading,
shall give and
. claim for the
OS or racrchan-
over the claim
» the contrary

umber shall lo

twelve ca'.en-

person pledg-

cals, citfls'es or

uulesS; notice

48 are extended
I and to malt or

of the time and place of such sale shall have been given by letter
mailed in the post office to the last known address of the pledger
thereof, at least thirty days prior to the sale thereof, and every
such sale shall be made by public auction after notice thereof by
advertisement, stating the time and place thereof, in at least two
newspapers published in or nearest to ihe place where such sale is
to be made, and in every issue of such newspapers during eight
days, which newspapers shall be those whose issue is most frequent
at or nearest the place where the sale is to be made, and if such
place be in the Province of Quebec, then at least one of such news-
papers shall bo a newspaper published in the English language, and
at least one other of ^uch newspapers shall be a newspaper published
in the French language ; and no cereal grains or goods, wares or
merchandize, other than timber, boards, deals, staves and other
lumber shall be held in pledge by the Bank for a period exceeding
six months (except by consent of the person pledging the same),
and no sale thereof shall be made by the Bank under this Act Notice to
until or unless notice has been given by letter mailed in the post owner,
oflice to the last known address of the pledger thereof at least ten
days prior to such sale.

51. The Bank shall not make loans or grant discounts on the Lien of Bank
security of its own stock, but shall have a privileged lien for any gha^/ehold^e^rs'"
overdue debt on the shares and unpaid dividends of the debtor for overdue
thereof, and may decline to allow any transfer of the shares of ouch
debtor until such debt is paid, and if such debt is not paid when
due the Bank may sell such shares, after notice has been given to
the holder thereof, of the intention of the Bank to sell the same, by
mailing such notice in the post office to the last known address of
such holder, at least thirty daj's prior to such sale; and upon such gajg j^ jgfau-,t
sale being made, the President, Vice-President, Manager or Cashier of payment of
shall execute a transfer of such shares to the ])urchaser thereof in *"*' * '
the usual transfer book of the Bank, which transfer shall vest in
such purchaser all the rights in or to such shares which were pos-
>.essed by the holder thereof, with the same obligation of warranty
oa h"s part as if he wore the vendor thereof, but without any war-
ranty from the Bank or by the officer of the Bank executing such
transfer :

And nothing in this Act contained shall prevent the Bank from what stock,
acquiring and holding as collateral security for any advance by or *°"' *^%^*°''
debt to the Bank, or for any credit or liability incurred by the Bank collateral
to or on behalf of any person (and either at the time of such advance *®°"'''y-
bj^, or the contracting of such debt to the Bank, or the opening of
Buch credit, or the incurring of such liability, by the Bank), the

\ ' .1!

r"!

Is:

i ' \

Cap. 5.

Banks and Bankinsi;.

84 Vict.

Bank not
liable to
jionalty for
usury. Kate
of interest
recoverable.

Rates of pre-
mium chiirge-
ublo on notes',
&.O., discount-
ed elsewhere
than where
payable, but
at some
branch of the
Bank.

Th« same
when payable
elsewhere
than at a
branch of the
Bank.

Bhares of the capital stock of any other Bank, tho bonds or deben-
turoH of Municipal or other Corporation.s, or Dominion, Provincial,
British, or Foreign public securities ; and such stock, bonds, deben-
tures, or securities may, in case of default to pay the debt for secur-
ing which they were so acquired and held, l)o ilcalt with, sold, and
conveyed, in like manner and subject to tho same restrictions as are
herein provided in respect of stock of tho Bank on which it has
acquired a lien under this Act.*

litS. Tho Bank shall not bo liable to incur any penalty or forfeit-
ure for usury; and may Htipulato for, take, reserve or exact any rate
of interest or discount not exceeding seven ])or centum ])cr annum,
and may receive and take in advance any such rate, but no higher
rate of interest shall bo recoverable by the Bank. Any rate of inte-
rest whatever may be allowed by tlio Bank upon money deposited
with it. f

»>3. Tho Bank may, in discounting at any of its places of busi-
ness, branches, agencies or ofllces of discount and doj)osit, any note,
bill, or other nogotiablo security or paper jiayable at any other
of its own places or seats of business, branches, agencies or oflBcesof
discount and deposit in Canada, receive or retain in addition to tho
discount any amount nofc exceeding tho following rates per centum,
according to tho time it has to run, on the amount of such note,
bill or other negotiable security or paper, to defray tho cxpcneca
attending tho collection thereof; that is to say: under thirty days,
one-eighth of one per cent., — thirty days or over, but under sixty
days, one-fourth of one per cent., — sixty days and over, but under
ninety days, three-eighths of one \iQY cent., — ninety days and over,
one-half of one per cent.

54. Tho Bardi may, in discounting any note, bill or other nego-
tiable security or paper, bo.ia fide payable at any place in Canada
different from that at which it is discounted, and other than one of
its own places or seats of business, Immchcs, agencies or offices of
discount and deposit in Canada, receive and retain in addition to
the discount thereon a sum notexceedingone-half of one per centum
n tho amount thereof, to defray the expenses of agency and charges

in collecting the same.

Bank

* It is enacted, in amendment, by .35 Vic, cap. 8, sec. 6, (see p. t'?8)as follows : — "Tho
provisions of tho second paragra])h of the fifty-first section of tho said Act, as to the sale
of stock, bonds, debentures and securities in case of default to pay tho debt for securing
which they were acquired by a bank, may bo departed from or varied by any agree-
ment between tho Bank and tho owner of such stock, bonds, debentures or securities,
made at tho time at whieh such debt was incurred, or if tho time of payment of such
debt has been extended, then by an agreement made at the time of such extension."

t See 35 Vic, Cap. 8, sec. 2, (p. ;i7).

.':

til
if

■

34 Vict. 1 1^^^^-

bonds or debon-
nion, Provincial,
■k, bonds, dcben-
s debt for secur-
with, sold, and
Ntrictions as arc
m which it ha.s

iialty or forfoit-
!• exact any rate
iini ]ioi- annum,
, but no higher
ny ratcof inte-
Jney deposited

) laces of busi-
osit, any note,
at any other
ies or offices of
iddition to the
!.s j^er centum,
of such note,
tlio e.Ypeneos
r tiiirty days,
t under sixty
SI', but under
ays and over,

r other nego-
in Canada
:• than one of
or offices of
addition to
5 per centum
and charges

Banks and Banking.

Bank Notes, Bonds, Ac.

Cap. 5.

able.

)w aasign-

Proviso : Offi-

55. The bonds, obligations and bills obligatory or of credit of Bonds, obiiga-
Iho Bank, under its corporate seal and signed by the President or th'J^Bank'by
Vice-President and countersigned by a Cashier or Assistant Cashier, ^.'^^;;';jJo^b«
which shall bo made payable to any person or persons, shall bo
assignable by endorsement thereon ; and bills or notes of the Bank II
signed by the President, Vice-President, Cashier or other officer '
appointed by the Directors of the Banl: to sign the same, promising
the payment of money to any person or persons, his, her, or their
order, or to the bearer, though not under tho corporate seal of the
Bank, shall be binding and obligatory on it in like manner and with
the like force and otlcct as they would bo ujjon any jjrivato person,
if issued by him iu liia private or natural capacity, and aliall bo
assignable in like manner as if they wore so issued by a private per-
son in his natural capacity; Provided always that nothing in this
Act shall be hold to debar the Directors of tho Bank from authoriz- ««'p™»y ^
ing or deputing from time to time any Cashier, Assistant Cashier or sign,
officer of tho Bank, or any Director other than tho President or Vice-
President, or any Cash iei", Manager or Local Director of any branch
or office of discount and deposit of the Bank, to sign the bills of the
Bank intended for general circulation, and payable to order or to
bearer on demand,

56.. All bank notes and bills of the Bank whereon tho name or jj^nk notes
names of any person or persons entrusted or authorized to sign such may be signed
notes or bills on behalf of tho Bank, shall or may become impressed ^ "*" """'"
by machinery provided for that purpose by or with the authority of
the Bank, shall bo and shall bo taken to be good and valid, to all
intents and purposes, as if such notes and biH.s had been subscribed
in the proper handwriting of tho person or persons entrusted or
authorized by the Bank to sign tho same respectively, and shall be
and be deemed and taken to be bank notes and bills within the
meaning of all laws and ; :;atutes whatever, and shall and may be
described as bank bills or notes in all indictments and civil or crimi-
nal proceedings whatsoever, any law, statute or usage to tho contrary
notwithstanding.

ollows :— "The
t, as to tho sale
bt for securing
by any agree -
s or securities,
yment of such
extension."

INSOLVENCY.

Cap. 6.

Banks and Banking.

31 Vict..

Suspension of
piiymont for
60 days, to
forfeit eliiirler,
except as to
certain pur-
poses. As-
siffnco to bo
appointed.

Liability of
ahuroliolders
ill case of in-
suflioiency of
assets to meet
liabilities.

Calls on share-
holders to
moot such lia-
bility ; forfei-
ture for non-
payment.

Proviso as to
directors.

Proviso.
Tftho Bank be
frt commandite.

- — "^-

INSOLVENCY.*

ST* Any suspension by tho Bank of payment of any of its
liabilities as tboy accrue, in specie or Doniinion notes, shall, if it
continues for ninety days, constitute the Bank insolvent and operate
a forfeiture of its Charter, so far as regards the issue or reissue of
notes and other Banking operations; and the Charter shall remain
in force only for the purpose of enabling the Directors or tho assignee
or as8ignee^, or other legal authority (if any bo appointed in such
manner as may by Itiw be provided), to make tho calls mentioned in
the next following section of this Act and to wind up its business :
And any such assignee or assignees or other legal authority shall,
for such purposes, have all the powers of the Directors.

HH* In the event of the j^roperty and assets of tho Bank becom-
ing insufficient to pay its debts and liabilities, the shareholders of tho
Bank shall be liable for tho deficiency so far as that each shareholder
shall bo so liable to an amount (over and above any amount not paid
up on their respective shares) equal to the amount of their share.-i
respectively; and if any suspension of payment in full in specie or
Dominion notes, of all or any of the notes or other liabilities of tlio
Bank, shall continue for six montJis, tho Directors niay and shali
make calls on such shareholders, to the amount they may deem
necessary to pay all the debts and liabilities of the Bank, without
waiting for the collection of any debts due to it or the sale of any of
its assets or property; such calls shall be made at intervals of thirty
days, and upon notice to be given thirty daj's at least prior to tho
day on which such call shall be payable; and any such call shall not
exceed twenty per cent, on each share, and payment thereof may be
enforced in like manner as for calls on unpaid stock, and the first of
such calls shall bo made within ten days after the expiration of tho
said six months ; and any failure on tho part of any shareholder
liable to such call to pay tho same when due, shall operate a forfeit-
ure by such shareholder of all claim in or to any part of the assets of
tho Bank, such call and any further call thereafter being neverthe-
less recoverable from him as if no such forfeiture had been incurred.
Provided always, that nothing in this section contained shall be con-
strued to alter or diminish the additional liabilities of tho Directors
hereinbefore mentioned and declared : Provided, also, that if the
Bank be en commandite and the principal partners are personally
liable, then, in case of any such suspension such liability shall at
once accrue and may be enforced against such principal partners,

without

* See 39 Vic, cap. 31 (p. 43), as to the winding-up of Insolvent Banks.

11871.

Banks and Banking:

Cap 5.

without waiting for any sale or diHCUSsion of the property or assets
of the Bank, or other preliminary proceedings whatever, and the
I provisions respecting calls shall not apply to such Bank.

{(O. Persons who, having been sharohokloi-s in the Bank, have Liability of
only transferred their shares or any of them to others or rogistoj-ed Jjfjf^';!^''"
the transfer thereof within one month before the commencement transforrcd
of the suspension of payment by the Bank, shall bo liable to calls ^uMn aUmit-
on such shares under the next preceding section, as if they had not ed time before
transforrcd them, saving their recourse against those to whom they «"*P^""'"'-
were transferred ; and any assignee or other officer or pert-on ap-
pointed to wind np the affairs of the Bank, in case of its insolvency,
shall have the powers of the Directors with respect to such calls.
Trovidcd that if the Bank bo en commandite, the liability of the
principal partners and of the commanditaires shall continue for such
time after their ceasing to bo such as may be provided in the
Charter of the Bank, and the foregoing provisions with respect to
the transfer of shares or calls shall not apply to such Bank.

OFFENCES AND PENALTIES.

CO. If any Cashier, Assistant Cashier, Manager, Clerk or Ser- Embezzle-
vant of the Bank secretes, embezzles or absconds witli any Bond, ™°°*jj°^p''^°g^^^
Obligation, Bill obligatory or of credit or other Bill or Note, or of t'ho Banlt to
any security for money, or any money or clTocts entrusted to him J^i^p uYish^-"*^
as such Cashier, Assistant Cashier, Manager, Clerk or Servant, able,
whether the same belong to the said Bunk or bvlong to any person
or persons, body or bodies, politic or corpoi*ato, or institution or
institutions and be lodged with the said Bank, the said Cashier,
Assistant Cashier, Manager, Clerk or Servant so offending and
being thereof convicted ir duo form of law, shall be deemed guilty
of f^lon3^ and shall be punished by imprisonment at hard labor ia
the Penitentiary for any term not less than two years, or by im-
prisonment in a Gaol or place of confinement for any term less
than two years, in the discretion of the Court.

61. If any President, Vice-President, Director, Principal Part- President, <to ,
nor en commviandite, Manager, Cashier or other officer of the Bank ^j.^f"^e^°a"o
wilfully gives or concurs in giving any creditor of the Bank any any creditor,
fraudulent, undue or unfair preference over other creditors, by ^isdemeanM*!
giving security to such creditor or by changing the nature of his
claim or otherwise howsoever, ho shall bo guilty of misdemeanor,
and shall further be responsible for all damages sustained by any
party by such preference.

6S.

' I

Cap.

Banks and Banking.

34 Vict.

Making false
statement in
Returns, <t:o.,
to be misde-
meanor, &e.

02« Tho making of any wilfully false or doccptivo Htatomont in
any account, statement, return, report or other document respect-
ing tho aflfaira of the Bank, shall, unless it amounts to a higher
offence, be a misdemeanor, and any and every President, Vice-Presi-
dent, Director, Principal Partner en commandite, Auditor, Manager,
* Cashier, or other oflScor of tho Bank preparing, signing, approving

or concurring in such statement, return, report or document or
using the same with intent to deceive or mislead any party, shall
bo held to have wilfully made such false statement, and shall
further be responsible for all damages sustained by such party in
con8equen( thereof

Directors re- ^3. Any Director refusing to make or enforce, or to concur in
calls under*''* "^^^^ing Or enforcing any call under the fifty-eighth Section of
section 58, this Act, shall bo deemed guilty of a misdemeanor and shall
demeanor"'*' ^® personally responsible for any damages suffered by such
default.

Oiving false
receipts by
ivarehouse-
mec, millers,
<fea., under this
Act to be a
mudemeoDor.

False state-
ments in re-
ceipts, &c.,
under section
46, to be mis-
demeanor.

04. If any Miller, Warehouseman, Master of a vessel, For-
warder, Carrier, Wharfinger, Keeper of a Cove, Yard, Harbor or
other place for storing timber, deals, staves, boards or other lum-
ber, curer or packer of pork, or dealer in wool, Factor, Agent or
other person, or any clerk or person in his employ, knowingly and
wilfully gives to any person any writing purporting to bo a receipt
for, or an acknowledgement of any cereal grain, timber, deals,
staves, boards or other lumber, or other goods, wares, merchandize
or property, as hav ig been received in his Warehouse, Vessel,
Cove, Wharf or other place, or in any such place about which lie is
employed, or as having been in any other manner received by him
or the person in or about whose business ho is emploj-ed, before tho
goods or pro])erty named in such receipt, acknowledgment or
writing have been actually so received by or delivered to him or
his employer, with the intent to mislead, deceive, injure or drfraud
any person or persons whomsoever, although such person or per-
sons may be then to him unknown ; or if any person knowingly
and wilfully accepts or transmits or uses any such false receij^t,
acknowledgment or writing, the person giving and the person
accepting, transmitting or using such false receipt, acknowledg-
ment or writing, shall severally be guilty ( / a misdemeanor.

65. The wilfully making any false statement in any such receipt,
acknowledgment or certificate as in the forty-sixth section of this
Act mentioned, or the wilfully alienating or parting Avith, or not
delivering to the holder or indorsee any cereal grain, goods, wares
or merchandize mentioned in such receipt, acknowledgment or cer-
tificate,

34 Vict. ■ 1871.

Banks and BnnJdnrr.

Cap. 5.

'0 Htatomont in
umont rospcct-
ts to a liighor
nl, Vico-Prosi-
litor, Man age I-,
iig, approving
document or
\j party, Hhall
nt, and shall
such party in

[• to concur in
th Section of
or and shall
od by such

vessel, Por-
I, Harbor or
r other lum-
or. Agent or
lowingly and
> bo a receipt
mber, deals,
merchandize
)use. Vessel,

which he is
ived by him
i, before iho
sdgmont or
d to him or
) or drfraud
son or per-

knowingly
Jso receipt,
the pei'son
cknowledg-
lor.

ich receipt,
;ion of this
ith, or not
•ods, wares
ent or cer-
tificate,

tifioato, contrary to the undcrluking therein expressed or implied,
nliall bo a misdemeanor.

<Mt. If any otlenco iu either of the t»\-o next preceding sections Offences by

11 .ji 1 1 1 1 . /. 1 ■ ■ 1 .mcnibersot

mentioned bo committed by the doing oi anything in the name ol jmrtnershii).
any lirm, company or copartnership of persons, the porsou by whom
such thing is actually done, and any person who connivox at the
doing thereof, shall bo deemed guilty of the otlenco, and not any
other person.

<t7» Any person convicted of a misdemeanor under this Act shall, Punishment
on conviction, bo liable to bo imprisoned in any gaol cr place ot con- por under this
finemont for any term not exceeding two years, in the discretion of ■'^^''•
the Court before which the conviction shall bo had.

CH. No private person or party, except a Chartered Bank, shall ciiartorcd
issue or re-it^suo, make, draw, or indorse, any bill, bond, note, cheek t(."i"suo°i"o^'8
or other instrnmont, intended to circulate as money, or to bo used as ii'tonded :or

. , I /. I'irciilation.

a substitute for money, for any amount whatever, under a penalty ot
four hundred dollars, to bo recovered with costs, in any court having
civil jurisdiction to the amount, by any party who will sue for the
same; and one-half of such sum shall belong to the party suing for
the same, and the other half to Her Majesty, for the pulilic uses of
the Dominion :

The intention to pass any such instrument as money, shall be what shall be
presumed, if it bo made for the payment of a less sum than twenty deemed such
dollars, and bo payable cither in form or in fact to the l)earer
thereof, or at sight or on demand, or at less than thirty daj-s there-
after, or bo overdue, or bo in any way calculated or de.-^igncd for
circulation, or as a substitute for money; unless such instrument bo
a check on some Chartered Bank, paid by the maker dii-cetly to his
immediate creditor, or a promissory note, bill of exchange, bond or
other undertaking, for the payment of money ])aid or delivered by
the maker thereof to bis immediate creditor, and bo not liesigned to
circulate as a substitute for money:

Provided always, that tlu> Ilalifix Banking Company may, until p-.-ovi^o ns to
the end of the year 1874, conlimiy to rc-issue their notes now in Jfi'l'tj^ix l^'ini

I . , , '"o Coiiipanj.

circulatujn, but the whole of suoli notes shall, as tar as lu'ucticable,
be called in and withdrawn by the end of the said j'car.

NOTICES.

6i>. The several jiublic notices by this Act required to bo given, iiow notices
shall be given by advortisomont in one or more of the newspapers simu'bo'givcn'
published at the place where the Head Oflico of the Bank is situate,
3 and

'^1

Cap. 6.

Banks and Bon /dug.

04 VlCT.

^'1

atid in (lio Canmla duzcttc uv Mich otlit-i" (lazcttc a.s hhall lui f^enc-
rally known and clo:>crilio(l an tlio (lOiclnl (i'it::c(te lor llio imblicalioii
of official documents and iiod'cos emanating from tl:o Civil Govern-
ment of tiii.s Dominion.

FUTURE LEOIrtLATIOV.

ifnnk to bo 70. Tlio tank shall 1)0 Huhjcct to 8uch provisions of any genera!

'"•I'lcrai*"'"^ or special winding-up Act to bo passed by Parliament as may bo

M'indiiig-iip declared to a])])ly to Hanks ; and no spccia Act which Parliament

may <lccni it right to ])a^s for wiiiding-iij) iho ail'airs of the IJank in

case of its iniiolvency, ^llall be deemed .'lu infringement of its rights

or of the privileges conferred by its Charter,

And to any '^^* The Bank shall always Ijc subject to any general provisions

(icnoral Dunk respecting Banks which Parliament may deem ncccst^ary for the
public interest.

SPECIAL PROVISIONS AS TO CKUTAIN HANKS.

What sections '^2. Tho Baidc of British Xorth America, whicii, r>y tiic terms of

shall apply to jts i^resciit Charter, is to le subject to the frcr.eral laws of tho J)omi-

Lank ol Urit. ... -r. , i -r. i • i n

N'th America, nioii, With re.'-pect to Banks and J5anking, ^■hall not isi-uo or re-issuo

in Canada any note for a less sum than four dollars, .iiul any sucii
note of tho said Bank outstanding shall bo called in and rc<leemeda8
• hoou as practicable: and tho ])rovisions contained in the iiinlii,

twelfth, thirteenth, fourteenth, sixteenth, fortylifth, fortj^-sixth,
forty-seventh, forty-eighth, forty-ninth, fiftieth, filt3-first, fifty-
second, fifty-third, fifty-fourth, sixtieth, sixty-fir.st, tixty-second.
sixtj'-fourth, sixty-fifth, sixty-sixth, sixty-seventh, sixty-ninth, and
seventy-first f cctiona of this Act shall ajiply to tho said Bank ; those
contained in the other sections shall not apply to it.^=

TT . .• 73. This Act shall not aiiplyto any now e>:.isting Bank not men-

IIow existing ^ ^ -^ - '^

Banks not in tioncd in the schedule thcrcunto annexed (exccpt the Bank of Britisii

I'tmounacT^ North America to the extent aforesaid antl La Banquo du Peuplc to

this Act. the extent hereinafter mentioned) unless the Directors of such Bank

shall, by sjiecial resolution, ap])ly to the Treasury Board that the

provisions of this Ac'- may lo extended to such Baidc, nor unless the

Treasury Board allows tiich application, and upon publication in tho

Official Gazette of such resolution, and of tho minute of the Treasuiy

\ Board thereon, allowing such application, such Bank shall come

under tho provisions of this Act.

* By 35 Vic, cap. 8, sec. 1 (see p. 36), Bection 15 is declatcd to also apply to the
Bank of British North America.

^4 YiCT.

.■^Iiall l)(i ECHO-
IC |)iiblic'uti(>u
Civil Govern-

r any ^'oncra!

nt an may bo

I Parliament

liic IJank in

t of its risrlits

■ul ])rovisions
ssai-y for tlio

1871.

Jianks and Bankiuir.

Cap. T)

\ii

uio iorniH oi"
of the J)omi-
uo oj' rc-is8U0
ind any sucii
redeemed as
II llio niiitli,
, forly-.sixll),
}-«r.st, flfly.
f-ix(y-sccond.
ty-nintli, and
IJiMik ; tho.-o

mk not men-
idc of British
:lu Tcuplo 1o
)f frnch Eajdc
»rd (hat Iho
or unless the
•ation in the
ho Treasury
."-hail come

74.

D iipjily to the

74. In imrsiuuu'O of tho applicalion madi^ liy Iho Bank of Xova rapltiil of
Scotia in that behalf, it shall bo lawful for tho sharrliolders of Iho ''""k "f Nova

' _ ■Scutiii may b«

said Bank, at any s|i(>cial n('n<'ral mcotin^ ealled for tho ])nr|ioso, roducod.

and by ri b^'-Unv to bo passed thereat, to redneo Iho caiiilal and

shares of Iho saiJ Bank by an nnujunt not exceeding thirteen per

(till, thereof respectively, and tho shares and capital shall (hereafter

I'u reckoned at tho anvount to which they shall bo so reduced.

'7!i» Sections four, thirty-nine to fif(y-fonr bo(h inclusive, sixty, ^yhn^ goptioni
sixtv-ono and sixtv-two, and six'tv-four (o sixtv-ciirht l)o(h inchisivo, "•"»" "'•/hull

r" f r. 1 • nut llpjily to

shall apply to Ld Jlan'iui; dii Pciiplc from and after (ho passing; of La ihuKiuo du
this Acl, and all tho other provisions of this Act [excojjt (hoso con- J'""!''*'-
(ained in sections one, two, three, five, six, seven, twen(y-sevon,
twenty-nino, thirty, (liirty-ono, thir(y-(wo, (hiif-y-diree, (hirty-fivo,
thirty-six, thirty-seven, fin3"-sevcn, tifty-eii;-h(, lifl3--nine, sixty-diroo,
soventv, Heven(y-two, sovent^'-threo anil sevcn(y-f()ur, and so nuudi
of section twonty-eight as is declared not to apply to Banks en com-
mandit''~\ shaii applj from anil after tlio first day of July next to Xa
Banquc clu Pciiplc, provided that whercvei* tlu^ word " Directors" is
used in any of tiie sections which ajtply (o (he said Bank it shall bo
read and conslrued as meaning tho principal ])artners or members
of tho Corporation of tho said Bank ; and so much of tho Act incor-
porating the said Baiik or of any Act amending or continuing it as
may bo inconsistent with any section of (his Act aiiplyiug to tho
said Bank, or which makes any provision in any matter provided for
liy tho said sections other than such as is hereby made, is hereby
repealed.

REPEALINQ AND SAVINO CLAUSES.

7C. The Act passed in tho thirtj'-third year of Tfor Majesty's .^3 vict., c. 11,
reign, ehaptoiod eleven, and intituled " yl« Act respecting Banks^'^^'''^'^ '
and Banking,'" is hereby repealed ; and tho Act passed in tho thirty-
first 3-car of Her Majesty's reign and int'itulod "^lu Act respecting
Tianks,'" is hereby rei)caled in so far as respects Banks (o which this
Act applies, including the Bunk of British North Amci'ica anil La
Banquo du Peupic, and shall ceaso to apply to them after th' ^uss-
ing of this Act (or after they respectively como under its provisions,
if they are now existing Banks and not mentioned in tho schedule), c. 21, na t. '
except as to rights theretofore acquired under or oircnccs committed certain Banks,
against it, but shall remain in forco as regards other Banks until tho
end of tho session of Parliament commencing next after tho first
day of January, in the year of Our Lord one thousand eight hundred
and seventy-two.

77.

Cap. 5, 8.

Bnnki and Banh inff.

34, 85 Vict.

Saving p«nd- 77. Notliiiii,' ill this Act coiitaiiiod hliali ntlVn t any caso ])On(liiig
ing oa«cj. AvIiMi it nIkiII como into lorcc, hut Hiich caso Mhull bo (iocidc<l nn if
this Act had iiol l)cou ])as.sod.

8' " DI'I-K.

Ban/^s ifhose Charters 'ire Continued by this Act.

ThoBanivofMoiitmil.

Qiioi)cc Bank,

Cily Haiilc.

Niai^aru ])istrict Bank.

^IoIsoh'h Dank.

JJank of Toronto.

Ontario Bank.

Eastern Township.s' Bank.
La BaiKino Nationaio.

BaiKjuc Jac([Uo.s Carticr.

The Mt>rclmnts' Bank of Canada.
Hoyai Canadian Bank.
Union Bank of Lower Ca-
nada.
Canadian I >ank of Commerce.
.Moclianics' Baidc.
Dominion Bank.
Merchants' Bank of Halifax.
Bank of Xova Scotia.
Bank of Yarmouth.

Proamblo.
Si Vict., c. 5.

CAP. Yin.

An Act to amend the Act relating to Bank.s and Banking,

[Assented to l-lth June, 1872.]

IN amendment of the Act passed in tlio tiiirt3--tourlh year of Ilcr
Majesty's reign, intituled: *^ An Act relatinj to BanliS and Bank-
ing," — Her Majcst}-, hy and with the advice and consent of the Sen-
ate and House of Commons of Canada, enacts as follows:

Error in see- !• Whereas by the fifteenth section of the Act cited in the pro-

tion 72, as to jiiuble, it is pi'ovided that every Bank to which the said Act applies,

Hank of ^ , 1 n

tiritish Nortli shall bo exempt from the tax on the average amount of its notes in

circulation, to which other Banks will continue lialile, and from the
obligation to hold any portion of its capital in Government Deben-
tures or debentures of any kind, and the Bank of British North
America is one of the Banks to which the said Act applies, and ia
so described in section seventy-six, and is subject to the obligations
in consideration whereof the exemptions in the said tiftccnth section
were granted, but by a clerical error in the seventy-second section,
enumerating the sections which apply to the said Bank, the said
fifteenth section was omitted, and it is expedient to remedy such
ei"ror, — therefore and for the removal of doubt, it is declared
and enacted that the said fifteenth ecction shall apply to the said
Bank, and shall bo held to have so applied from tho time when tho
said section came into force with respect to the Banks mentioned
in the Schedule to tho said Act.

America
corrected.

2»

i' 11 iU

1872.

Banks and Lanhin'';.

Cap. 8.

!!i. Ami wlici'Ciis i( is provido*! hy Actw ol' tlio I'ml'n noiit o\'
Canadii, lliat UiiiiUs shall nut Ih' Hal'" lo incur any ])Otialty or I'or-
foituro for iiHury, and iiiny htipulalc \ take, reserve, or exact any
rate of Interest or disecjunt not exceedin/^ novon jier tentuni \wr
annum, and may receive and lake in advance any Kuch rale, but no
higher rate of interest hhall be recoverablo by the bank ; — and
AvhoroaH in Homo of the Provinces of Canada, lawH uy bo in force,
im])Osing penalties on ])arties other than Banks, v taking, or
btijiulating, or paying more than a certain rate of interest, and
doubts may arise as to the effect of such laws in certain cases, as to
parties other than the Bank, to negotiable securities discounted or
otherwise acquired and hold by any Bank, — therefore, 't is declared
nnd onaclod, that no ])romissory note, bill of exchange or other
negotiable security discounted by, or indorsed or otherwise assigned
lo any Bank, lo which any such Act of the Parliament of C nada
as aforesaid applies, shall be held to bo void, usurious, or tainted by
usury, as regards such Bank or any malcer, drawer, accejitor, indor-
fcr, or indoi'seo tlioreof, or other ])arty thei'cto, or bona jhlc holder
thereof, nor shall any party thereto bo subjuct (o any penalty or
forfeitui-e, by reason of any rate of interest taken, t.tipulated or re-
ceived by such Bank, on or with respect to such promissory note,
bill of exchange, or other negotiable fccurity, or ]»ai(l or allowed b^--
any party thereto to another in comi)onsation for, or in consideration
of the rate of interest taken, or to be taken thereon by such Bank, —
Init no parly thereto, other than the Bank, shall bo entitled to
recover or liable to \x\y more than the lawful rate of interest in the
Province where the suit is brought, nor shall the Bank be entitled
to recover a higher rato than seven \)qv cent. ])cr annum; and no
innocent holder of or party to any promissory nolo, bill of oxchango,
or other negotiable security, shall in any case bo deprived of any
remedy against any party thereto, or liable to any penalty or for-
feiliu'o, by reason of any usiuy or oflence against the laws of any
such Province respecting interest, committed in respect of such note,
bill or negotiable security, without the complicity or consent of such
innocent holder or party.

I*. It shall bo lawfid for any Eaiik lo which the Act first lierein
<'ited applies (including tho Bank of British North America, and La
Banque du Peuple) to receive deposits from any person or persons
Vvhomsoever, whatever bo his, her or their ago, status or condition
in life, and whether such ])crson or persons bo qualified by law to
enter into ordinary contracts or not, and from lime to time to repay
any or all of tho principal thereof and to pay the whole or any part
of tho interest theroon, to such person or persons respectively, with-
out the authority, aid, assistance, or intervention of any person or
persons,

Ilocltnl: upury
lawn in oortniQ
J'ruvincof.

Notei, ko., not
to bo iloeiuod
iiRurioiiH by
reason (;f
intorcxt taken
by liankM, or
aUoweil to oDtt
party by
another In
consideration
of Buch
interest; and
no innocent
iiatty to bo
liable to
ponalt}' or
loss of remedy
by reason of
UHury by
others.

Bonks to
which 34 Vict.,
c. 5. applies
niny receive
deposits from
niiuors, A:c.,
nnd repay
thorn, unless
liUvfuUy
cl.airaed by
others bofora
repayment.

ll i.l

■

I, ^ .H

V .

/fl

Cap. 8.

Banks and Banking.

35 "Vict.

Proviso : aa to
amount.

Such Banijs
not bound to
eeo to trusts to
whiA such
deposits may
be si'bjcct.

Provisions as
to cereal
grains, malt,
andhogp,
extended.

Sect. 51, par.
2, amended
as to sale of
Btook pledged.

Advances on

vessels

building.

persons!, ofScial or officials, bcini,' rerjnircd, unless before such repay-
ment the money so deposited in and repaid by the Bank, belawfiillj'
claimed as tlio property of some other party, in which ease it may
be paid to the dejiositor with the consent of the claimant, or to Iho-
claimant with the consent of the uepositor, any law, usage, or custom
to the contrary notwithstanding: — Provided always, that if the
person making any deposit, as aforesaid, could not, under the law of
tho Province where the deposit is made, deposit and Avithdraw
money in and from a Bank without this Act, then and in that case
tho total amount of deposits to bo received from such person on
deposit shall not at any time exceed the sum of live hundred dolUirs.

4. No such Bank shall be bound to see to tho execution of any
trust, whether expressed, implied, or conslnictive, to which any
deposit mado under the authorily df this Act may be subject; and,
except only in tho case of lawful claim by some other \)'<xv{y before
repayment, the receipt of tho ])ci's()n in whose namoany such deposit
Btands, or, if it stand in the name of two ])er.--ous, the rcceijit of one,
and if in the names of more than two persons, the receipt of a
majority of Buch persons, shall be a sufcient discharge to all con-
cerned for the payment of any money payable in respect of such
deposit, notwithstanding any trust to which such deposit may then
be subject, and whether or not the 15auk sought to bo charged with
such trust, (and with whom the dejjosit may have liccii made), liad
notice thereof; and no such Bank shall be bound to see to tho appli-
cation of the money ].aid upon such receipt, any law or usage to
the contrary notwithstanding.

5. The provisions contained in sections tort3'-six, forty- seven and
forty-eight of tho Act cited in the Preamble ai-e hereby extended to
cereal grains in process of being converted into malt or Hour, and
to malt and maltsters, and also to hogs when converted into bacon
and liams.

C The provisions of the second paragraph of the tlfty-first section
of tl,e said Act as to tho sale of stock, bonds, debentures and secur-
ities in case of default to p.ay tho deut for securing which they wero
acquired by a bank, may be departed from oi- varied by any aaree-
mcnt between tho bank and tho owner of such stock, lionds, deben-
tures or securitic', Mde at the time at which such debt was incurred,
or if the time of payment of such debt has Iieen extended then by
an agreement mado at the time of such extension.

T. Any bank advancing money in aid of the building of any
ship or vessel, shall have tho same right of acqui'ing, and holding
security upon such ship or vessel while building and when com-
pleted.

35 \iCT.

suoli repay-
bc lawfully
ISO it may

or to tho
, or custom
that ir the
' tl)o law of

Avitlulraw

I that caso

])cr,son on

red dolUirs.

:ion of any
ivhich any
Djcct ; and,
rly bcforo
K'h deposit
ii])t of one,
■ceipt of a
Id all con-
3ct of (such
may then
irgcd with
iiado), had
tho appli-
• usage to

■seven and
:tended to
flour, antl
nto bacon

rst section
ind 8ecur-
Ihey were
my aarec-
ds, deben-
t incurred,
d then by

tg: of any
d holding
hen com-
pleted,

1872.

Banks and Banking.

Cap. 8.

pletcd, cither by way of mortgage, hypothec, hypothecation, privi-
lege or lien thereon, or purchase, or transfer thereof, as individuals
have in tho Province wherein such ship or vessel is being built, and
for tliat purpose shall be authorized to avail itself of all such rights
and means of obtaining and enforcing sucli security, and shall be
subject to all such obligations, limitations and conditions, as are by
the law of such Province conferred or impjosed upon individuals
making such advances.

S, In all matters relating to bills of exchange and promissory llulidayg and
notes, the following and no other shall be observed as legal holidays, j°ya'|""''"^'^
or non-juridical days, that i^; to say: —

1. In tho Provinces of Ontario, New Brunswick and Nova-Scotia, —
Sundays.

New Year's Da}-.

Good Friday.

Christmas Day.

The l^rthday (or tho day fixed by proclamation for tho celebration
of tbo birthday) of tho reigning Sovereign.

Any day appointed by proclamation for a public holiday, or for a
general fast, or a general thanksgiving throughout tho Dominion ;
and the day next following Kew Year's Day, and Christmas Day,
when these days respectively fall on Sunday.

And in tho Province of Quebec the same days ehaU be observed as
legal holidays, with the addition of, —

Tho Epiphany.

Tho Annunciation.

The Ascension.

Corpus Christi.

St. Peter and St. Paul's Day.

All Saints' Day.

Conception Day.

2. And in anyone of tho said Provinces of tho Dominion any day
appointed by proclamation of tho Lieutenant-Governor of such Pro-
vince for a public holiday or for a fast or thanksgiving Avithin tho
same.

3. And with regard to bills of exchange and promissory notes, As to bills of
whenever tho last day of grace falls on a legal holiday or non-juri- "tc^Min^
dical day in tho Province where any such bill or note is payable, duo on such
thon the day next following not being a legal holiday or non-juridi-
cal day in such Province shall be the last day of grace as to such bill

or noto.-'^

days.

* See .35 Vic, cap. 10 (p. 82), as to maturing of notes payable at a month or months
after date.

I'" i

i!Ml

i i!

1 : j

i I

IS; 'f

r.j-r

ilil

I* :j,.. M

40 Chap. 8, 43. Banks and Banking, Act amended. 35, 3G ViCT.

Inoonsiateut 4. AH provisions of any Acts or laws, or portions of Acts or laws,

repealed"** horetoforo in force in any of the said Provinces or of the Dominion

inconsistent with the ])rovi8ion8 of this section are hereby repealed.

Extent of Act. O. This Act 6>]uill ftpply to the Provinces of Ontario, Quebec,
Nova Scotia and Now Brunswick only.

Preamble.
.' < Viet., c.

Form of
monthly
return
amended.

Ke"ff form.

CHAP. 43.

An Act further to amend the Act relating to Banks and

Banking.

\_Assented to 23rd May, 1873.]

IN amendment of the Act passed in the tliirty-fourth year of Her
Majesty's reign, and intituled " A71 Act relatinrj to Banks and
Banking :'* Her Majesty, by and with the advice and consent of the
Senate and House of Commons of Canada, enacts as follows: —

1. Instead of the form given in the thirteenth section of the said
Act as that in which the monthly returns to bo made to the Govern-
ment by any Bank to which the said Aet applies arc to be made up,
iho following form shall bo substituted for all such returns to bo
made on or after the first day of July, in the present year, one
thousand eight hundred and seventy-three; and all the provisions of
the said section and Act shall apply accordingly : —

EET'JRNof the amount of Liabilities and Assets of the

Bank, on the day of , A.I).

Capital Authorized, $ . Capital Scbscribed, S

Capital Paid Up, $

liabilities.

1. Notes in cii'culation

2. Dominion Government de])Osits, payable on demand .

3. Dominion Government deposits, payable after notice

or on a fixed day

4. Provincial Govcrnmentdcposits, payable on demand.

5. Provincial Government deposits, payable after notice
or on afixcd day

6. Other deposits, payable on demand

7. Other deposits, payable after notice or on a fixed day.

8. Duo to other Banks in Canada

S cts.

.' it

r'- "

36 Vict.

.s or laws,
Dominion
• repealed.

3, Quebec,

nks and

, 1873.]

ir of Her

Banks and
3nt of the
vs: —

f tlio said
ic Govcrn-
mado up,
irns to bo
year, ono
H'isions of

). 1^

S cts

1873.

Banks and Banking, Act amended, Sfc. Chap. 43.

9. Due to Agencies of the Bank or to other Banks or
Agencies in foreign countries.

10. -''Duo to Agencies of the Bank, or to the Bank itself
when its Head Office is in the United Kingdom, or
to other Banks or Agencies in the United Kingdom.

11. Liabilities not included under the foregoing heads ...

ASSETS.

1. Specie ,

2. Dominion notes

3. Notes of and cheques on other Banks

4. Balances due from other Banks in Canada

5. Balances duo from Agencies of the Bank, or from
other Banks or Agencies, in foreign countries

C. Balances duo from Agencies of tho Bank, or from
other Banks or Agencies, in tho United Kinijdom...

7. Government debentures or stock ,

8. Loans to tho Gorernmcnt of the Dominion

0. Loans to Provincial Governments

10. Loans, discounts, or advances, for which shares of
tho capital fUock of any other Bank arc held as
collateral security.

11. Loans, discount?, or advances, for which tho bonds

or debentures of JInnicipal or other corporations, or
Dominion, Prcjvincial, British or Foreign public
securities aro held as collateral securities

12. Loans, discounts, or advances, on current account to

corporations

13. Kotes and bills discounted and current

14. Notes and bills discounted, overdue and not specially
fccured

1 5 Overdue debts, secured by mortgage or other deed on
real estate, or by deposit of or lien on stock, or by
other securities

10. Ecal estate, the i)ropcrty of the Bank (other than
the Baidf premises), and mortgages on real estate
sold liy the Bank ,

17. Bank premises

18. Other assets, not included under the foregoing headsf

* Amended by ."8 Vic, caii, 17 (p. 42), to read as follcnvs : — "10. Due to Agonoies of
the IJaiik, or U> other Dunks cr Agencies in tho United Kingdom."

t The tame Act further amends this form by adding the following item : —

" LIABILITIES OP DIRKCTOES."

" Aggregate nmonnt of tho direct and indirect liabilities to tho Bank of its Directors
and of tho firms or partuerehijis in which they, or any of them, havo any interest."

rrr'

Chaps. 43, 17. Banks and Banking, Amendmenl. 36, 88 ViCT.

Wo declare that the foregoing return is made tip from the hooks
of the Bank, and that it is correct to the best of our knowledge and
belief; and wo further declare that the Bank has never at any time,
during tho period to which tho said return I'clates, held less than
one-third of its cash reserves in Dominion notes.

{Place) thia

day of , 18

A. B., President, d-c.
C. D., CasJUer, dc.

'\\\

CHAP. 17.

An Act to amend the Act therein mentioned, respecting

Banks and Banking.

ri-eamble.

[Assented to 8th April, 1875]

ER Majesty, by and with tho advice and consent of the Senate
and House of Commonns of Canada, enacts as follows: —

34 Vicu, cap. 1, Section forty of the Act, chaptor live, jiassed in the thirty-
a'meaded.' fourth year of Her Majesty's reign, iu hereby amended by tho
addition of tho words following : —

Bank rot to
deal in its
own stock.

"Nor shall tho bank, cither directly or indirectly, purchase or
" deal in any share or shares of the cupital stock of tho bank, except
" where it is ncceasary to realize upon any such share or shares
"held by tho bank as security for any pre-existing and maturri
"debt."

% Viet., c. 43, 2« The item numbered ten in the form prescribed by the first

ImTnded'"'"''" ^^^tion of the Act of the Parliament of Canada, jjassed in the thirty.

sixth year of Her Majesty's reign, and intituled " An Act further tc

amend the Act rclatinn to Banks and Banking,'" under the heading

" Liabilities," is hereby so amended as to read as follows : —

Agencies. " 10. Due to Agencies of the Bank or to other Banks or Agencies

" in the United Kingdom."

Form of return 3. The said form is hereby further amended by adding thereto
amended immediately after the item number Eighteen, under the heading

" Assets " as follows —

" LIABILITIES

^8 Vict.

Ihe 'oooks
Icdgo and
any time,
less than

,18 .
ent, (i-c.

f, dc.

specting

', 1875]

he Seualo

s: —

he thirty-
id bv the

iirchasc oi*

,nk, except

01- shares

:l maturrl

y the first
the thirty.
'.further tc
.0 heading

r Agencies

ng thereto
le heading

LiIABILITIES

1875, 187G. Insolvent Incorporated Banks. Chaps. 17, 31. 48

" LIABILITIES OF DIRECTORS."

"Aggregate amount of the direct and indirect Liabilities of

"^ *" iliroctors

liabilities to the Bank of it.s Directors and of the tirms or partner-
ships in which they or any of them have any interest." S

CHAP. 31,

An Act to make provision for the Winding-up of
Insolvent Incorporated Banks.

lAssented to V2th April, 1876.]

WHEREAS it is expedient to make provision for winding-up the Preamble,
estates of the insolvent incorporated Banks, therefore Her
^Jajesty, by and with the advice and consent of the Senate and
House of Commons of Canada, enacts as follows : —

1. Notwithstanding anything contained in " the Lisolcent Act of insolvent Act
1875," the provisions of the said Act shall apply to incorporated joeScenaiu
Banks, subject to the modifications contained in tho one hundred modifications.
and forty-seventh section of tho said Act, and to the following addi-
tional modifications which a.pi)ly to the case of incorporated Banks

only.

2. No application for a writ of attachment against, and no assign- AVhen only
ment of the estate shall be made until after the Bank has, whether auacLnont
before or since the passing of this Act, become insolvent by suspen- may issue or
sion of payment for ninety days, under tho ])rovisions ot the titty- may bo made,
seventh section of " An Act relating to Banki and Banking," passed 3^ ^''o*- «• 5-
in the thirty-fourth year of Her Majesty's reign, chaptered five.

:$. The judge may adjourn proceedings upon any ap])lication for judgo may
a writ of attachment, for a time not exceeding six months from tho ^jjl^y^n
time at which the Bank suspended payment. proceedings

4. The judge may order that tho preliminary inquiry authorized judge may
by the first sub-section of the said one hundred and forty-seventh °^„'^" i'^qi^y
section shall be made by a peason or persons ether than an official ^^^^J''''^^ ^^
a3si"-nee, to bo by him named on the application of tho parties, and appointed by
theVi'^'o^o^" persons so named shall have all the rights and dis- Jj"^ j^^t'^o''^
charge all the duties ajjpcrtaining to tho official assignee in con-
nexion

I 111

f ' i

IIo may
cxtond timo
for report.

Chap. 31.

Insolvent Incorporated Banks.

39 Vict.

nexion with smli iiujuiiy ; and tlio judge may oxtond tlio lime for
report upon sucli inquiry to a period not exceeding thirty days from
the date of the order for in(|uiry.

Bank not to (i. Nothing herein, or in the said Insolvent Act, contained shall
business when ^^'^ I'^ld tu authorize the carrying on or continuing the biisincse after
ineoivont. ^j^jj Bank has become insolvent as aforesaid.

Incorporated O. An incorporated Bank may be appointed a receiver or cro-
roceir™!^^ ° ditor>»' assignee, and iu case a Bank is so appointed it may act through
one or more of its jn-incipal officers, to be ai)provcd by the judge.

7. The receiver shall, in addition to the jDOwers vested in him
under the said hundred and forty-seventh section, Jiavo the powers
vested by the fifty-seventh, fifty-eighth and fifty-ninth sections of the
said Act respecting Banks and Banking in the "assignee, or as-
signees, or other legal authorities," in the said fifty-seventh section
named.

Additional H. After the issue of the writ of attachment the assignee shall, in

lissr'nee after addition to the powers vested in him under the Insolvent Act, have
iittachmont. ihjq powers to those given to the receiver under the next preceding-
section of this Act.

Additional
powers of
receiver.

AVhat to be
sufiiciont
notice to
note -holders.

Reservation of
dividends on
outstanding
notes.

9. Publication in the Canada Gazette, and in one newspapei*
issued at or nearo=!t the place where the head office is situate, of
notice of any proceeding of which, under the Insolvent Act, cre-
ditors should bo notified, shall bo deemed sufficient notice to holders
of notes of the Bunk intended for circulation.

1ft. It shall bo the duty of the assignee to ascertain as nearly as
may bo the amount of notes of the Bank intended for circulation
and actually outstanding, and to reserve until the oxpirjition of at
least two years after the Bank has become insolvent, or until the last
ilividend, in case that is not made till after the expiration of the
said timo, dividends on such part of the said amount in respect of
Avhich claims may not be filed ; and if claims have not been filed
and dividends applied for in respect of any p.^rt of the said amount
before the period bovein limited, the dividends so reserved shall
form the last or part of the last dividend.

As to action 11. Nothintj shall bo done under the fifteenth subsection of the
ib'oi^s"u7'. himdrcd and fortj'-seventh section of the said ^'Insolvent Act of 1875,"
save upon order of the court or judge.

Extent of 12* The appeal provided fur by the hundred and twenty-eighth

nppcai imdor soction of the said Act shall extend to all orders, judgments or
eection 128. ,..„,., » j &

decisions of the judge.

CHAP.

1871.

Government Snvins^s Banks.

Cap. 6.

CAP. VI.

ere-

An Act to provide Additional Facilities for Depositing
Savings at Interest with the Security of the Gov-
ernment, and for the Issue and Redemption of ,
Dominion Notes.* i

^Assented to lith April, 18tl.]

WHEREAS, it is expedient to increase the facilities now available Preamble,
for depositing nuvings at interest with the security of the
Government for the due repayment thereof, and to make further
provision for the issue and redemption of Dominion Notes : Therefore
Her Majestj^ by and with tho advice and consent of the Senate and
House of Commons of Canada, enacts as follows : —

1. From and after tho passing of this Act, tho Governor may Assistant Re-
appoint at each of tho cities of Halifax and St. John, N.li., a proper ''^f^^^ *^«°*'-
person to be an Assistant to tho Eeceiver General, and such Assist- appointed at
ant Receivers Generrl shall have tho management of the Head Office gt^john'.NlB.,
of the Savings Banks to be established in tho Provinces of Nova and Agenta

° _, . , ,. 1 1 . /-, under them.

Scotia and New Brunswick respectively; and the Governor may ibeirdutiesas
establish Branch Savings Banks in any other places in tho said [^^"^^^^^^^[j,
Provinces, and may appoint proper persons as Agents for tho manage- Nwa Sootia

and New
Brims^ck.

ment of such Branch Savings Banks ; and such Assistant Receivers-
General and Agents respectively, shall, under such regulations as
shall from time to time bo made in that behalf by the Treasury
Board, with the approval of the Governor in Council, receive depo-
sits of money on account of the Receiver-General, and repay tho
same with interest to tho depositors as hereinafter provided ; and
tho word "Agent," when hereinafter used, shall include tho
Assistant Receivers-General, unless the context requires a more
restricted meaning : Provided, always, that such of tho Collectors of proviso : as to
Customs in tho Province of New Brunswick as, at the time of tho Collectors now

„,.. ,,.ii •! -ij? receiving de-

coming into forco of this Act, are authorized to receive deposits ot posits of sav-

money as savings, shall continue to receive tho same, unless or until g^^^niwi^ckr

other Savings Bank Agents are appointed in their stead respectively,

and shall bo subject to all the provisions of this Act as such Agents ;

and any money received by such Collectors before the coming into

force of this Act shall bo dealt with as moneys received by them

under this Act.

CHAP.

* Amended by 35 Vic, cap. 9 ([p. 68).

Cap. 0.

Governmenl SntHn<rs Banks.

34 Vict.

ii
IHf

Deposits, how 2» Every deposit r'^oeivcd by any siu.li a/^^ont us aforesaid, shall
iiiado, entered i,y 1,,^^ \)q entered at the time in a book to bo kept by him for tho

andurovod. i i n i ■ i i i » ■ ■ ^ i

jiui'pose, and hliall at the same time oe entered l»y hiin in a pass-book

Id be fiirni^lied to the depositor; and tiio entry in such pass-book,
attested by the sii^'nature or initials of the aijfcnt who so receives tho
deposit, or of his deputy or clerk, shall bo evidence of tho depositor's
claim to tho repayment ihereof, with interest thereon, upon demand
made by him on such ai^cnt or his successor in ollico, such demand
beini^ made at tho place and during tho hours open for such busi-
ness, subject to the provisions hereinafter mentioned, that is to say, —

Report to
Minister of
Finance.

Monthly or
periodical re-
port, and it.«
etToct, as to
deposit ac-
counts.

Each agent shall report to the Minister of Finance, at such times
and in such form as may be prescribed by the regulations to bo
made under this Act, all dojwsits received by him.

At such times as iwixy l>e prescribed by the regulations to be mado
imder this Act, but not at less intervals than tho beginning of each
calendar month, the officer appointed thereto by tho Minister of
Finance shall Ncnd by mail to each dei)Ositor, to tho address given
by him, a notice stating tho sums deposited by him since tho state-
ment of tho same kind then last sent him (if any) and tho total
amount then at his credit; and tho amount mentioned in such notice,
and no more, shall l>e that for which tho Government shall be liable,
up to tho last deposit therein mentioned, unless the depositor, within
thirty days after tho receipt of such notice, notifies tho Minister of
Finance in such manner as may bo prescribed by iho regulations
then in force, that there is some error, and what error, in tho notice,
in which case the true amount shall bo ascertained, and the dejiositor
notified accordingly.

3* Every depositor, on making his or her first deposit, shall
declare his or her name, residence, quality and occupation ; but the
persons engaged in the receipt or payment of deposits shall not dis-
close tho name of an}- depositor, or the amount deposited or with-
drawn, except to the Minister of Finance, tho Eeceiver General, or
such of their officers respectively as may be appointed to assist in
carrying into operation the provisions of this Act.

Deposits to be 4. Every agent appointed as aforesaid to receive deposits shall,
paid into „^ puch times as may bo prescribed by the regulations then in force,

Bank, to cred- n^■n•r^■l i-n.

it of Receiver pay in to tho account of tho Receiver General, at such Bank as ho

w^'thdrawais '^^J ^'^ directed, all tho moneys received by him on deposit, and he

how paid, ic. ghall pay all withdrawals in such manner as by the said regulations

may bo proscribed ; and ho shall also, at such times as may bo so

prescribed, transmit to tho Minister of Finance, in such form as he

shall bo directed, a detailed account of tho business of his office

during

Depositor to
give his ad-
dress, <&c.

1871.

Government S<ivin<i;s Banks.

Cap. G.

(luring tho timo that lias olapscil siiico the transmission of his
iraniodiatcly preceding account.

Tim The interest payable to i. ^artics making such deposits shall Interest on
1)0 at Ruch rate not loss than of loiir per centum per annum as tho "''**'" *'
(lovcrnorin Council mayfroin timeto timoappoint; but such interest
shall not be calculated on any amount less than one dollar or other
than a dollar or tho multiplo of a dollar.

0< On tho thirtieth day of June in every year the interest accrued interest addeJ
on deposits shall bo added to and bocomo part of llio jjrincijial prrnofpa".
money.

7« It shall be lawful for tho agents appointe<l to receive deposits Bopcsits may
as aforesaid, to receive deposits from any person or jiersons whom- from persons
soever, whatever bo his, lier or their ago, status or condition in life, under ago, &o.
and whether such per-son or persons bo qualitied in law to enter into
ordinary contracts or not; and from timo to timo to pay any or all
of the principal thereof, and the whole or any part of tho interest
thereon, to such person or persons respectively, without the autho-
rity, aid, assistance, or intervention of any person or persons, official
or officials, being required, any law, usage or custom to the contrary
notwithstanding: Provided always, that if tho pec <n making any Proviso;

• leposit, as aforesaid, could not un.lor tho law of the i'rovinco where '^'"?""' iimit-
i ' ' ed in such

the daposit is made, deposit and withdraw money in and from a case.
Dank, then and in that case the total amount of dejiosits to be
received from such person shall not exceed the sum of tivo hundred
dollars.

H» No officer of tho Government shall be bound to see to tho oxe- officers of

'•ulion of any trust, whether exi)ressed, implied, or constructive, to Oovommont
, . , , ./ 1 1.1 , . \, , . . ' - not bound to

winch any deposit made under the authority of this Act may bo see to trusts,
subject ; and tho receipt of the person in whose name any such
deposit stands, or, if it stand in the name of more persons than one,
the receipt of one of tho persons shall bo a sufficient discharge to all
concei'iied for tho payment of any money payable in respect of such
deposit, notwithstanding any trust to which such deposit may then
be subject, and whether or not the agent sought to be charged with
such trust (and with whom the deposit may have I)cen made), or his
Miccessor, had notice thereof ; and no agent or any other officer of
tho Government shall be bound to see to tho application of tho
money paid upon such receipt, any law or usago to the contraiy
notwithstanding.

SK Any payment made in good faith to any person or persons Paymoats
appearing prima /ac/t', by the production of a declaration in writing mndo /»miy7i/c
and documents in support thereof, mado under tho provisions of this documents to

Act,

be valid.

m|:

Cap. 0.

Government Snvingx Banks.

84 Vict.

Oovornor in
Council may
III a k I)

U();5iiliilionH
for oarryinjj
uut tliis Act.

Their effect.

Regulutiuns
to bo

published
and copies
laid before
Parliament.

A(»ent8 and
cSicors to take
an oath of
office.

The oath.

Act, to 1)0 cnlitlotl to any intoroMt or deposit, Hhall l>o valid and slifill
di.schai't^o tlio ivi^ont with whom the deposit may have boon niado,
and his successors and till who nii^^ht otherwise have boon liable,
from ull or any further claim by any persf)ii whomsoovor for such
interest or deposit.

10. The Governor in Council shall have jiower to make, and
from time to time to add to, alter or revoke such roi^ulationn as to
him may soom moot, for i)rescribin<^ tho mode of keepinjjf and
oxaminini^, inspectim^ and checkinij, and roportin<( tho accounts of
depositors, ami of willidrawiiigdeposits luid interest, and tho issuing
of deposit certilicatos; and tilso res])ectin,!^ the ]>aymont or transmis-
sion thereof in case of infancy, or of death, bankruptcy, marriage,
or other change in tho circumstances of any depositor, and for pro-
scribing how and in what manner any such payment or transmission
shall be made, and what declaration, documents or other cvidenco
shall bo necessary and ^sufficient in proof of tho same, and alsO'
respecting tho duties and powers of inspectors a))pointed under tho
fourteenth section of this Act, and all other matters which tho
Governor in Council may deem incidental to iho carrying of tho
provisions of this Act into otTect : And all regulations so mtide shall
be binding on tho parties interested in tho subject matter thereof,
to tho same extent, and as fully to all intent?^ and purposes, as if
such regulations formed part of this Act ; ami such regulations, ar.<l
all amendments thereof, shall bo publi.'shod in such way as tlic Gov-
ernor in Council may direct, and copies thereof shall be laid before
Parliament within fourteen days of its meeting next after the dalo
of such regulations ; and any copy [lublished as aforesaid shall bo
evidence thereof.

11. Every agent, officer, clerk or servant cmploycil under thi.s
Act, who may bo entrusted with and have tho custody of any
moneys or valuable securities, shall, before entering upon his duties,
give such security for tho faithful discharge of the same, and for the
duo accounting for all such moneys, as shall be ref[uired of him by
the Tremunj Board ; and shall also take an oath or affirmation before
a justice of tho peace, faithfully to perform his said dalles ; which
oath or affirmation any justice of tho peace is hereby authorized to
administer, and which shall bo in the following form, or in word.s
to the same elTcct : —

" I (A. B.), of , l)eing duly sworn, swear {or do

" solemly affirm) that so long as 1 shall be employed in assisting to
" carry out tho provisions of tho Act Victoria, Cap.

« , I will perform faithfidly and to the best of my

" ability the duties that may be assigned to me.

" And

1871.

Covprnir.vrJ Sni'ina^s Ijan/,s.

Cap 0.

nd shall
1 iiiiido,
1 liiiblo,
V)r Hucli

" Ami I Iiiuo .si.n'iici-I, •

" Swovn ill, , tliiij

"18 , Ix-lore mo, A. R,

''Justice of the Peace fi>r ilte (

(lav of

)-/

And

12. It' any ngoiit apjioinlod to rcceivo dcposils as afbrosaid, or
aoy officer, clork, or servant employed inidcr liio provibion.s of this
Act, defaces, alters, erases, or in any laannor or wa\' whatsoever
ihangos the cfl'oct of Iho hooUs of account that may ho kept under
the provisions of tiiis Act, or any entry in tlio saitl hooks of account
for any fraudulent purpose; or if any such assent, officer, cloiJf, or
servant secretes, appropriates, or cml)ezzles any hond, obligation,
hill or note, or any security for money, or any moneys or cH'ects,
entrusted to him, or in his custody, or to which ho has obtained'
access as such agent, ofticcr, clerk, or t^ervant, to whomsoever the
said property may belong, the ijoi-son so otlending isguilty of felony,
and on conviction theref)f shall bo lial)lo to bo punished by imprison-
ment for any term not less than two joars in the Provincial Peniten-
tiary, or by imprisonment in any other gaol or place of contlnemcnt
for anytime less than two years, in the discretion of the Court before
whom ho may bo convicted ; Provided always, that nothing herein
contained, nor the conviction ov i)unishment of the olfender, shall
prevent, lessen, or impair any remedy which Her Mnjesty or the
Ueceivor General or any other person or party may have against
such ofiender or his sureties, or against any other person or part}-
whatsoever,

13* Any pei-son who fal-cly pretends to bo the owner of any
deposit made under this Act, or of tho interest upon such deposit,
or of any part or portion of such deposit or interest, and, not being
such owner, with intent to defraud, demands or claims from tho
agent with whom such deposit has been made, or from any other
party employed under this Act, tho payment of such deposit or
interest, or of any jiortion thereof, as the case may be, and whether
he does or does not thereby obtain any part of such deposit or inter-
est, is guilty of a misdemeanor, and shall on conviction bo punishable
accordingly; Provided, that any offender against tbo provisions of
this or the next preceding section may bo indicted and punished
cither under this Actor the Act respecting larceny and other similar
oflTencos, if his offence bo one i^unishablc under that Act, but he shall
not bo more than once punished for f'O same offence.

14. Tho Governor may appoint, and from time to time remove,
an inspector or inspectors, tc investigate and report upon tho busi-
ness which may arise in carrying out tho j^rovisions of this Act, to
4 whom

Pnni.«liment
of 11 go n til,
A<'., altering
cntrie?,
umbc/zlins;
money, Ae.

Proviso !
other

remedies not
atTected.

Punishment
of persona
pretending
falsely to bo
owners of
deposits.

Proviso.

Inspectors
of Savings
Banks niuy
be appointed.

fiO

1871.

(lovernmcnl Savings Barks.

Cnp. U.

SilVUlgH

ItiiiiUs ill
Niiva Scotia
mid Now
IJiuiiBwiek to
1)0 subject to
tbii Act.

Tholr diitici. vliom (lie !it!:(Mits iii)|»oiiiU!(l lo r('C(>ivo doposits mid all otlicrs wlio
in:iy In' cinitlnyoil iiinlcf (liis Act hliall Ixi liuiiiid lo atlnril all iifciHul
racilities Cor hticli inspection and iiivosligalion ; and llio duties and
powers ofBUcli inspectors shall bo such ns shall he assigned (o thein
l)y the rei,'tdutions to lie made under the tenth seetion of this Act.

\!i» V\on\ and after tho ))assin<:r of [Ids Act, the Savin,i,'s Hanks
cstahlished in the Province of Now lirunswitdc under an Act jiassed
hy tho I-e,L,'islature of that Province in the tenth year of Her Majesty's
I'cign, and intituled " ytn Act relatlmj to Banian for Savings," or under
an Act passed by tho said Lcgislaturo in tlio twenty-fourth year of
ITcr Majesty's reign, and intituled " yf/i Act relai''i\j to Savings
JSanliS," and tho Savings Bank in tho Province of Nova Scotia ostalv
lishod under tho Act chapter thirty-nine of tho Revised Statutes of
that Province, intituled " Of the Treasury IJotcs, the Savings Bank
and Provincial Loan," shall bo subject to tho provisions of this Act,
in tho same manner as if they had boon first cstablisiicd as Savings
Banks under and l>y virtue of this Act.

^ , .to. The St. John's Savings Bank (New Brunswick), established

St. .lohn i* .

.><uvings Back u.ider Acts of tho Legislature of that Province, shall be and shall be

^^''" . , held to Imvo boon since tho Ist of July, 18G7, a Government Savings
Bank, under tlio control of tho Governor in Council, and tho pro-
perty, assets and liabilities thereof to have been then transfeired to
and assumed by tho Dominion, subject always to a proper allowaiice
for any surplus or doficioncy of such pi'operty and assots, as com-
pared with such liabilities, in tho settlement of tlu3 accounts between
tho Dominion and the said Province.*

A-i to acnofits 1'^* '-^I'o cajiital represented by deposits in tho Savings Banks in

in X. B., Nova Scotia and New Brunswick, in deposit accounts as to which

untniuhca thcro havo been no deposits or withdrawals since 1st July, 18G7,

ii.1/7' ^'^'■^"'^'' shall not bo charged against those Provinces respectively as part of

tho debt with which thoy entered tho Union, but all such accounts

shall bo transferred to a Suspense Ledger, and if hereafter any

deposit or withdrawal be made in any such account, it shall be

removed from the Suspense Ledger, and tho capital represented by

such account and tho interest accrued since 1st July, 18G7, shall bo

charged against Nova Scotia or Now Brunswick, as tho case may bo.

IS. Tho Governor may, if ho shr.il deem it expedient, ap]>oint an
Assistant Receiver General at tho city of Toronto and at tho city of
Montreal, or at cither of them, or at any place in the Province of
Manitoba, or in any other province which may hereafter form part

Assi-tant
Receiver
(Jencral may
bo appointed
and tjatinga

♦Amended by 35 Vict., cap. 0, sec. 1 (see p. 68).

('tip. 0.

I (iIIkm's \v1ii>
id all nccdl'iil
(t (liitios and

f]\l'il to tlu'iu

ol' this Act.

ivincjs Banks
.11 Act )iassc(l
Ilcr Majesty's
ir/s," or under
mi'lli year of
J to Sacings
Scotia ostab-
sd Stntutos of
Snv'njs Bank
.H of this Act,
cd as Savings

:), established
and shall bo
nient Savings
and the pro-
transfeircd to
ijicr allowaiicc
isyttta, as com-
ouuts between

iugs Banks in
Is as to which
St July, 18G7,
/cly as part of
such accounts
hereafter anj'
lit, it shall bo
•epresented by

18G7, shall bo
case may bo.

cnt, appoint an
.1 at the city of
lie Province of
ifter form part
of

1871.

Govenimrnt tSavini^s Hanks.

Cap. 0.

oi' tho Dominion of Canada, and may ostalilish a SaviicM Bank at ottnhli.Miod
oithor of the said citic-*, or in any ol' tliu said nnn'iiictM, in like 'i> <•"'''*">
manner as ho may, under the ])rovisions ot tho first section ot this
Act, at tho city of Halifax or of St. John, N.B. ; and any such Assist-
ant llocoiver Gonoral, and any such Savings Bank, if so established,
shall bo subject to the provisions of this Act, which shall extend and
apply to thom, as fully as to any Assistant llocoivor General or
Savings Bank mentioned horein.

11>.. Every Assistant Eecoivor General appoinleu under this Act Assistant
shall be ail agent for tho issue and redemption of Dominion notes, H'coi'o"
and his office shall bo a branch office of tho liocoivor General's Agents for
Department, for that purpose, under tho seventh section of tho Act do,npUon of"
passed in tho thirty-third year of Iler Majesty's reign, and intituled Dominion
" An Act to amend tho Act 31 Victoria, Chapter 46, and to Regulate ** *'*
tho Issno of Dominion Notes," and every such Assistant Rocoivor
General shall havo tho keeping of tho Dominion stock books at tho
place for which he is appointed.

Governor In
Council may
authorize a
five per cent.
Dominion
Stock.

Proviso.

30« The Governor in Council may authorize tho issue and sale
of Dominion stock, bearing interest at ihe rate of five per centum
per annum, on tho credit of tho Consolidated Revenue Fund of
Canada, and m.ay dii'oct stock books, for tho issuo and transfer of
such stock, to bo opened and kei)t at such ])laces as ho may think
])ropor; subject always to the provisions made in tho next following
section for preventing any jiermancnt increase of the public debt
by tho issue of such stock, and to those of section five of tho Act 31
Victoria, chapter four.

21. Sections seventy'- three and seventy-five of the Post Office Act ,
18G7, are hereby repealed ; .'.nd if at tho end of any month, by rea-
son of the amount of doosits in the Savings Banks established under
this Act, and in the Post Office Savings Bank, and tho issuo and sale
of the five per cent. Dominion stock liercby authorized, or by any of
tho said causes, tho amount of tho public debt authorized by Parli.".-
mcnt bo exceeded, it shall be tho duty of the Auditor General to
report such excess to the Treasury Board, who shall thereupon
direct tho Receiver General to pui'chaso, to tho extent of such
excess, debentures of the late Dominion of Canada already issued,
or debentures of the Province of Canada, or of cither of tho Pro-
vinces of Nova Scotia or New Brunswick, issued before tho first day
of July, 1807, and such debentures shall then bo cancelled, or maj'
1)0 held in reserve until there is authority to rc-issuo them.

22. All moneys and interest paid to depositors, and all expenses Payments of
incurred in maintaining the Savinccs Banks to bo established under l^r^'V',^' *°"*

*— ' *— out CI v-oH"

thia

Sections 73, 75
of Post OfTico
Act ropoaloj
and new pro-
vision inado
in liou thereof.

Cap. G, 7.

Clovcrnment Sdi-inga Banks, S)-c.

34 YiCT.

f^olidatcd
Fund.

Accounts to
Parliiimcnt.

Monthly
stateinonts by
Auditor
Ueneral.

All parties
receiving
Savings lu
deposit

bound to make
Kcturns, i&c.

lhi.s Act, or iiiulor The Post Office Aft, IStJT, t^liall bo ptiid out of tlio
Consoliiltiloil Ec'vcnuo FuikI, :iii(l the inonoys recoived iiiidoi" this
Act shall form ])art of tin' said fund ; :iiid an account of the whole
expenses incurred, of the .uuount of deposits received and jiaid. and
of the total amount due :.t tlie close of the linancial year, to all
depositors, under the au'.horily of this Act, or of llic Post Office
Act, ISGT, shall bo laid before bntli Houses of J.'arliament within ten
days after the comniencement of the next lollowing session thereof.

3<S. As soon as possible after tiio end of each month, the Auditor
General .shall prepare and insert in the Canada Gazette a btatement
of all money's under this Act received in deposit or withdrawn
during the preccdini; month, and of the total amount on deposit at
the end of the month, and the rale ot interest payable on the same.

24. Every person, corporation or institution, excejit Chartered
Banks, receiving money in small sums, on deposit at interest as
savings, shall be bound to make sucli returns as to such deposits,
and the investment thereof, as the Governor in Council ma}- from
time to time require, and to i-egister with the Minister of Finance,
and notify in such manner as the Governor in Council may direct,
the name of the institution, and that of the oflSceror person on whom
px'occss may be served in any suit or proceeding, and any wilful
refusal or neglect to obey any such. Order iu Council sLall be a
misdemeanor.

Preamble.

CAP. VII.

An Act respecting certain Savings Banks in the
Provinces of Ontario and Quebec*

[Assented to Uth Aprii, 1871.]

"IITIIEREAS it is expedient to repeal the Act lirst hereinafter
IT mentioned, under which no Savings Bank has been estab-
lished, and to amend the laws respecting certain Savings Banks in
the Provinces of Ontario and Quebec, acting under temporary Acts,
or Acts pi'oviding that such Banks shall be subject to the operation
of any general law for the hetter regulation and management of
Savings Banks in the said Provinces, and more especially to jirovido

that

'J I !}

♦Amended by 05 Vict., cap. 9 (see p. 88), and further amended by 30 Vict., ca«. 72.
(See p. GU) .

'*f!.

-"■W

Vict.

t of the
lev this
c whole
Liid, tind
1-, to all
,st Office
Ihiuteu
thereof.

Auditor
utement
thdrawu
eposit at
he tjamc.

Ihartcred
itcrest as
deposits,
nay from
Finance,
ay direct,
on whom
my wilful
hall be a

1871.

Savinp^s BniiL's, Onfnrio and Quebec

Cap. 7.

the

1871.]

orcinafter
ZQW estab-
Hunks in
rary Acts,
operation
;on\ent of
to provide
that

Vict., cau. 72.

that the (.epo.i.ors in any sucii .'-^aviny;.-; Rank t^h.U I'o secure 1 by a
certain amount of capital to be held by such Bank ; Thercforo, Ilcr
Majesty, by and with the advice and consent of tlic Senate and
House of Commons of Canada, enacts as follows: —

1. The Act forming the fift3--sixth chapter of the Consolidated
Statutes of Canada, intituled "An rospectini,' Savings Banks," is
hereby repealed.

2. The Act of the Legislature of the late Province of Canada,
passed in the session held in the fourth and fifth yoar.s of Her
Majesty's reign, and intituled "An Act to encourage the establish-
ment of, and to regulate Savings Banks in this Province;" and the
Act of the said Legislature passed in the twenty-seventh j'oar of
Iler Majestj-'s reign, intituled '• An Act to amend the Act of 1841,
relating to Savings Banks," shall, as regards the (i>ueljec Provident
and Savings Bank, tiho Northumberland and Durham Savings Bank,
and the Toronto Savings Bank, and in so far as the .said Acts now
{>pply to the .said institutions or any of them, remain in force and
.apply to the same institutions respectively, until the end of the ses-
sion of Parliament commencing ne.Kt after the first day of January,
1872, and no longer, subject alway>» to the special jjrovisions herein-
after made; and this Act shall also extend and ai^ply totho City and
District Savings Bank of Montreal, incorporated by the Act of the
Lcgif.lature of the late Province of Canada, passed in the twenty-fifth
year of Her Majesty's roign, and intituled " An Act to extend and
Klefinc the powers of the City and Disti-ict Savings Bank of Mont-
real," — and to la Caissc dEconomiede Notre Davicde Qxubcc, incorpo-
rated by the Act of the said Legislature, passed in the session held
in the twenty-ninth and thirtieth years of Her Majesty's reign, and
intituhd " An Act to extend and define the powers of the Savings
Bank knov,m under tlio name of la Caisse d'Economie de Notre Dame
de Quebec,'' — as to each of wdwch institutions it is provided by the
said Act incorporating it, that it shall not be exempt from the
oporaVion of any general law thereafter to bo enacted for the better
regulation and management of Savings Banks, — and the said insti-
tutions respectively- shall be entitled to avail themselv»),s of all the
provisions of this Act; Provided always, that if the assets and
liabilities of any one of the rsaid Savings ]>anks bo under this Act
transferred to Uer Majesty, or to any existing Chartered Bank, or
to any Savings Bank chartered under this Act, the rights and lia-
bilities .so transferred shall remain in lorcc, and may be enforced bv
or against the \nxviy to v.^hom they are ,so transferred ; but all the
provisions of the said Acts or of any of them, as to the oi-ganization
of BU li .Savings Banks, or in any wise incouf-istent with this Act,

.-hall

Con. .Stiit.
Oiin., e. 5(5
rojioiilod.

Acts 4 and 5
Vict., c. o2,
and

n Vic, c. 6.

Continued for
a limited time.

Act to apply
to certain
other Savings
Bankf.
25 v., c. 66.

29, .30 v.,

c. 130.

Proviso : in
case the a.sset3
niid liiibiiitie.'!
of any .Savings
IJnnk nre
trnnsforrod
under tliis
Act.

Cap. 7.

Savings Banks, Ontar-o and Quebec. 34 YlCT.

m i !

I^i; il .

.it! l"J
'," '1
- ■ <i.

Provis.ion for
such transfer.

To Govern-
ment.

To any exist-
ing Bank.

(shall ccaso to be in force from the lime sui'h tj-an^fer i.^i »-oinploteJ ;
and provided also, that an}- oflcnder .'lu'ain.s'i cho naid Acts may be
prosecuted, tried, convicted and puni.,..cd, as if tlio said Acts had
not expired.

S. At any time before tlio expiration of tlio Acts aforesaid, pro-
vision may bo made for the transfer ur continuance of tlie business
of any of the said Savings Banks, in any one of the following ways,
at the option of the Trustees or Mannging Directoi'sof the Bank, or
a majoril}' of them, that is to sa^- : —

1. The assels and liabilities of the L..-.jC may k.o Iransferred tn
the Dominion Government ; or

2. They may be transferred to any Chartered Bank, having its
chief seat of Imsiness or a branch otlicc at the place whore the
Savings Banlv is established, and chartered before the present session
of Parliament ; or

By cbartcr. 3. The Governor General mav irrnnt a .ter to the Savin^-s

Bank in the manner and on the conditions hcicinafter mentioned.

4. 1. If the Trustees or Managivig Directors of the Bank, or a
majority thereof, resolve that it is expedient to transfer the assets
and liabilities thereof to the Dominion Government, they shall com-
municate such resolution to the Governor, and shall furnish him
with such returns and information with respect to the business and
aftairs of the Bank as he may think pi'oper to require, and shall
permit any person whom ho may appoint for the purpose, to have
free access to the books, papers, and other documents necessary for
the purjiose of verifj'ing or extending such information, and if the
Governor bo satisfied that it is expedient to give effect to the said
resolution, an Order in Council may bo made for that purpose ;

2. Upon, from, and after a day to bo fixed by tlio Order in Coun-
aml Uabifities cil, all tho asscts and property, estates and effects, real or j)crsonal,
in ir. M. for clioscs in action, claims, rights and credits of the Bank, and all tho

the Dominion. n ^ -,^ -, ,<^ ^ t-n i -»r ■ -r^- , -1

powers of the Lank, or of the irustees or Managing Directors with
respect to tho same, shall be by virtue of such Order in Council
transferred to and vested in Her Majesty for tho Dominion of
Canada and tho purposes of this Act; end tho Dominion shall be
charged Avith all the debts and liabilities of tho Bank; and any suit,
action or proceeding by or against the Bank, pending at the time of
such transfer, with respect to any right or liability so transferred to
Her Majesty or charged upon the Dominion, may bo continue;! and
completed in ]Icr J^J'ijesty's name upon suggestion of this Act and
the said Order in Council.

If tho transfer
bo to the Gov-
ernment.

Information
to Governor.

Transfer to

«(..

34 YiOT.

1871.

Savinv;^ Banks, Outorin (tud Quebec.

Cap.

mploted ;
:s may l)e
Acts had

said, pro-

} bussiuo^.^

ing ways,

Bank, or

iferred to

avii\n' its
•hero the
lit ses.'^iou

) Savings
iitioncd.

ank, or a
the assets
shall coni-
nish him
iiness and
and shall
3, to have
3ssary for
nd if the
> the said
)Ose ;

■ in Coun-
licrsonal,
nd all the
itors with
1 Council
ninion of
1 shall l)e
any suit,
iO time of
sferrod to
inuc I and
s Act and

.'). The business of the Banlc may bo continued at the si; no ])lace, nu.sincss m.iy
as a Branch Savings Bank, under the provisions of tlio Act of th.c J.'nj'j,"'^""^'''
])rescnt Session, intituled -'An Act to provide adililional facilities
for the Deposit of Savings at Interest wi'ili the Security of the Gov-
ernment, and for the Issue and Bouemption of Dominion Notes,'
and under the management of ai^. Assistant to the Beceivcr Genera!.

4. If it can be ascertained by estimate, to the salisfietion of the Distribution
Governor in Council, by what amount tiie as.-cis ol liie Bnn!; excee I "f'"'''!^'"'^

' •' .Tssets over

its liabilities, he may direct alike amount to be invcsle I ly the liabilities.

Receiver General in five per con! J).>'iiiiHon Sloik, and out of the

interest thereof, if sufficient, a like sum shall b-e ])aid over to each

of the several charitable insJtution^. among which the surplus

jn-ofits of the Bank were distribuled in the then last year, as each

of them then received, or if the intcre.t be insuflicient to pay tiie

like sum, then a proportionate part thei-eof shall be paid to each

such institution, — and if there be a surplus after paying such like

sum, then such surplus shall be paid over yearly to the Corporation

of the Municipality in which the business of the Bunk wtis carried

on, to be distributed liy such Corpf)ration for ciiaritable ]iurposes;

or if such estimate cannot be so satisfactorily made, or it \.\ i Gov- if tho surplus

ernor in Council should deem it more expedient, he may direct tha: !!™"r"a-'n'cd

accounts bo kept during live ^-ears of the proceeds of sucli as-ets, a*-.

and that the excess of the proceeds ovei- the liabilities usMimed by

the Government, as calculated from such accounts, be invested as

aforesaid, and the interest distributed yearly for charitable purposes,

in the manner and proportions afore.<:aid.

7i» 1. If the Trustees or Managing Directors of the Bank, or a if tlie transfer

majority of them, resolve that it is expedient that the assets and '^^ '^ a,
,.,.,..,,, cliiirtorea

liabilities thereof be transferred to a Chartered Bank, they may Ban!:.

enter into an agreement with the I)I;'eitors of such Chartered Bank
for that purjiose, as to the terms and conditions of such Iransfei',
subject to the contirmation of such agreement hy the Stoclcholders
of the Chartered Bank, to a general meeting of whom the Directors
shall submit such agreement accordingly, and if it is approved b}-
the Stockholders at such meeting it shall be submitted to the Gov-
ernor in Council for approval, and if approved, an Order in Council
may bo made confirming it, and it shall then have force and eii'cci.
as if embodied in and c^mfirmed by this Act :

2i And at the time fixed for that purpose b}- such agreement, all Transfer of
the assets and property, estates and ctfccts, real and personal, rhoscs i'/'l-''."''

..,..,, ^ " li ibilities.

in action, claims, rights and credits of the Savings Bank party to

such agreement, tvnd all the powers of .mch Bunk or of t> > Trustees

Cap. 7.

Suvitigs Banks, Ontario and Quebrc.

54 Vict.

Distiibntion
of surplus of
assets over
liabilities.

If tho Saviogs
l!anks is
continued
under a
charter.
Capital.
Petition to the
Oovernor.

Stock book to
bo opened :
ten per cent,
to liu paid
down.

or Managing Directors thereof with respect t") the snroo, shall bo by
virtr. J 01 such agreement iransforred to and vested in tho Corpora-
tion of the Chartered Bank party to sucli agi-eement, which shall be
charged with all tho debts an<l liabilitio- of tho Savings Bank, and
any suit or i)rocecding by or against the Savings Bunk ])ending at
tho time of such transfer with respect to any right or liability no
transferred, may bo continued and com])loted in the namo of tho
Charte jd Bank upon suggestion of this Act and of the said
agrcomcnt :

3. The value of tho assets and proj-yorty so transferred by a
Savings Banks to a Chartered Bank, and the amount of its liabili-
ties assumed by tho Chartered Bank shall be ascertained and stated
in tho agreement (and tho Governor may require such estimate to
be verified in any way ho may think proper), and tho interest on
any excess of the estimated value of such assets and property over
that of such liabilities, shall bo distributed yearly by tho Chartered
Bank among the several charitable institutions among which tho
surplus profits of the Savings Bank were distributed during tho the'"
last year, and in tho like proportion.*

6. flf tho Trustees or Managing Directors of the Savings Bank,
or a majority of them, resolve that it is expedient that the business
of tho Bank bo continued under a Charter, they shall determine the
amount of stock which they consider it expedient that the Bank
should j\ave, which shall not be less than $200,000 nor more than
$2,000,000, and the shares into which it shall be divided, which
shall not be less than $400 each, and shall then communicate their
said resolution to the Governor by petition, praying that a Charter
be granted incorporating them and such others as may bo thereafter
associated with them, to carry on the business of the Bank under
this Act, and stating tho amount of tho stock and the shares into
which it is divided, and any special provisions which they may
desire with respect to those purposes for which it is hereby pro-
vided that provision may bo nuide without prescribing what such
provision shall be; and the Governor being satisfied that these
requirements have been complied with, and that it is expedient that
the Charter bo granted, may grant tho same: The Trustees or
Managers so incorporated shall be Provisional Directors, to open a

Stock

*By 3C Vict., cap. 72, sec. 3 (p. (59), it is enacted that tho Toor Fandof tho City and
Diiftrict Savings Bank of JNIontrcnl, which is deelarod to bo ascertained and settled at
.$1SII,000, shall bo invested and hold in debentures of the city of Montreal, with |ii)wcr to
change iho investment of the same or of any part thereof, from time to time, with tho
approval and ))ernii8sion of tho Treasury Board, but not otherwise.

f Amended by 32 Vict., cap,

soc. 1 .

^Scc p.

.U).

i Vict.

1871.

Savings Banks. Ontario and Qneb"'

Cap. 7.

ill boby
Uorpora-
Bhall bo
ink, and
nding at
.bility 'M)
of Iho
the said

cd by a
:s liabili-
nd stated
tiraato to
tercst on
crty ovci"
chartered
•liicli the
f the the' •

ijjs Bank.
) business
rmine the
the Bank
nore than
ed, which
cato their
a Charter
thereafter
nk under
lares into
Lhey may
iveby ]")ro-
vhat such
hat these
dicntthat
•ustees or
to open a
8 took

the City and
nd ."ettled at
vith iiowor to
mo, with tUo

Stock Book and to call the first general nioeliii;,^i)r (lie Stockholders,
and to do all such things as may bo roiiuircd preliminary to mucIi
meeting: And they shall ojien such Slock Rixik accordingly, and
receive the signatures of such of their nimibcr and other jicrsons as
shall be willing to become Stockholders in tlio Bank, and whom the
said Provisional Directors may think ])r<)per to acce])t as such ; but
110 such subscription shall be accepted oi- liolJ to bo made unless the
subscriber, at the time of subscribing, pa\s to the I'rovisional
Directors for the Bank ten per centiun on the amount subscribed
for. or such other jiercontage as will amount in the whole to a sum
not less than $100,000, which shall be forthwith invested by the
Provisional Directors in I)ominion Stock, or other Dominion secu-
rities, or public securities of any of the Provinces of the Dominion,
in trust for the Bank; and such payment and investment shall bo
certified to tho Governor to his satisfaction ; and Avhen the whole
•Stock shall have been subscribed for, and such 2)ercentage as afore-
said paid thereon, the Stock Book shall be closed ; and if the whole
stock be not subscribed for within one month after the granting of
the Charter, tho Stock Book shall be closed, and tho amount then
subscribed for and in ])art paid as aforesaiil, not being less than
$200,000, shall be the Capital of the Bank, and when tho Stock Book
io so closed the Provisional Directors shall call the first general
meeting of tho Stockjiolders for the election of Directors and other
purposes, in the manner provided in the Charter.

The Charter shall lie granted for ton j-ears; and shall make such
provision on the following subjects as the petitioner.i may desire,
and the Governor may deem expedient, that is to say : —

1. The name of the Bank and the place at which its business is
to bo carried on ;

2. The calling and holding of the first general meeting of tho
Stockholders for the election of Directors; the number of Directors,
which shall not be loss than five nor more than ten, and their
general powers; the election of a President (and Vice-President if
desired), tho fiWing of vacancies in tho office of Director occurring
l)etween the annual elections, the quorum of Directors and tho mode
of voting at their meetings, and who shall preside thereat, with or
without a casting vote in case of equality of division; and tho
payment or non-payment of tho President, Vice-President or other
Directoi's ;

o. Tho maki-g, altering or reporting by tho Stockholders, at their
general mcolings, of by-laws, rules and regulations not t)eing incon-
fcistcnt with this Act or tho Charter, for the management of tho

affairs

If tho wliolo
stock bo nut
subsoribod —
ainiiiint
ciibscribed to
bo tlio capital
but not less
than $200,000.

Duration and
provisions of
charter.

Name.

First General
meeting for
election of
Directors.

By-laws.

Cap. 7. Savings Banks, Ontario aw? Quebec. 34 ViCT,

(Icnoral
iiiuctiiigs.

Olliccrs.

Dividends.

Inspection of
bool<s, itc.

Loans to
Directors.

Returns to
(lovcrnment.

Real estate.

Other
matters.

Effect of
Charter.

Qualification
of Directors.

Vote;^

aflairs of llio Bank, ineliidinij^ the modo of transfciTin<^ and dispos-
ing of ilio Htoolc and prolits thereof, and any matter not ])rovidod
for by this Act or by the Charter;

4. Tlio i^enoral yearly meetings and special general meetings of
the Stocidioldors, the jiowers tliercof, and the proceedings thereat ;

5. The appointment of ofiiccrs, and the security to be given l)y
them ;

G. Tlio making of dividends to the Stockliolders on the profit of
the Jknk ; but no dividend shall be made to impair the paid-up
Capital of the Bank.

7. The inspection of the books, papers, and correspondence, as
respects the right of tho Directors and Stockholders respectively to
make such inspection ; ,

S. Tho limiting of loans to or on the sccui'ity of any Director of
tho Bank;

9. Tho returns to bo made by tho Bank to tho Government or to
Parliament, including certified lists of tho /Stockholders, tho periods
at which they shall bo made, and what they shall shew, tho vorifl-
cation of such returns, and tho right of tho Governor to req^uiro
further information if ho deems it expedient; ;.«

10. Tho holding of real estate by tho Bank for its own occupation
and use, and tho valuo of tho real estate to bo so held ;

11. Such other matters and subjects not specially provided for in
this Act, as may ho deemed, necessary for tho management of tho
affairs and business of tho Bank and of tho nature of those usual in
Bank Charters ;

12. And all provisions mado in such Charter on any of tho sub-
jects and matters aforesaid, not being inconsistent with this Act or
Avith tho law of Canada, shall have forco and effect as if herein
enacted ; and tho following provisions of this Act shall apply to
such Bank without being inserted in its Charter.

T. Tho qualification of a Director shall bo tho holding of twenty-
five shares of stock, and tho Directors shall be elected annually at a
general meeting of the Shareholders, and shall bo eligible for
re-election ; and ctich Stockholder shall', on all occasions on which
the votes of tho Shareholders are to bo taken, have one vote for each
share held by hin> for at least three months before tho time of
voting: Stockhohiers may voto bv ^iroxy, but no person but it
Stockholder shall vote or act as sucli proxy : And no Cashier, Bank

Clerk

1871.

Saving's Banks, Ontario and Qaehcc. Cap. 7.

Clerk ort^l-h'bv ollioci- oi' tlio ".•tiil; >h\\\\ vote oillici- in pornoii or by Proxies,
proxy or hold a proxy for lliat imi'posc.

S. SoBOon as (lio first goiior!'.; mcotini,M.f' the h'tocklioUors, f jr Trnnsfor of
the election of iJircctors and other iiurposes, has hoen hold, and the ""'Kl'ts inJ

D- „-,„ , 1 . 1 1, ji ,1 nubilities to

irectors elected, ail t ho assets and properly, estates and efrccts, tho Now

real or personal, choscs in action, claims, ri--hts and credits of the uink*"'"'*
Savings Bank to bo continued under such Charter, an<l all the
powers of such Savings Bank or of tho Trustees or Managing-
Directors thereof, with respect to tho same, shall bo, ipso facto, and
by virtue of the said Charter and of this Act, transferred to and
vested in tho Coi-poration of tho Chartered Bank, and the Directort
thereof, and such Chartered Bank, shall bo charged with and liable
for all the debts and liabilities of tho Savings Baidc ; and any suit or
proceeding by or against tho Savings Bank, or tho Trustees or
Managing Directors thereof, pending at tho time of such transfer,
with respect to any right cr liability so transferred, may bo con-
tinued and complctod in the name of tho Chartered Bank, upon
suggestion of this Act and tho said Charter.

!K *Tho Directors of the Chartered Bank may call up tbo stock Calling in
Hub:-cribed for and remaining unpaid, by calls not exceeding five per tlu^^CoL of
cent, and at intervals of not less than three months, whenever it Directors in
shall in their opinion bo necessary or expedient to make such calls; ' "' '^^'^^^'
but it shall bo their duty to call up fivo per cent, of tho stock, or
such other percentage thereof as wiil in tho whole amount to not
less than $100,000, every twelve months after tho first election of
Directors, until twenty-fivo per cent, of tho whole stock, or
$200,000 if the capital bo not more than $800,000, shall have
been paid up, and all stock when paid up shall bo invested in
Dominion Stock, or other Dominion securities, or public securities
of any of tho Provinces of the Dominion : Provided that the limi- Pronso.
tation of the amount of any call, or of tho intervals at which calls
may be made, shall not apply to the case of donoicncy of the funds
of the Bank to meet tho claims of depositors and other liabilities,
which case is provided for in the eleventh section.

lO. The amount of every such call if not paid when duo, may bo Recovery of
recovered with interest bv the Directors in the iiamo of tho Bank, '^^"^ ^^

/-(.,•..,.. action.

in any Lourt havnig jurisdiction to the amount; and in any action Proof in sucl».
for the recovery thereof, it shall bo sufHcient to allege and prove '^'^^°'
the Charter, and that the calls were made under this Act, and that
the defendant is tho holder of a ^lare or shares \n respect of which I

tho

•Amended by 3C Vic, cap. 72, sec. J, (see p. 70).

Cap. 7.

Savins^s Banks, Ontario ami Qi/rhrr. 34 ViCT.

i' phf

liiii

tho fimourt is duo, without allon-iuLC or ])roviii<^ :iiiy otlicr niuttoi
or tiilng wliatover, auil tlio ovidcnco of ii..y ollitiT of tho Bank,
cognizant of anj' fact verjuircd to bo ])rov('d, shall lio sufiicionl
proof thereof, and any ('0])y of tho Charier, purport ini^ to he eer-
tifiod as n true copy thereof by tiie Secretary of State of Cana(hi,
shall bo deemed autiientic and shall bo ]>rirnd facie ovidonco of the
Charter and of the contents* thereof.

liiability
of stock-
holders incnso
of deficiency
of aBscts to
inoet claims.

11. The stockholders of tho Bank shall, in tho event of its funds
in money and assets immcdiaioly convertible into jnoney bccoi ariir
insufficient to satisfy its debts and liabilities, bo liable for tho deti-
cienc}', so far as that each stockholder shaH be lial>le to an amount
equal to tho amount (if any) not paid up of their shares respectively,
and no more; and the Directors may and shall make calls on the
unpaid-up stock to tho full amount not paid up, or to such less
amount as they may deem necessary to ])ay all such claims and
other liabilities, without waiting for tho collection of any debts due
to the Bank, or tho sale of any of its assets or property ; such calls
shall bo made at intervals of thirty days, and upon notice to be given
thirty da3-s at least prior to tho day on which the call shall bo pay-
Calls in si:ch able; any audi call shall not exceed twenty ]ier cent, on each share,
*'*'''■ and payment thereof may ho enforced in tho manner hereinbefore

provided as to calls on unpaid-up stock ; and tho first of such calls
shall be made within ten days after such deficiency as albresaid
^hall bo ascertained, and the failure on the part of an\' Stockholder
iiablo to such call to pny the same when due, shall operate a for-
feiture by such Stockholder of all claim in or to any part of the
assets of tho Bank, such call and an}' farther call thereafter being
nevertheless recoverable from him as if no such forfeiture had been
incurred.

liability after
transfer of
shares for a
certain
period.

liability of
Directors
refusing to
malio such
calls.

12. Persons who having been Shareholders in the Bank, have
only transferred their shares or any of them to others or registered
the transfer thereof, within one month before tho commencement of
the failure of tho Bank to meet the claims of its depositors on
demand, shall bo liable to calls on such shares under the next
preceding section, as if they had not transferred them, saving thoir
recourse ngainst those to whom they Averc transferred ; and an}'
Director refusing to mak'o or enforce, or to concur in making or
enforcing any such call, shall be deemed guilty of a misdemeanor
and shall bo personally responsible for any damages sullerotl b\'
reason of such default; and any assignee or other officer or jierson
api^ointed to wind up tho affairs of the Banlc, in case of its insol-
vency, shall have the powers of the Diroetoi-s wiih respect to such
calls.

1871.

Siiviiii^'s Jj(ui/i'^, Onffirio (iiid (^itchvi

Cap. 7.

i:». The ^liaivs ill tli(! IJaiilc hliall Ik' iiorsDual prniiortv, aiid
traiislcralilo in the maiiiu'i' jn'ovidcil liy tlio I>y- laws and ri'L^nlatious
to bo made as alinv.-aiil ; and llio transti'i-co shall liavtMlio ri^lil->
and bo .siilyoci to tho liabilities ol' the ori^'inal bolder, but no shaic
shall bo tlivided, ami if any shares beheld by several persons jointly,
ono of them shall be appointed by tho others to vote thereon, to
rceeivo dividends and to do all things that may rc(iuiro to bo done
in rospeet thereof, and his power to that effect shall bo lodged with
tlio Bank.

11. It shall be lawful for tho Bank to rceeivo deposits of money
for tho benefit oi' jjorsons depositing the same, and to invest the
same as liereinafter jicovidod, and to aeciimulato tlie revenues and
prolits wiiieh shall be derived from tho investment of so much
thereof as shall not bo required to meet ordinary demands by tho
depositors, and out of sucli accumulation to allow and pay to the
depositors thereof such rate of interest on such dejjosits as shall from
time to time bo lixod by tho Governor in Council, such rate not being-
less than four nor moro than tivo per cent, per annum.

15. Every depositor, whether male or female, on making his or
lier first deposit in the said Baidc, shall disclose and declare his or
her name, residence, quality and occupation.

lO. It shall bo lawful for tho Bank to recoivo deposits from any
person or persons wliosoniever, whatever be his, her or their status
or condition of life, and whether such person or persons be qualified
by law to enter into oi-dinary contracts or not ; and to pay any
part of or all tho princijial thfireof, and the whole or any part of
the interest thereon, to such pox'^on or persons resiiectivcly, without
tho authority, aid, assistance or intervention of any person or pei'-
sons, official or officials being required, any law, usage or custom to
the contrary notwithstanding: Providotl always, that if tho person
making any deposit in tho Bank be not, by the existing laws of
the Province where tho Bank is established, authorized to do so,
then tho total amount of deposits made by such person shall not
exceed tho sum of two thousand dollars.

17. ='=It shall bo lawful for tho Bank to invest any moneys
deposited therewith, to an amount not exceeding in any case its
subscribed capital, in any stock or public securities of tho Dominion,
or of any of tho Provinces of the Dominion, or in any Municipal
Debentures, or in tho manner provided in the ''vi next following
sections, and not otherwise, except only in the manner hereinafter

provided

Tnin-'tors (if
.siwlc.

Hank mny re-
oeivo (lepoBitH
iiiul j)ay inter-
est.

Tlio rnto to bo
fixed l).v
(loveriiiir \n,
(.'ouiifil.

I)opo8itors to
give nauio and
addroas.

Dopositi! from
minors and
persons not
otherwise abla
to enter into
contracts.

Investment of
deposits to
tho amount of
tho stibHcribed
Capital ot"
the ISiMik.

* Amended by 36 Vic, cap. 72, sec. 1, (see p. 70>.

Ill

rrovisii

Cap. 7.

Saiuni^n JJnnh, Ontario and Quebec, 34 ViCT.

The siniH'.

■What col-
lateral

(lec'urity may
bo taken.

Enforcing
[laymont of
loans iiiado by
tho Bank tn
collateral
security.

Proviso :
fUher ro-
cnurso not
affected.

]ir()vi(lc<l !is lo (i<'|)().sils in cxcoss of tlio imiKUiit of tlio capital of
llio JjJinic : rrovidod, lliat tlio J>aiiU may coiitiiuui lo hold any ttock
of any now existin<^ cliarlorod Utink, licld liy it lioforo it bceomes
cliurtor uiidor tiiis Act, and may sell and dispose of mich Ktock.

1H, It uliall also lie laAvfiil for tho Bank to loan such moneya to
tho amount of its subscribed capital, and no moro, upon tho personal
security of individuals, or to any corporate bodies, provided that
collateral hccuritios f)f the natnro mentioned in tho next preceding
section, or British or rorcign Public securities, or stock of some
chartered bank in Canada, or any stock in the incorporated Build-
ing Societies, or in bonds or debentures or stock of any incorporated
Institution or Company, be taken in addition to such personal or
corporate secui'ity, with authority to soil such securities if tho loan
bo not ]iaid ; but tho Baidc shall not niako any loan directly or
indircctlj' ujion th-o security of real catnto, or with any referenco to
tho security of real estate, except that nothing lierein contained
shall prevent the Bank from taking security upon real estate in
addition to .such collateral securities, subsequently to tho making of
the loan, and subsidiary to tho security originally taken therefor. 'i=

lt>. In tho event of tho Bank making any loan under the two
next preceding Kcctions, upon personal securities with collateral
security, other than real ])roporty, for tho rcpayinent thereof, if the
ro])!iyinont is not made within thirty days after such loan becomes
due or ])ayable, the Bank may sell tho same after notice shall have
been given to the borrower or party dc])ositing such collateral
security, by addressing and mailing to tho last known place of his
lesidenco, a letter containing such notice ; and such sale niay be so
made, of whatever natui-e such collateral securities may be, whether
consiifting of .stocks, bonds, debentures, or negociablc paper ; and tho
President oi- Vice-President, Manager, Cashier, or other Officer of
the Bank, thereunto authorized by the Directors, may transfer and
convey any fccurities so sold to the purchaser, in whom the property
in such security sliaH become vested by such conveyance or transfer,
but without any warranty from tho Bank, or from any officer
thereof; and tho Bank shall only bo bound to account to the person
or persons indebted to it in the amount of such loan, for tho actual
net proceeds of the sale of such collateral securities, after deduction
of all costs and charges thereon ; Provided always, that nothing
herein contained shall prevent the Bank from collecting orrcalizing
such debt, or any balance which may bo duo thereon, on such col-
lateral

* There is a discrepancy between tho English and French versions of this section.
.^5 Vic, cap. !), ."ec. 3 (see p. C'J), declareH the EnijlUh version to bo correct. This
£cction is amended by Efc. 2 of the same Act.

i 1

U Vict.

■apital of
uiy btock
. l)CP()nie8

ch htuck.

noncya to
! personul
idcd that
irccoding
c of Bomo
cd Build-
orporated
ji'sonal or
r tho loan
ircctly or
fcrcnco to
contained
I estate in
iiaking of
crcfor.*

;r tho two
collateral
cof, if the
1 hccomos
ihall have
collateral
^00 of his
nay be bo
^, ■whether
V ; and the
Officer of
nisfor and
3 property
r transfer,
ny officer
Ihe person
the actnal
deduction
it nothinf;
r realizing
such col-
lateral

' this section,
orrect. This

1871. Saci/ig-a Banha Onlnrio (ind '^urbrc. Cap. 7,

laleial Hcciirilics, in anyway that may liavc liccn ."■.r.-ced on with the
hurrowor depositing the same, or in any other hiwliil way that the
Din^ctors may deem for tho intore^ of the Bank.

20. The l'anl< may jiurchasc any lainls'or real eslale ollered lor
Hale ini(h'r execution at tho snit ot the Baidc, or exjjosed to sale l.\-
the TJanlv under a ])owcr of sale given to it lor that purpose, in eases
•where, under similar circumstances, r.n individual coiddso purchase,
without any restriction as to the value of the lands which it may so
jnirchase, and may acquire a title thcrelo as any individiud purchas-
ing at Sheriff's sale or under a power of sale, in like circnnistances,
could do, and may take, have, hold and dispo.^e of the same at
pleasure.

an. Tho Bank jnay acquire and hold an ai)solule lillo in or to
land mortgaged to it as security for a deht due or owing to it either
by obtaining a release of the equity of redemption in the mortgaged
])roperty, or hy procuring a foreclosure in any '^'ourt of Chancery
or of Equity, or by other moans whereby, as botwcen individuals,
an equity of redemption can by law be barred, or may purchase
and acquire any prior mortgage or charge on siudi land.

33. Xothing in any Act or law shall bo construed as having
prevented or as preventing tho Bank from aciiuii-in'' and holdin"
an absolute title to and in any such mortgaged lands, whatever tho
value thereof may be, or from exercising or acting upon any
power of sale contained in any mortgage given to it or held by it,
authorizing or enabling it to sell or convey away any lands so
morttjaffed.

l!:iiik may
|piircliii,>'i!
iiiijj iiKirt-
t;"!;'''! til it.
II' xdid iiiulor

CXOUUtilJII, Ji.'.

AnJ ohtnin
nil nbanlulu
title, by re-
Iciit<o, .Vc, of
ei[iiily III'
i'ciicuii>tioii.

May oxcroLso
jiower ot salt',
Ac.

33. ^Bej-ond the amount of its subscrilied capital stock, the
Bank shall make no investment of moneys deposited thcrowilh
except only in Debentures of the late Province of Canada, or ])ebeii-
tures secured by the Government of Canada, or Debentures of any

of the Provinces constituting the Dominion of Canada, or in Dominion
Stock bearing interest at a rate greater by one per cent, per annum,
than that which at tho time of such investment tho Bank is directed
by the Governor in Council to pay to depositors; and such Stock
tho Deceiver General may issue to tho Bank at par in sums not
less than §1,000, on payment by the Bank of tho nominal amount
of such stock, which shall not bo transferable, but shall be issued
and redeemed, and the interest paid thereon, in such manner and at
such times, on such notice, in such sums, and shall in all respects- be
eubj:ct to sueb rogtdations, as may from time to time be prescribed
In-

* Amended by 36 Vic, cup. 72, sec. 1, (p. 70). "^

Inve?tn)ont3
bcyonil tiio
ntiKiiiiit of
8ii!)si'ribcJ
(•.•i|)ilal, ti) 1)0
jn (iovern-
iiient ,-euuri-
tiiv.

iStodi'inny
lo ijsucd for
that purpose.

Cap. 7.

S(ivin<j^s Banks, On* ''^ and Qncbvc. 34 Vici.

Nut til )iro-

Vl'llt CBIlOJ^it

I'll ciili in II

cliartdrud

liiitik.

rXCORH of

iiHtictii uver
iiiir value,

illlW til l)0

(li'alt witli.

Fdiliiro to
elect Directors
how reme-
died.

Director bo-
coiiiing insol-
vent.

I)y lilt* Ti'oiisiirv I'ojird uimI !ip|)i'ovo'l l>y tlio (lovcnior in rii:inci!,
tlio iiileri'st on oiie-li .sloi'lv while mn'oclcoiKOil bciii;^ piiiil ti> tlio
l!iiiik.

!2I. Xolliiii,:,' ill llio lour iirxl ;)i'oct'.liii;;' sci'lioiis sliitii [Hi'vont
llu' I'liiik IVom (lopositiii,!? iiiniioy in iiiiy i>t' tlio fluirtcro'l IJaiiks
«m'i'yiiii;j till tlio u;t'iu>r!il husiiu'^s of l).'Mikiii^ in tlio Kumo jiiaeo, micIi
iiioiu-y l)oiiii^ so <li'|)i)sil(>il on call, to lio witlidriiwii at any tiiiio
witlioul iiotic'o, iiml wliotiu'r willi or without interest.

tS9* Within throe inonth-^ at'lor iho oloctinn f)f Directors of any
Savings ]5aiilc I'hai'lered nndcr tliis Act, the Directors wiiall niaUo
out a Htutemoiit of tho allairs of tlio Haiilc, hhowing tho value of
its assets, (incliKliiii,' any reserve fund), at par, and diirini!; two
years from the date of Muh slalenieiit they may iTidi/A- sueli
assets at their market vidue, l<ee|)iiig an account of tho i)roceods
tiioreof; and during sueli two yotirs tliey shall distribute yearly to
(diaritalde institutions tho aver/ go amount per annum which tlio
Trustees or Muuaging Directors of the Savings Banlc for wliich
such Chartered Bank is suhstitiitcd, so distriljutod during tiie tlirco
3'oars next preceding the granting of tho Charter; and at the end
of such two years the amount ascertained to have been realized for
such assets (and such rescrveil fund) over and above their nominal
value at par, shall bo invested in Dominion Stock by tho Directors,
and the interest thereof shall be distributed yearly by tho Directors
among cliaritalde institutions. 'i-

S6* No failure to elect Directors of any such Chartered Savings
Bank shall operate any dissolution of the Corporation ; but in case
of such failure to elect, the required election shall bo made as soon
thereafter as may bo, at a special meeting of tho Stockholders,
which the Directoi's are hereby authorized to call for that purpose;
and until such subsetpicnt election shall bo made, tho official acts of
tho Directors holding office shall bo valid.

2T. Any Director of any such Bank who shall become openly
and notoriously insolvent, or shall have assigned his estate and
effects for tho benefit of his creditors, or shall absent himself with-
out tho consent of tlie Board for twelve consecutive months from
tho meetings of tho Directors, or shall have been convicted of any
felony, shall thereupon, ipso facto, cease to be a Director, and tho
vacancy 'o created .shall forthwith bo filled up in the manner
provided by tho Charter.

2S.

♦Amonded(scc Note, ante p. 5C), as to tho City and District Savings Bank of Montreal.
"C Vic, Cop. 72, sec. 4, also gives like powers to Lu Cutuse d'L'conomie do Notve Dume-
dc Quebec, whose poor fund is declared to bo ascertained and settled at $83,000.

i ■!'■■""•■•
ikil ■ '

1871.

Snvint^s Banks, Ontario ami Quebec.

Cap. 7.

m caiso
IS Hoon
oldors,

lurposo ;
acts of

openly
lie and
f with-
is from
of iiny
uml the
niannci"

38.

Montreal.
otve Dume-
100.

TraoimlRilun
ofHharea or
dopo«it uthor-
wlso than by
regular trana-
for, how
proved.

J8N. If tlio intorost in any deposit or nharo in any sucli bank
boeomos transmitted in conHequonco of the death or bankruptcy of
any depositor or Sliaroholdor, or in ('onsoi|uonco of tlio marriage of
a female depositor or Sliaroholdor, or by any other lawful means
than by a transfer upon the books of the Bank, or by deed signifiod
upon the Hank, such transmission shall bo authontioatod l)y a decla-
ration in writing, which declaration shall distinctly state the manner
in which and the party to whom such deposit shall have been trans-
mitted, and shall be, by such party, made and signed ; and every
such declaration shall be, by the party making and signing the
same, sworn to before a Judge or Justice of a Court of Record or
Chief Magistrate of a City, Town, Borough or other ])lace, or before
a Public Notary, whore the same shall bo made ami signed; and
every such declaration so signed and sworn to, shall be left with the
Manager or other officer or agent of the Bank, who shall thereupon
enter the name of the party so entitled to the same, under such
transmission, in the books of the Bank, as j)rnprietor of such deposit
or share; and until such transmission shall have been so authentica-
ted, no party or person claiming, by virtue of any such transmission,
shall be entitled to receive such depositor share or any part thereof,
or of any interest or dividend thereon ; Provided always, that every
such declaration and instrument as by this and the following section
of this Act is required to perfect the transmission of a deposit or
share in the Bank, which shall be made in any other country than
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 accre-
dited representative ; And provided also, that nothing in this Act
contained shall be held to debar the Directors, Manager or other
officer or agent of the Bank from I'equiring corroborative evidence
of any fact or facts alleged in any such declaration ; and' that if pay-
ment be made to any depositor of any deposit or of any interest
thereon, or of any dividend on any share after transmission thereof
by any of the means mentioned in this section, but before such
declaration is made and authenticated as aforesaid, such ]>aymont
shall be valid and shall discharge the said Bank.

29. If the transmission of any deposit or share bo by virtue of Transmtssion

the marriage of a female depositor, the declaration shall bo accom- ^^ ma"iago

° i ' or by decease,

panied by a copy of the register of such maiTiage, and shall declare

the identity of the wife with the holder of such depositor share; " ""
and if the transmission have taken place by virtue of any testamen-
tary instrument or by intestacy, or by the vacancy of the estate of
a deceased depositor or Shareholder, the probate of the will, or, if
5 it

Proviso : as
to declaration
made in a
foreii(n
country.

Proviso :
Bank may
require fur»
ther proof.

Cap. 7.

Savings Banks,

Ontario and Quebec. 3 1 ViCT.

k'l

Bank not
hound to 600
to trusts.

If the stock
Btands in the
names of
more than
ono person.

Payments
made in good
faith on cer-
tain docu-
ments to bo
valid.

it bo notarial, an authentic copy tlioroof or tho letters of adminis-
ti'ation or act of tutor.sliip, or curator.ship, or authentic ccrtilicatch-
of birth, a-j tho caso may bo, ssliall, together with sucUydeeUiration,
bo produced and loft with tho Manager or other officer or agent of
tho Bank, who shall thereupon outer tho name of the party entitled
under .such transmission in tho Books of tho Bank.

30* Tho Bank shall not bo bound to soo to tho execution of any
trust, Avhcther expressed, implied, or constructive, to which any of
tho deposits or .shares therein may bo subject; and tho receipt of the
party in whose name any such deposit or share shall stand in the
books of tho Bank, or if it stands in tho name of more parties than
one, Mio receipt of one of tho parties shall bo a sufficient discharge
to the Bank for such deposit or share, interest or dividend thereon,
or for any other sum of money payable in respect of such deposit
or share, unless express notice to tho contiary has boon given to the
Bank, or such deposit bo made upon express conditions as to the
person or persons to whom such deposit shall be paid, in which case
such deposit shall bo governed by such conditions ; tho whole not-
withstanding any trust to which such dej^osit may then be subject,
and whether or not tho said Bank have had notice of such trust ;
and the said Bank shall not bo bound to sco to the apijHcation of
tho money paid on such receipt, whether given by ono of such
parties or all of them.

31* Any payment of interest or dividend, or of tlio whole or any
part of any deposit, made in good faith to any person or persons
appearing prima facie to bo entitled to such intoi'ost, dividend, or
deposit, by the production of a declaration in writing, and of the
documents in support thereof hereinbefore mentioned, shall be valid ;
and the discharge of such person or persons shall be sufficient, and
shall discharge tho bank from all or any further claim by any per-
son whomsoever for such interest dividend or deposit.

32. If any officer, clerk, or servant employed under the pro-
visions of this Act, defiiccs, alters, erases, or in any manner or way

bezzling
money of tho
Cank.

Punishmont
of officers
frudulontly

altering ijooks whatsoever changes tho effect of tho books of account that may be
kept under the provisions of this Act, or any entry in tho said books
of account, for any fraudulent purpose; or if any such officer, clerk,
or servant secretes, appropriates, oc embezzles any bond, obligation,
bill or note, or any security for money, or any money or ctrects,
entrusted to him, or in his custody, or to which bo has obtain
access as such agent, officer, clerk, or servant, to wliosomevcr tho
said propert}' may belong, the person so offending is guilty of felony,
and on conviction thereof shall bo liable to bo punished by imprison-
ment

i:i

!f!)

U Vict.

adminis-
nlilicate^*
t'luralion,

agent of
y entitled

3n of any
oh any of
Mptoftho
nd in tlio
rtics than
discharge
1 thereon,
ch deposit
ven to the
as to the
fhich case
w^hole not-
be subject,
uch trust ;
lication of
10 of BUCh

ole or any
or persons
vidend, or
and of the

be valid ;
ieient, and

any per-

f the pro-
ler or way
at may be

said books
icer, clerk,
obligation,

or clfects,
IS obtain
mevcr the
Y of felony,
y imprison-
ment

1871.

Savings Banks, Ontario and Quebec.

Cap, 7.

ment for any term not loss than two years in the Provincial
Penitentiary, or by imprisonment in any other gaol or place of
confinement, for any time Icrss than two years, in the discretion of
tlio Court before whom ho may be convicted; Provided always, that Pronso.
nothing heroin contolned, nor the conviction or punishment of the
oflender, shall prevent, lessen or impair any remedy which ller
Majesty, or the Receiver General, or any other person or party would
otherwise have against any other person or party whatsoever.

3S. Any person who falsely pretends to be the owner of any Punishment
deposit made under this Act, or of the interest upon tiuch deposit, profoajtnif to
or of any part or portion of such deposit or interest, and not being own deposits,
such owner, with intent to defraud, demands or claims from tho
Bank with which such deposit has been made, or from any party
employed under this Act, the payment of such deposit or interest,
or of any portion thereof, as tho case may be, and whether ho does
or does not thereby obtain any part of such dejiosit or interest, is
guilty of a misdearaeanor, and shall on conviction bo punishable
accordingly ; Provided, that any ofTondor against tho provisions of Proviso,
this or tho next preceding section, may bo indicted and punished
either under this Act or tho Act respecting larceny and other
similar offences, if his olfenco bo one punishable under that Act,
but ho shall not be more than onco punished for the same oflenco.

34. The making of any wilfully false or deceptive statement in Punishment
any account, return, report, or other document respecting thoafTairs J°r "'"'""S
of the Bank, shall, unless it amounts to a higher olfenco, bo a mis- montsinany
demeanor; and any President, Vice-President, Director, Auditor, other doou-
Cashier, or other ofHcer of tho Bank, preparing, signing, ajiproving ™ent.
or concurring in such statement, return, report or document, or
using the samo with intent to deceive or mislead and party, shall
bo held to have wilfully made such fal.so statement, and shall
farther be responsible for all damages sustained by such l)arty in
consequence thereof

35. No Savings Bank chartered under this Act shall issuo any Savings Bank

not to issuo
13ank Notes.

Batdv note, or note intended to circulate as money or as a substitute ""'^*^<"^^»o

for money, or bo deemed a Bank within tho meaning of the Act
respecting Banks and Banking.

36. This Act shall bo subject to any general provisions which To be subject

Parliament may deem it advisable to make for protecting the in- ^^^°y S®"*"'*

terest of depositors in any Savings Bank or of the public ; and to

those of any general winding up Act which may be declared to

apply to Savings Banks acting under this Act; and no such pro- i

vision, or any provision that may bo mado for carrying out the true

t
intent

r'l,'!

Lists of
shareholders
in Landed
Creait Com-
panies to bo
laid before
Parliament
yearly.

Chaps. 7, 9.

Savings Banks.

34, 35 Vict,

intent and objecta of this Act shall bo deemed an infringement of
tho privileges of any Savings Bank or Banks acting as such under
this Act.

3T« ^Certified lists of tho shareholders of Landed Credit Com«
panics, with their additions and residences, the number of shares
they respectively hold and tho amount paid thereon, shall be laid
before Parliament every year within fifteen days of tho opening of
the session.

i'-

i',;

CAP. IX.

An Act to amend the Chapters Six and Seven of the
Statutes of 1871 relating to Savings Banks.

[Assented to Hth June, 1872.]

Preamble. JN amendment of the Act passodin the thirty-fourth year of Her
.34 Vict., c. 6, J^ Majesty's roign, and intituled " An Act to provide additional

facilities for Depositing Scvings at Interest, with the Security of the

Government, and for the I.isut and Redemption of Dominion Kofes," —

Her Majesty, by and with the advico and consent of the Senate and

House of Commons of Canada, enacts a.s follows : —

Section 16 1* Whereas by the sixteenth section of the Act cited in the pre-

amendedas to amble, it is provided that any surplus or deficiency in tho property
and assets, as compared with the liabilities, of tho St. John Savings
Bank (New Brunswick) shall bo taken into aecount, and a 'proper
allowance made therefor, in tho settlement of the accounts between
the Dominion and tho said Province, and it has been found exjie-
diont, and has boon agreed, that the following provision be made in
lieu of that so made as aforesaid, thercforo, — the surplus of the
assets and property over the liabilities of the said St. John Savings
Bank, on tho first day of July, 1871, which has boon as^ortained to
be thirty-nine thousand five hundred and sixty dollars and forty-four
cents, shall be left in the hands of the trustees of tho said Savings
Bank, to bo by them appropriate ^ -^nd paid over for such local pur-
pose or purposes of public interest, in the city of St. John, as may
be approved by the Governor in Council, — and ho much 'f the said
section or Act as may be inconsistent herewith is hereby repealed.

assets over
liabilities of
St. John Sav-
ings Bank,
N.B.

♦Repealed by 36 Vic, cap. 72, sec. 5, (see p. 72).

1.^

Caps. 9, 72.

Savings Banks, Sfc.

S*^, 36 Vict.

Provision for
distribution
of surplus of
assets over
liabilities of
Northumber-
land and Dur-
ham Savings
Bank.

3* And whereas the affairs and business of the Northumberland
and Durham Savings Bank have been wound up and the institution
has been closed, in view of the approaching expiration of the Act
under which it was constituted, passed by the Legislature of the
late Province of Canada, in the session thereof, held in the fourth
and fifth years of Her Majesty's reign, and intituled " An Act to
encourage the establishment of, and to regulate Savings Banks in this
Province," — and there is no charitable institution to which the sur-
plus of the aiL'sets of the institution over its liabilities ought to be
distributed under the said Act, — Therefore the surplus of the assets
of the said Savings Bank over its liabilities, on the tenth day of
April, 1872, which have been ascertained to be eighty-seven thou-
sand six hundred and sixty-nine dollars and ninety-one cents, shall
be left in the hands of the Trustees of the said Savings Banfe, or the
majority of them, to be by them appropriated to some local purpose
or purposes of public interest, subject to the approval of the Governor
in Council.

3« And for the avoidance of doubt by reason of a discrepance Error in
between the English and French versions of the eighteenth section o/*°i8 of'34*"*
of the Act passed in the thirty-fourth year of Her Majesty's Reign, Vio., 0. 7,
and intituled : " An Act respecting certain Savings Banks in the Pro- *^°^"*^'® •
vinces of Ontario and Quebec," — it is hereby declared that the English
version of the said section is con-ect, and that for the expression
capital verse, — in the second line of the said section as printetl in
French by the Queen's Printer, the expression capital souscrit ought
to have been and is hereby substituted, and the said section and
Act, shall have effect as if such substitution had been made at the
time of the passing of said Act.

CHAP. 72.

An Act to amend the Act respecting certain Savings
Banks in the Provinces of Ontario and Quebec.

[Assented to 23rrf May, 1873.]

IN amendment of the Act passed in the thirty-fourth year of Hov preamble.
Majesty's reign, and intituled '■^An Act respecting certain Savings 34 Vic, 0. T.
Banks in the Provinces of Ontario and Quebec," Iler Majesty, by and
with the advice and consent of the Senate and House of Commons
of Canada, enacts as follows ; —

Chap. 72.

Certain Savings Banks.

3G Vict.

Sections 6, 9, !• So much of tho sixth, ninth, seventeenth, oigliteenth oi* twenty-
amended ns to ^^^^^^ sections, ov of any other part of the said Act, as requires that
investment of tlie capital stock Or any part of the capital stock of a Savings Bank
deposits. to which the Act applies, sliall bo or remain invested in Dominion

stock or other Dominion securities, or securities of any of tho Pro-
vinces of tho Dominion, or as provides that beyond tho amount of
its subscribed capital stock a Savings Bank to which tho Act appliest
shall make no investment of moneys deposited therewith, except
only in the debentures or Dominion stock therein mentioned, or as
empowers tho Receiver General to issue to any such Bank Dominion
stock bearing interest at a rate greater by one per cent, per annum
than that which at the time of such investment tho Bank is directed
by tho Governor in Council to pay to depositors, is hereby i*epealed,
except only as respects such last mentioned Dominion stock issued
before the passing of this Act ; and it shall bo laAvful for any such
Savings Bank to invest or loan any amount whatever of tho moneys
deposited with it or of its capital stock, in any manner in which it
may, under tho provisions of tho eighteenth section of the said Act,
invest or loan any amount of the moneys dcjjosited with it : Provided
Proviso. always, that every such Savings Bank shall alwaj-s hold at least

twenty per cent, of tho moneys deposited with it in Dominion
securities or deposits in Chartered Banks, on call.

Monthly 2. Monthly returns shall bo made, by every Bank to which the

returns by the g^ij j^q^ applies, to the Government, and shall be made up within
Government, the first ten days of each month, and shall exhibit the condition of
tho Bank on the last juridical day of the month next preceding ;
and such monthly returns shall be signed by tho President or Vice-
President, or tho Director then acting as President, and by the
Manager, Cashier or other principal officer of the Bank at its seat
Form thereof, of business, and shall be published in tho Canada Gazette ; and such
monthly returns shall bo in tho following form, and shall bo instead
of any periodical returns (if any) required by the charter of the
Bank, except tiie certified lists of stockholders ; and tho first of such
monthly returns under this Act shali bo made within tho first ten
days of tho month of July in tho present year, 1873 : —

Return of the amount of Liabilities and Assets of the (name of the
Bank) on the day of , A.D. 18

Capital Stock, $ . Capital Paid-up, $ . .

LIABILITIES.

1. Dominion Government deposits, payable on demand. .

2. Provincial Govcrumcut deposits, payable on demand .

$ cts.

l! '•'II

1873.

Certain Savin^^s Banks.

Chap. 72.

3. Othov deposit.'?, i^ayable on doraaml

4. Dominion GovGi-nment dei)osits, payable after notice

or on a fixed day

5. Provincial Government deposit.*, payable after notice

or on a fixed day

0. Other deposits*, p'.yablo after notice or on a fixed day.

7. Special Poor Fund or Charity Fund Trust

8. Liabilities not included under the foregoing heads ....

$ cts.

ASSETS.

$ Cts.

1. Dominion securities

2. Provincial or municipal securities

3. Loan.q for which Dominion or Provincial securities

are held as collateral security

4. Loans for which Bank stocks are held as collateral

security

5. Loans for which other stocks, bonds or debentures, as

authorized by law, arc held as collateral security.

6. Cash in hand or in deposit on call in Chartered Banks.

7. Specia' ^oor Fund or Charity Fund investments

8. Investments in Bank stock made previous to the

incorporation of the Bank

9. Other assets not included under the foregoing heads. .

Wo declare that the foregoing return is made up from the books
of the Bank, and that it is correct, to the best of our knowledge and
belief.

(Place) this

day of

,18 .

A. B., President, &c.
C. D., Cashier, &c.

3* The jirincipal of the Poor Fund of the City and District poorFundat
Savings Bank of Montreal, under the third sub-section of section Montreal,
five of the said Act, which has been ascertained and settled at one
hundred and eighty thousand dollars, shall be invested and held by
the said Bank in debentures of the city of Montreal, with i)ower to
change the investment of the same or of any part thereof, from time
to time, with the approval and permission of the Treasury Board,
but not otherwise.

4. The principal of the Charity Fund of La Caissc d' Economic charity Fund
de Kotre Dame de Quebec, under the said sub-section of section *** Queijee.
twenty-five of the said Act, which hau been ascertained and settled

Chap. 72, 71. Interest in Nova Scotia, Sfc.

36 Vict.

Sect. 37 re-
pealed.

at oighty-thrco thousand dollars, shall bo invested and held by the
said Bank in debentures of the city of Quebec, with power to change
the investment of the same or of any part thereof, from time to
time, with the approval and permission of the Treasury Board, but
not otherwise.

5* Section thirty-seven of the said Act is hereby repealed.

CHAP. 71.

An Act respecting Interest and Usury in the Province

of Nova Scotia.

Preamble.

Interest,
vrhere no rate
is fixed. .

[Assented to 23rd May, 1873.]

ER Majesty, by and with the advice and consent of the Senate
and House of Commons of Canada, enacts as follows : —

1. In the Province of Nova Scotia in all cases where interest is or
may be chargeable or recoverable by law or by any contract express
or implied, and the rate of interest shall not have been agreed upon
in writing as hereinafter provided, such rate shall be six per cent,
per annum.

When secured
on land, &c.

3* Any person may nevertheless stipulate and agree in writing
for any rate of interest not exceeding seven per cent, per annum,
for the loan or forbearance of money to be secured on real estate or
"When only on chattels real : Any person may also stipulate in writing for or may
persona/^ ^^ receive m advance any rate of interest not exceeding ten per centi
security. per annum, where the security for the payment of the money con-

sists only of personal property or the personal responsibility of the
party to whom forbearance is given or others.

3* In any action brought on any contract whatsoever, in which
there is directly or indirectly taken or reserved a rate of interest
exceeding that authorized in the second section of this Act, the
defendant may, the same being duly pleaded as in other cases, prove
such excessive interest, and it shall be deducted from the amount
due on such contract.

Exception as 4, The foregoing provisions shall not extend to any hypotheca-
to bottomry ^. ..... . , • . r / j

bonds. tion or agreement in writing entered into for money advanced upoiy

the bottom of a ship or vessel, her cargo or freight.

Repeal. 5, Sections one, three and six, of chapter eighty-two of the

Revised Statutes of Nova Scotia, second series, intituled " Of

Interest*'

In action on
contract, de-
fendant may
have interest
reduced to
legal rate.

.1-

1873, 1875. Interest awl Usury in N. B., SfC Chaps. 71, 18.

Interest, ' continued in force in the Appendix to the Revised
Statutes of Nova Scotia, third series, page Til, are hereby repealed,
except as provided in the next following section, with resjiect to
the. cases therein mentioned.

O* Notliing in this Act shall extend to or bo construed to extend Act not to
to contracts or securities entered into before the passing of this Act, exUtTng'oon-
or to legalize any previous contract, security or loan, made, entered tracts, Ac.
into, given or taken before the passingof this Act; but all such con-
tracts, securities or loans shall bo construed, considered and dealt
with, as well in civil suits as in proceedings for penalties, as if this
Act hatl not been passed ; and for all such cases the said chapter ^^'»'*t '***
eighty-two of the second series of the Revised Statutes of Nova to them!'' ^
Scotia, intituled " Of Interest,'^ shall bo considered in force and
unrepealed.

7» Nothing in this Act shall extend or be construed to extend or Act not to
apply to or affect any Chartered Bank. ^aS ***

CHAP. 18.

An Act relating to Interest and Usury in the ProTince

of New Brunswick.

of the
ed "Of
ntercst"

[Assented to 8th April, 1875]

WHEREAS it is expedient to repeal a portion of the laws at treambie.
present in force in the Province of New Brunswick relating
to usury : Therefore Her Majesty, by and with the advico and con-
sent of the Senate and House of Commons of Cauada, enacts as
follows : —

1. From and after the passing of this Act, any person or persons Any rata
may stipulate for, allow and exact on any contract or agreement g^au bo°"
whatsoever made or to be performed in the Province of New lawful.
Brunswick, any rate of interest or discount which may bo agreed
upon.

3. None of the provisions of this Act shall apply to any bank or Exception as
incorporated company, but all laws at present in force in the said '

Province relating to interest or usury shall remain in full force in
relation to all transactions of such banks or incorporated com-
panies.

!!■-

If:

I-

Existing
rights Biired.

Chaps. 18, 0.

rromi.fsori/ Ncfen, Sfc.

38, 31 Vict.

a, Notliin*,' herein contained bIiuH prejudico or affect the rifjjhts
or remedies ot" any person, or diminish or alter the liaiiilitieHof any
person, in respect to any act done befolo the passing of this Act.

Inconsistent 4.<. All Acts and parts of Acts of the General Assembly of tho
laws repealoiL pj.Q^^j^^.^ ^f New Brunswick inconsistent with tho provisions of this
Act aro hereby repealed.

IHU '

Preamble.

Iha Duties.

r u

r!) 'ill";

CAP. IX.

An Act to impose duties on Promissory Notes and Bills

of Ejcchange.*

[Assented to 2lst December, 18G7.]

ER Majesty, by and with the advice and consent of tho Senate
and House of Commons of Canada, enacts as follows :

Dnties im-
posed on Notea
Drafts aad
Bills.

1. Upon and in respect of erery Promissory Note, Draft or Bill
of Exchange, for an amount not less than twenty-five dollars, made,
drawn or accepted in Canada, upon or after tho first day of February,
in tho year one thousand eight hundred and sixty-eight, there shall
bo levied, collected and paid to Her Majesty, for tho public uses of
tho Dominion, tho duties hereinafter mentioned, that is to say: —

On each such Promissory Note, and on each such Draft or Bill of
Exchange, a duty of ono cent, if such Note, Br!l or Draft,
amounts to but does not exceed twenty-fivo dollars ;— a duty
of two cents if tho amount thereof exceeds twenty-fivo dol-
lars but docs not exceed fifty dollars, — and a duty of three
cents if tho amount thereof exceeds fifty dollars but is less
than ono hundred dollars.

On each such Promissory Note, and on each such Draft or Bill of
Exchange, for ono hundred dollars or more, executed singly,
a duty of three cents, for tho first hundred dollars of tho
amount thereof, and a further duty of three cents for each
additional hundred dollars or fraction pf a hundred dollars
of tho amount thereof;

On each such Draft or Bill of Exchange executed in duplicate, a
duty of two cents on each part for the first hundred dollars of
tho amount thereof, and a further duty of two cents for each

additional

* Amended by 33 Vic., cap. 13, (p. 80), and again by 37 Vic, cap. 47, (p. 83).

31 Vict.

tho ri<:jht.s
lies of any
liin Act.

Ay of the
ons of this

nd Bills

•, 1867. J

ho Senate

s :

aft or Bill
ars, made,
Febi'uary,
hero shall
ic uses of
. say :—

or Bill of
i or Draft,
;— a duty
y-fivo dol-
Y of three
but is le,s3

or Bill of
ed singly,
ars of tho
3 for each
ed dollars

:ii:)licate, a

dollars of

;s for each

additional

1867.

Promissor// Notes, Sfc.

Cap. 9.

additional hundred dollaris or fraction of a hundred dollars
of tho amount thereof;

On each such Draft or Bill of Exchange executed in more than
two parts, a duty of one cent on each part for tho first hundred
dollars of tho amount thereof, and a further duty of one cent
for each additional hundred dollars or fraction of a hundred
dollars of the amount thereof; ;

And any interest made payable at tho maturity of any Bill, Draft
or Note, with tho principal sum^ shall bo counted as part of
tho amount thereof.

3* Every bill, draft, order or instrument, — ^hat shall bo

deemed instru-

For tho payment of any sum of money by a bill or promissory menta liable to.
note, whether such payment bo required to bo made to the " ^*
bearer or to order, —

Every document usually termed a letter of credit, or whereby any
person is entitled to have credit Avith, or to receive from or
■ draw upon any person for any sum of money, —

And every receipt for money, given by any bank or person, and
entitling tho person paying such money, or tho bearer of
such receipt, to receive tho like sum from any third person, —

Shall bo deemed a bill of exchange or draft chargeable with duty

under this Act.

3. Every bill of exchange, draft or order drawn by any officer of Exemptions
Her Majesty's Commissariat, or by any other officer in Uer Majesty's ^''*'°' ''"*^'
Imperial or Provincial Service, in his official capacity, or any
acceptance or endorsement by such officer on a bill of exchange
drawn out of Canada, or any draft of or on Uiiy Bank payable to
tho order of any such officer in his official capacity as aforesaid, or
any note payable on demand to bearer issued by any Chartered Bank
in Canada, or by any Bank issuing such note under tho Act, chapter
fifty-five of tho Consolidated Statutes of the late Province of Canada
intituled : An Act respectinj Banks and freedom of Banking, shall bo
free from duty under this Act, — and

Any cheque upon any Chartered Bank or Licensed Banker, or on
any Savings Bank, if tho same shall be payable on demand,—

Any post office money order, or order on any post office Savings
Bank, — and

?
Any municipal debenture or coupon of such debentiiro,^shall
bo free of duty under this Act.

(p. 83).

4«

Cap. 9.

Promissory Notes, Sfc.

81 Vict.

lluwthedutict 4* Tho duty on any such Promissory Nolo, Draft, Bill of
shall bo paid. Kxcliango, Or part thereof, shall bo paid by makiii;^ it upon paper

stamped in the manner hereinafter provided, to the amount of such

duty, — or

Rtampod
paper

Adhoaivc
stamps.

FrevUion for
oancolUng ad-
hesive stamps.

By affixing' thereto an adhesive stamp or adhesive stamps of tho
kind hereinafter mentioned, to tho amount of such duty, upon which
tho signature or part of tho signature of tho maker or drawer, or in
tho oaso of a Draft or Bill made or drawn out of Canada of tho
acceptor or first endorser in Canatia, or tiia initials, or some integral
or miUorial part of tho instrument shall bo written, so as (jus far an
may be practicable) to identify each stamp with tho iustrumont
to which it is attached, and to show that it has not before been used,
and to prevent its being thereafter used for any other instini-
ment, — or

Tho person affixing such adhesive stamp, shall, at the time of
affixing the same, write or stamp thereon tho date at which it i.s
affixed, and such stamp shall be hold priimi facie to have been affixed
at the date stamped or written thereon ;

And if no integral or material part of the instrument, nor anj-
part of the signature of themaker, drawer, acceptor or first indorser
in Canada bo written thereon, nor any date bo so stamped or written
thereon, or if the date do not agree with that of the instrument,
sueh adhesive stamp shall be of no avail ; and any person wilfully
writing or stamping a false date on any adhesive stamp shall incur
a penalty of one hundred dollars for each such oflfence.

Stamped 5. The Governor in Council may from time to time direct

pre^pared^and* stamped paper to bo prepared for tho purposes of this Aet, of such
used. kinds and bearing respectively such device as he thinks proper, and

may defray the cost thereof out of any unappropriated monies form-
ing part of the Consolidated Revenue Fund ; but the device on each
stamp shall express tho value thereof, that is to say, tho sum at
which it shall be reckoned in payment of the duties imposed by this
Act.

Or date to bo
written on
Stamp.

Penalty for
non-com-
plianco with
this Act.

Avoidance of
Instrument.

Or adhesive
Stamps.

6* Tho Governor in Council may from time to time direct stamps
to be prepared for the purposes of this Act, of f-uch kinds and bear-
ing respectively such device as he thinks proper, and may defray
the cost thereof out of any unappropriated monies forming part of
the Consolidated Revenue Fund ; but tho device on each stamp shall
express the value thereof, that is to say, the sum at which it shal' be
reckoned in payment of the duties hereby imjiosed.

' J

31 Vict.

, Bill of
lon paper
at of'Hucli

ps of the
)on wliicli
wor, or in
(ia of the
integral
(jis far a»
istrumoiil
•eon used,
Br insti'u-

10 time of
lich it is
en a£5xcd

;, nor an}'
t indorser
)r written
3trument,
wilfullj
all incur

10 direct
of such
opor, and
lies form-
e on each
10 sum at
id by this

t stamps
md boar-
defray
part of
mp shall
shar be

1867.

Promissori/ Notes, SfC

Cap. 9.

7« Provided, that as regards any J'roniisHory Note, Draft or Dill As to duty
of Exchange on which the duly is payftltio in Nova Sootiu, the 1^11'^^ gcotia.
amount on which the duty is payulilo under Ihis Act, and thoainounl
of such duty, shall bo reckoned iii the currency of that Province,
and the btampcd pajtor and stanijis to be used there shall be marked
accordingly, and simll not he used in any other ])art of Canada.

S. The Minister of Inland Ilevoiuie may apjioint any Postmasters, Salo and dis-
Collectors of Inland Pevenue, or other offlc-ors of tJie (Jovernmont, '[a,^nps'"nj
to be the distributors of stamps and stamped paper, undo, this Act, -tampod pnpor
and may authorize any other person to jtuirhaso stanijis I'rom such
distributors to sell again ; — and the Governor in Council may lixthe
remuneration to bo allowed to such distrilmtors, and the discount to
bo made to persons so purchasing to sell again ; but such discount
bhall in no case exceed five per cent, on the value of such stamps,
and shall not be allowed on any quantity less than one hundred
dollars worth.

O. The (Jovernor in Council may make such further regulations Governor in
as ho may deem necessary for carrying this Act into effect, and may mak"" further
by any order in Council declare that any kind or class of instru- regulations,
ments as to which doubts may arise, are or aro not chargeable with for doubtful
any and what duty under this Act according to the true moaning cases.
thereof; and any order in Council made under this Act may be
explained, amended or repealed by any other such order of later
date ; and any order in Council under this Act shall bo published,
and may bo ])roved in the manner j)rovided by the Act respecting
the Customs as to orders in Council under that Act.

lO. The stamji or stamps required to ]>ay the duty liereby By whom tho

imposed shall in the case of any Promis.sory Note, Draft or Bill of * g^aiHxod.'^'

Exchange made or drawn within Canada, and not made upon jjapor

stamped to the amount of the duty, bo affixed by the maker or drawer

thereof, and in tlie case of any Draft or Bill of Exchange drawn

out of Canada, by the acceptor thereof or the first indorser thereof

in Canada ; and such maker or drawer, acceptor or first indorser, ?''°''\'7 ^",
' 'J ' default and

failing to affix such stamp or stamps at the time of making, drawing, duty doubled,
accepting or indorsing such Note, Di-aft or Bill, or affixing stamps of
insufficient amount .shall thereby incur a penalty hereinafter imposed,
and the duty payable on such instrument, or the duty by which
the stamps affixed fall short of the proper amount, shall be doubled ;
stamps upon the paper being deemed to be affixed thereto for all the
purposes of this Act ; and any deficiency in the amount of the stamp
on the paper may be made up by adhesive stamps.

11.

Cap. 9.

Promt ssor If NotcK, Sf'C.

81 Vict.

il'"

i »•

1 1 '-'

Penalty fur
not allixinx (ho
|>rupcr itainjis.

Exception In
favor of Bul)»o-

3ucnt |iai'tioa ;
oublo duty
to be |iaiJ.

Presumption
in suits for
lienaltios.

Provision in
favor of inno-
cent parties.

Holder may
])ay duty
without
becoming
a party.

11. ^'W any i)orMon in C'anudu makos, di-awM, necopts, indorses,
sif,'iiH, lic'C'oincs a ]mrty to or jiayn any jn'Oinissory note, draft, or
liill of oxohnn^o, cliargoaMo wilh duty under this Act, lioforo the
duty (or d()ul)lo duly as the case ma}' bo) has boon ]>aid by !iflixiii<r
Ihcroto thu ])ro])or Ntami» or stamps, suoh porsouMhiill tboroby incur
a penalty of ono liundrod (lollar.s, and save only in caso of tlio ]iay-
raont of double duty as lioroiuuflcr mentioned, huqU instrument nlinll
be invalid and of no cfTeot in law or in equity, and the acceptance,
or ])aymont or ])rotost thereof ^hall be of nootfect; except that a.
HubsoipuMit jiarly to such instrunient or ])erson j)ayini,' the same, may
at the time of his so paying or becoming ft ])arty thereto, pay such
double duty by aflixing to siudi instrument a stamp or stamps to the
amount thereof, or to the amount of doublo the sum by Avhich the
Btamps aflixed fail shoi't oi' ihc projicr duty, and by writing his
signature or ])art thereof, or his initials or the ])roj)er date, i>n such
stamp or stam])s, in the manner and for the j)urposcs mentioned in
the fourth section of this Act ; and Hiich instrument shidl hereby
become valiil, hut no jii'ior ])arty who ought to have paid the duty
thereon shall be released from the penalty by him incurred as afore-
said ; and in suing for any such penalty, the fact that no part of the
signature of the part}- charged with neglecting to aflBx the jiroper
stam]) or stamps is written over the stamp or stamps affixed to any
instrument, or that no date, or a da<o that does not correspond with
the time when the duty ought tu havo b(>cii paid, is written or
marked on the stamji or stamjis, shall be primri facie evidence that
such party did not affix it or thorn as required l»y this Act.

13* *No party to or holder of any Promissory Note, Draft, or
Bill of Exchange, shall incur any jienalt}' bj' reason of the duty
thereon not having been paid at the proper time and b}' the proper
party or parties, provided that at the time it came into his hands it
hai affixed to it stamps to the amount of the duty a])]iarcntly pay-
able npon it, that ho had no knowledge that thejMvero not affixed at
the proper time and by the ])ropor ])arty or i)artics, and that he pays
the double duty or additional duty as soon as he acquires such know-
ledge, — ani any holder of such instrument may pay the duty thereon,
and give it validity, undei section cloven of this Act, Avithout becom-
ing a party thereto; — in this section the word "duty" includes any
double or additional duly payable under the said section eleven.

13.

•Tlicse sections (11 nnd 12) are repealed, and others substituted therefor by ."JS
Vict., cap. 13 (seep. 80).

Section 12, so substituted, is again repealed, and another section enacted in its
stead by 37 Vict., cap. 47, sec. 3 (see p. 83).

11 Mi/;

31 ViOT.

is, indorses,
to, draft, or
lioforo tlio
by nffixiiip:
cM'ohy incur
of llio jtay-
iincnt slinll
iccwptancc,
|)t Hint ft.
Humo, may
», ])ay Bucli
mips to tlio
which tlic
vritin^f liis
to, on Hiich
ntionod ill
mil lioreby
I llio duty
od as aforo-
part of the
llio ]»roj)cr
xcd to any
^pond with
written or
loiK'o tliat
I.

, Draft, or
' tlio dut}'
J) roper
hands it
ntly pay-
affixed at
it he jiaj's
icli know-
tlieroon,
lit I)ocom-
iuiics any
even.

13.

■cfoT by 33
ictcd in ita

1867.

Promissory Notes, <^r.

Cap. 9.

13* If any person wilfully affixes to any promiHsory note, draft Penuit.v for
(ir bill of exchan^'o, any stamp whieli has been i)rovioiisly affixed to ^[.J^^",^
any other, or used for the jiurpose of paying' any duty under this alromly im.vI.
A«t or ftiiy other Act, or which has heon in any way previously
written upon or defaced, nuch person Hhnll bo guilty of a jiiisdo-
laoanor, niid shall thoroby incur a penalty of five hundred dollars.

14. The iienaltios lioreinboforo imiJOHod shall bo incurred in I'omilty in-

■ /. , , . , n. I .11 « I Cllri'Ccl nil OlU'h

respect ol caci; such promissory note, draft or bill of exclian,LCO, on indtrum ni,
which the duty or doiiblo dutv hereby imposed is not paid as jifore- 'lit>i>8i|:t'v.Tiii

•^ _ ^ J 1 I bomiiilu on tlio

said, or to which u stamp pie/iously used has heen fraudulently »amo day, Ac.

affixed, whatever bo the number of such ii -trumonts executed,

accepted, jiaid or delivered, or otr«ncos committed on the same day;

and a separate })enalty to the full amount shall bo incurred by each

l)erson committing such oflenco, whatever bo the number of sucli

persons.

ISit The ])enalties imposed by the foregoing sections of this Act, Recovery of
f«hall be recoverable in the manner jiroscribed by the Interjirotation '""'" "''^"
Act in cases whoro penalties arc imposed and tlio recovery is not
otherwise })rovided for.

lO. If any person forges, counterfeits or imitates or pi'ocurcs to punishmont
be forged, counterfeited or imitated, any stamp or stamj)od jnipcr, <"•"■ furgins
issued or authorized to bo used for the purposes of this Act, or by niiikini^'or
moans whereof any duty hereby imposed may bo ]taid, or any part |n^,^fj.'i^f„g„,,
or ])ortion of any such stamp, — or knowingly uses, offers, sells or furfvrjjlii^.
exposes to sale, any such forged, counterfeited or imitated stamp, —
or engraves, cuts, sinks or makes any plate, die or other thing
whereby to make or imitate such stam]) or any jiart or j '"•tion
thereof, except by jiermission of tlie Minister of Inland Hcvenuo, or
some officer or person who, under an Order in Council in that
behalf, may lawfully grant such })crmissioii — or has possession of
any such plate, die or other thing, without such jiermission, — or
without such per nission, uses or has possession of any such plato,
die or thing I- .fully engraved, cut or made, — or tears ofY or.
removes from any instrument, on wliicli a duty is payable under
this Act, any stamj» by which such duty has been wholly or in part
j)aid, — or removes from any such stamp an}' writing or m irk indi-
dating that it has been used for or towards the jiayment of any such
duty, — such person shall be guilty of felony, and shall on conviction
bo li. able to be imprisoned in the Penitentiary for any torm not
exceeding twonty-ono years; and every such oi^'once in tlid'rovinco ^,^
of Quebec or in the ]'rovinco ot Ontario, shall be forgoiy within the withi. . j
meaning and purview of chapter uinoty-four of the Con.solidalcd ['o'f^rgen' !'^ "^

Statutes

Cap. 9, 13.

Promissory Notes, Sfc

31,33 Vict.

.; :k

StatutcB of Canada, intituled An Act respecting Forgery, and all tho
provisions of that Act shall apply to every such oftence, andto prin-
cipals in the second degree and accessories, as if such offence were
expressly mentioned in the said Act, and in any other of the Pro-
vinces composing the Dominion of Canada every such offence shall
be forgery and punishable in the manner in which that crime is
punishable by the laws of the Province in which the offence is
eommitteu.

Duties to be V7» The duties imposed by this Act shall bo duties within the
within the meaning and purview of the Act passed in the present Session inti-
tuled An Act respecting the Collection and Management of the Eevenue,
the Auditing of Public Accounts, and the Liability of Public Accountants,
and the proceeds of the said duties shall form part of the Consoli-
dated Revenue Fund of this Province.

No duty under
certain Cana-
dian Acts, on
notes, &o.
mads, &c.,
on or after
Ut February,
1808.

Ap'.s to apply
to notes, A'c.
made before
that day.

IH. No duty shall be payable under the Act of the Legislature
of the late Province of Canada, passed in the Session held in the
twenty-seventh and twenty-eighth years of Her Majesty's reign,
ehajilcr four, or under the Act of the said Legislature, passed in the
twenty-ninth year of Her Majesty's reign, chapter four, on any pro-
missory note, draft or bill of exchange made, drawn or accepted,
upon or after the said fir.st day of February, one thousand eight
hundred and sixty-eight, but to till promissory notes, drafts or bills
of exchange made, drawn or accepted in the late Province of
Canada, or in the Provinces of Quebec or Ontario, before the said
day, and to all offences committed and penalties incurred in respect
thereof, the said Acts shall continue to apply.

Preamble.

CAP. XIII.

An Act to amend the Act imposing Duties on Promissory
Notes and Bills of Exchange.*

[Assented to 12th May, 1870.]

WHEREAS, it is expedient to repeal Sections Eleven and Twelve
of the Act passed in the thirty-first year of Her Majesty's
reign, chapter nine ; Therefore Her Majesty, by and with the advice
and consent of the Senate and House of Commons of Canada, enacts
as follows : —

♦Amended by 37 Viot., cap. 47, (page S3.)

1870.

Promissory Notes, 8f<:.

Cap. l:J.

welvc
ijesty's
advice
enacts

iiiul 12
rcpcaloi.'

Penalty for
not iifiixinij
tho proper
stiiiiip.s at tho
propor time.

Presumption
iu suits fur
penalty.

Exception in
favor of inno-
cent parties.

1. Tlie sui'l HccUons 'firo hcrehy ropoalerl, !Ui<l tlio followliii;'
soclioiia >uli.--(i luted tlierefoi-:

"II. If any per.son in Canada malcis, draw.-^, acocl)t^(, indiirse-,
Kitjns, becctmcs a party to, or pays any Promissovy Xoto, Draft, or
Bill of Exchange, chargeable with duty under this Act, before the
duty (or double duty, as the case may bo) has been paid, by affixing
thereto the proper sta^np or stamps, such person shal>1 thereby incur
a penalty of one hundred dollars, and, save only in the case of pay-
ment of double duty, as in the next section provided, such instrument
shall be invalid and of no effect in law or in equity, and the accept-
ance, or payment, or protest thereof, shall be of no efl'ect : and in
suing for any such ])enalty, the fact that ii) p:ui of the signature of
the partj' charged with noglecting>' to ailix the proper stamp or
stamps, is written over the stamp or stamps atTixcd (o any such
instrument, or that no date, or a date that does not correspond with
the time when the duty ought to have been paid, is written or
marked on tiie stamp or stam])s, shall be jirimii facie evidence that
such party did not affix it or them, as required by this Act : But no
party to, or holder of any such instrument, shall incur any penalty
by rea.son of the duty theroon not having been ]iaid at the proper
time, and by the proper parly or parties, provided at the time it
came into his Iiands it had aflixed to it stamps to the amount of tho
dut}' a])])arently payalile upon it, that he had no knowledge that
they were not affixed at the proper lime and by the proper party or
parties, and that he pays the double or additional duty as in tho
next section provided, a-i soon as he acquires such knowledge."

"12. =^Any sub.-oquont party to such iiusirument, or por.son pay- Conditions on
ing the same, or any holder without becoming a party thereto, may i^nocen"party
pay double duty by allixing to such instrument a stamp or stamps shall become
to the amount thereof, or to the amount of double tho sum by which penalty or"
tho stamps affixed fall short of the proper duty, and by writing his forfeiture.
signature, or jiart thereof, or his initials, or the proper date, on such
stamp or stamps, in the manner and for the purpo.ses mentioned iu
tho Fourth Section of this Act : and when upon " o trial of any
issue, or on any legal inquiry, tho validity of any I'romissory Note,
Draft or Bill of Exchange is questione I by reason of the proper duty
thereon not having been paid, or not having been paid by the proper i

party, or at tho proper time, and it appears that the holder thereof,
when ho became holdoi*, had no knowledge that the proper duty had
not been paid by tho proper party, or at the proper time, such instru-
ment

^Repealed, and another seotiun substituted therefor by .^tT Vict., cap. 47, sec. 2 (se*
G

Caps. 13, 10.

rromissory Notes, SfC.

33, 35 Vict.

ife

i ■:

f "

If part of the
duty was not
paid through
inadvorteccc,

PendinR suits
excepted.

Preamble.

When stich
Notes shall
mature.

ment shall, novortholcss, bo held to bo legal and valid, if it shall
appear that the holder thereof paid double duty as in this section
mentioned, so soon as such holder acquired such knowledge, or if
the holder thereof, acquiring such knowledge at the trial or inquirj',
do thereupon forthwith pay such double duty; or if the validity of
such Promi.ssory Note, Draft or Bill of Exchange is questioned by
reason of a part only of the requisite duty thereon having been paid
at the proper time or by the proper party, and it appears to the
satisfaction of the Court or Judge, a.«i the case may be, that it was
through mere inadvertence or mistake, and without any intention to
violate tho law on the part of tho holder, that the whole amount of
duty, or double duty, as the case may be, was not paid at the proper
time, or by the proper party, such instrument, and any endorsement
or transfer thereof, shall, nevertlfoloss, be held legal and valid, if the
holder shall, before action brought, have paid double duty thereon,
as in this section mentioned, as soon as lie reasonably could, after
having became aware of such error or mistake ; but no parly, who
ought to have paid duty thereon, shall be released from the penalty
by him incurred as aforesaid,"

2. This Act shall not apply to any suit pending when it comes
into force.

CAP. X.

An Act relating to Bills of Exchange and Promissory

Notes.

[A.sscnted to \Uh Jane, 1812.

WHEllEAS doubts exist ka to thotime of the maturity of a Bill
of Exchange or Promissory Note payable at a month or
months after date, and it is desirable to set such doubts at rest:
Therefore Iler Majesty, by and with the advice and consent of the
Senate and House of Commons of Canada declares and enacts as
follows : —

1. Every Bill of Exchange or Promissory Note which is made

payable at a month, or months, from and after tho date thereof,

becomes due and payable on the samo numbered day of tho month

in which it is made payable, as tho day on which it is dated, uiiles.s

there is no such day in the month in which it is made payable, and

in such case it becomes duo and payable on tho last day of that

month, with the addition in all cases of the days of grace tUlowed

by law.

CHAP.

5 Vict.

■ it shall

9 section
3go, or if
• inquiiy,
vlidity of
ionod by
)eon paid
[■8 to tho
at it was
en t ion to
mount of

10 proper
orscment
lid, if the

thereon,
uld, after
irly, who
e penalty

it comes

missory

1872.

of a Bill

lonth or

at rest :

t of the

)nacts as

is made

tlicroof,

month

d, unless

iblo, and

,' oJ' that

allowed

CHAP.

1874.

Bills and Notes.

CHAP. 47.

Chap. 47.

An Act to amend the Law relating to Bills of Exchange
and Promissory Notes, and the Stamps thereon.

[Assented to 26th May, 1874.

WHEREAS it is desirable that tho law relating to Bills of Preamble.
Exchange and Promissory Notes should be amended in the
j)articular3 in this Act mentioned : Therefore Ilor Majesty, by and
with the advice and consent of the Senate and House of Commons
of Canada, enacts as follows : —

1* Notice of the protest or dishonor of any bill of exchange or Notice of pro-
promissory note -payable in Canada, shall be suflSciontly given, if bii['o*note'
addressed, in due time, to any party to such bill or note, entitled to when held to
such notice, at the place at which such bill or note is dated unless gfven. "'*" ^
any such party has, under his signature, on such bill or note,
designated another place, when such notice shall be sufficiently
given, if addressed to him, in due time, at such other place ; and
such notice so addressed shall bo sufficient, although the ])lace of
residence of such party be other than either of such before men-
tioned places. ^

3« Section twelve substituted by the Act passed in the thirty- Section 12 of

•'no \T n 10

third year of Her Majesty's reign, chapter thirteen, for section repealed,
twelve of the Act passed in tho thirty-first year of Her Majesty's
reign, chapter nine, shall be and is hercbj' repealed, and the follow-
ing section is substituted for the said section so repealed : —

" 12. Any holder of such instrument may pay double duty by
affixing to such instrument a stamp or stamps to the amount thereof,
or to the amount of double the sum by which the stamps affixed
fall short of tho proper duty, and by writing his initials on such
stamp or stamps, and the date on which they were affixed ; and where
in any suitor proceeding in law or equity, tho validity of any such
instrument is questioned by reason of the proper duty thereon not
having been paid at all, or not paid by tho proper party, or at the
proper time, or of any formality as to the date or erasure of tho
stamps affixed having been omitted, or a wrong date placed there-
on, and it appears that tho holder thereof, when ho became such
holder, had no knowledge of such defects, such instrument shall be
held to be legal and valid, if it shall appear that the holder thereof
paid double duty, as in this section mentioned, so soon as he acquired
such knowledge, even although such knowledge shall liave been ac-
quired only during such suit or proceeding; and if it sliall appear

New section
Bubstituted.

Innocent
holder of un-
stamped or
insufficiently
stamped note,
&o., may maktt
it valid by
payment of
double duty,

if!

Chap. 47.

Bills and Notes.

37 Vict.

Penalty and
forfeiture on
bank or broker
making, buy-
ing or taking,
&o., note not
duly stamped
after 1st Aug.,
1874.

31 V. c. 1».

No Dominion
stamps re-
quired on bill
of exchange
drawn and
payable out-
side the
Dominion.

Interpreta-
tion.

Couimenoo-
ment of A3t.

in any such .suit or proceeding to the .■satisfaction of the court or
Judge, as tho case may I)e, that it \va.s through mere error or mis-
tako, and without any intention to violate tho Law on the part of
the hokler, that any such defect as aforesaid existed in relation to
such instrument, then such instrument, or any endorsement or
transfer thereof, shall bo held legal and valid, if the holder shall pay
tho double duty thereon as soon as ho is aware of such error or mis-
take ; but no party who ought to have paid duty thereon shall bo
released from tho penalty by him iiicun'ed as aforesaid."'

3* Notwithstanding anj'thing in the Acts before mentioned or
in this Act, from and after tho first day of August next, after tho
passing of this Act, any bank or any brokei- who makes, draws or
issues or negotiate.-^, presents for payment, or pays, or takes, or
receives, or becomes the holder of any instrument not duly stamped,
either as a dejiosit, or in payment, or as a securit}', or for collection
or otherwise, knowing tho same not to be duly stamped, and who does
not immediately on making, drawing, issuing, negotiating or pre-
senting for payment, or paying, or taking or receiving, or becoming
the holder of :<nch instrument, affix thereto and cancel the proper
stamps within tho moaning of tho Act thirty-first Tictoria, chapter
nine, shall incur a penalty of five hundred dollars for every such
offence; and shall not be entitled to recover on such instrumeat, or
to make the same available for any purpose whatever, and any such
instrument fihall be invalid and of no otroct in law or equity.

4. Notwithstanding anything in the Acts bel(jre mentioned or in
this Act contained, no bill of exchange drawn and payable outsido
of the Dominion of Canada shall be invalid, nor shall the maker or
any owner or holder of any such bill bo subject to any penalty in
consequence of no stamp or stamps of this Dominion being affixed
to such bill.

5« In this Act the word " Bank " moani and includes any char-
tered bank, and any banking institution, and any branch or agency
thereof.

The word "Broker" moans and includes any broker or person by
repute doing the business of brokerage.

Tho word " Instrument " means and includes any promissory
note, bill of exf^hangc, or part thereof, draft or order, upon which a
duty is payable ande- th«' Act thirty-first Victoria, chapter nine.

0* This Act shall only go into force from and after the first day
of August next.

CHAP.

37 Vict.

c court or
II" or mis-
he part of
elation to
3mont or
• Bhall pay
'or or mis-
. shall be

tionoJ or
after the
draws or
takes, or
stamped,
collection
who does
g or pre-
becoming
le proper
I, chapter
,'cry such
imeat, oi-
any such

ned or in
3 outside
maker or
malty in
\g affixed

my char-
r agency

lorson by

1875.

Bills and Notes.

CHAP. 19.

Chiip. 19.

An Act to amend the Law relating to Bills of Exchange.

lAssentcd to 8th April, 1875.]

W^^-n^'^/r ' 'f ''''^''''''' '^'' *'^' '"^" '•^^^^'".^' ^'^ ^^^^^Se^ on preamble
Bills of Exchange shall bo uniform throughout the Dominion •

Therefore Her Majesty, by and Avith the advice and consent of the

benate and House of Commons of Canada, enacts as follows :-

1. From and after the first day of July next after the p.assing of No damages
tins Act, no damages shall be recoverable in any action, suit or nro- T ^'"^ P^^"
ceedmg, either at law or in equity, brought in any Province of the SnaJTaor
Dominion, upon any Bill of Exchange, drawn upon any person at .^'f ""'^-
any place in the Dominion or in the Island of Newtbundland a-ainst '
any p.arty thereto, except for the amount for which such Bill of
Exchange IS drawn, and for such further amounts as arise from the
noting and protest of sr :h Bill of Exchange, and interest thereon
and exchange and re-exchange thereon. '

2. From and after the first day of July next after the passing of Damages o„
this Act, no damages shall be recoverable in any action, suit or nro H'"^ P'*^'^'''''
ceeding. either at law or in equity, brought in any Province of the "«£"
Dominion, upon any Bill of Exchange drawn upon any person .at
any place not being in the Dominion nor in the Island of Newfound-
land against any party thereto, except for the amount for which ^

such Bill of Exchange is drawn and for two and one-half per cent
thereon, and for such further amounts as arise from the noting and
protest of such Bill of Exchange and interest thereon, and exchange
and re-exchange thereon. ^

' oscepted.

>mi8Sory
which a

nine.

first day
CHAP.

) .

CRIMINAL

iii;

ill'

f>i

Cap. 19.

Forgert/.

CRIMINAL LAW.

32-33 Vict.

Forging bank
notus, bill:,

having
bank note^
ice.

Extracts from an Act respecting Forgery, 32 and 33^
Vict. (18G9), Cap. 19.

As to forging bank notes.

1»>. "Whosoever forges, or alters, or offers, utters, disposes of, or
puts ofY, knowing the same to he forged or altered, any note or bill
of exchange of any body corporate, company or person carrying on
the business of bankers, commonly called a bank note, a bank bill of
exchange, or a bank post bill, or any endorsement on or assignment
of any bank note, bank bill of exchange, or bank post bill, with
intent to defraud, is guilty of felony, and shall bo liable to bo impri-
soned in the Penitentiary for life, or for any term not less than two
3'ears, or to bo imprisoned la any other gaol or place of confinement
for any term less than tvo years, with or without hard labor, and
with or witdiout solitary confinement.

Purchasing or 16. Whosoover, without lawful authority or excuse (the proof
receiving or ^ whereof shall lie on the party accused), purchases or receives from
any other person, or has in his custody or possession any forged
bank note, bank bill of exchange, or bank post bill, or blank bank
note, blank bank bill of exchange, or blank bank jwst bill, knowing
the same to bo forged, is guilty of felony, and shall be liable to b©
imprisoned in the Penitentiary for any terra not exceeding fourteen
years and not less than two years, or to be imprisoned in any other
gaol or place of confinement for any term loss than two years, with
or without hard labor.

^45 to making paper and engraving plates, d-c., for bank mtes, drc.

IT. Whosoever, without lawful authority or excuse (the proof
whereof shall lie on the party accused), makes or uses, or knowingly
has in his custody or possession, any frame, mould or instrument for
the making of paper used for Dominion or Provincial notes, or for
bank notes with any words used in such notes, or any part of such
words intended to resemble or pass for the same, visible in the sub-
stance of the paper, or fbr the making of paper with curved or
waving bar lines, or with the laying wire lines thereof in a waving
or curved shajic, or with any number, sum or amount expressed in
a word or words in letters, visible in the substance of the paper, or
with any device or distinction peculiar to and appearing in the
substance of the paper used for such notes, respectively, or makes,
uses, sells, exposes to sale, utters or disposes of, or knowingly has in

Making or
having moulds
for making
paper with
words Ufied
for Dominion
notes, bank
notes, tic., or
selling such
paper.

1869.

Forg-n-)/.

Cap. 10.

hi.s custody or possession any paper wliatsnovcr with any wonl-i
used in Hucli noto-J, or any part of sucli word's InteMdod to rosiMuhlo
and pass for tiio Haiuo, visiblo in the snI)stanco of t!ie pa]ier, or any
l)apcr with curved or waving bar linos, or with tlio In3-in!j; wire
lines thoroof in a waving oronrvo 1 shape, or with any nnmlier, sum
or amount expressed in a word or words in l(>ttcrs. a[ipearing visi-
ble in the substaneo of tho paper, or with any device or distinction
peculiar to and appoaring in the subslance of tho paper usod for any
such notes respectively, or by any art or contrivance causes an}'
such words or any part of ^uch words, intended to resomblo and
pass for tho same, or any device or distinction ])ecuiiar to and
appearing in the substance of the paper used for any such notes,
respectively, to appear visible in the sub>tance of any paper, or
causes tho numerical sum or am unit of any such note, in a word or
words in letters, to appea vi 'iole in the substance of the paper,
whcroon tho same is written or printed, is guilt}' of felony, and
shall bo liable to bo imprisonc 1 in the Penitentiary for any term
not exceeding fourteen years and not less than two years, or to be
imprisoned in any other gaol or place of conlinement forjiny term
less than two years, with or without bard labor.

IS, Nothing in the last preceding section contained shall prevent Proviso as to
any person from issuing any bill of exchango or promis.sory note biiFg''of*e*-
having tho amount thereof expressed in a numerical figure or figures cii.ingo, Ac.
denoting tho amount thereof in jwunds or dollars, appearing visible
in tho substance of the paper upon which tho same is written or
printed, nor shall prevent any person from maktng, using or selling
any paper having waving or curved linos, or any other devices in
tho nature of watermarks visible in tho substance of tho paper, not
being bar lines or laying wire lines, provided tho same are not so
contrived as to form tho groundwork or texture of tho paper, or to
resemble the waving or curved laying wire lines, or bar lines, or the
watermarks of the paper used fop Dominion notes or Provincial
notes, or bank notes, as aforesaid.

11>. Whosoever, without lawful authority or excuse (tho proof
whereof shall lie on tho party accused), engraves, or in anywise
makes upon any plate whatsoever, or upon any wood, stone, or other
material, any promissory note, or part of a promissory note, purport-
ini; to be a Dominion or Provincial note or bank note, or to be a blank
Dominion or Provincial note or bank note, or to bo apart of any Domi-
nion or Provincial note or bank note as aforesaid, or any name, word
or character, resembling, or apparently intended to resemble, any
subscription to any such Dominion or Provincial note or bank
note, as aforesaid, or use any suoh plate, wood, stone or other

material,

Engraving or
having any
plate, 4c., for
making
Dominion or
I'rovinoial
notes or notea
of any bt-.k.or
having suoh
plate, or utter-
ing or having
paper upon
which a blank
bank note, Sio.,
may be
printed.

w, n

■I

Cap. 19.

Forgery.

n2-33 Vict.

Engraving on
a plato, A:c.,
any word,
number, or
device, rc-
^^cmbling part
of a Dominion
or Provincial
or bank LOtc,
or using or
having any
sucli ]i^atc,
Ac, or utter-
ing or having
any paper on
which any
.■<uch word,&c.,
is impressed.

Making or
having mould
for making
paper with
the name of
any bank, or
having such
paper.

material, or any other inHtruinonl orclovico I'o; the makiui^or print-
ing of any such note, or part of such note, or knowingly has in his
custody' or posso.s.sion an3'" such plato, wood, Htono, or other material,
or any .such instrument or device, or knowingly oilers, utters, disposes
of, or j)uts oH", or has in his custody or possession any ]:aper upon
which any blank Dominion or Provinei.d note or Bank note, or
part of any such note, or any name, woi-d or character resembling,
or apparently intended to resemble, any such subscription, is made
or j)rintctl, is gudty of felony, and f-hali bo liable to l)e im[)risoned
in the Penitentiary for any term not exceeding fourteen years and
not less than two years, or to be imprisoned in any other gaol or
place of confinement for any term less than two years, with or
without hard labour, and with or without solitary confinement.

20« Whosoever, without lawful authority or excuse (the pi'oof
whereof shall lie on the party accused), engraves or in anywise
makes upon any plate whatsoever, or upon any wood, stone, or other
material, any word, number, figure, device, character or ornament,
the impression taken from which resembles, or is apparcntlj' intended
to resemble any part of a Dominion or Provincial note or bank
note, or uses, or knowingly has in his custody or possession any
such i^lato, wood, stone, or other material, or any other instrument
or device for the impressing or making upon any paper or other
material, any word, numljer, figure, character or ornament, which
resembles, or is aj^parently intended to resemble any part of any
sudi note, as aforesaid, or oilers, utters, disposes of or puts off, or
has in his custody or possession any paper or other material upon
which there is an impression of any such matter aforesaid, is guilty
of felony, and shall be liable to bo imprisoned in the Pen i tent iarj'
for any term not exceeding fourteen years and not less than two
years, or to be imprisoned in any other gaol or place of confinement
for any term less than two years, with or without hard labour, and
with or without solitary confinement. *

31. Whosoever, without lawful authority or oxcuso (the proof
whereof shall lie on the party accused), makes or uses any frame,
mould, or instrument for the manufacture of paper with the name
or firm of any bank or body corporate, company or person carrying
on the business of bankers appearing visible, in the substance of
the paper, or knowingly has in his custody or possession, any such
frame, mould or instrument, or makes, uses, sells, or exposes to sale,
utters or disposes of, or knowingly has in his custody or possession,
any papar in the substance of which the name or firm of any such
bank, body corporate, company or person appears visible, or by any
art or contri'-unce causes the name or fii*m of any such bank, body

corporate,

18G0.

Forgery.

Cap. 19.

)ur, and

[e proof

frame,

le name

larrying

lanco of

iiy such

I to sale,

Isossion,

[y such

I by any

k body

rporate,

corporate, company, or person to appear vlsihle in Iho substance of
the p!i])cr upon wliich (lie same is written or printed, is guilty of
felony, and sliuU bo liable to lie imprisoned in the Penitentiary for
any term not oxcooding fourteen years, and not less than two years,
or to bo imprisoned in any other gaol or place of confinement for
any term less than two years, with or without hard labour, and
with or without solitary confinement.

22. Whosoever forges or alters, or offers, utters, disposes of or Engravinp;
])Uts olT, knowing the same to be forged or altered, any bill of foreign biii.x
exchange, promissory note, undertaking or order for payment of °''.""'"'^' '""
mono}', in whatever language or languages the same may bo having such
expressed, and whether the same is or is not under seal, purporting {J^'^fng papg,
to bu the bill, note, undertaking or order of any foreign ju'ince or on which any
state, or of any minister or officer in the service of any foreign ^Ix or note
prince or state, or of any body corporate or body of the like '^ printed,
nature constituted or recognized by any foreign prince or state, or
of any jierson or company of persons resilient in any country not
under the dominion of Iler Majesty, or whosoever, without lawful
authority or excuse (the proof whereof shall lie on the party
accused), engraves or in anywise makes upon any plate whatever,
or upon any Avood, stone (u* other material, any bill of exchange,
promissory note, undertaking, or order for payment of money, or
any part of any bill of exchange, promissory note, undertaking or
order for payment of money, in whatsoever language the same may
bo expressed, and whether the same is or is not, or is or is not
intended to be, under seal, purporting to bo the bill, note, under-
taking or order, or part of the bill, note, undertaking or order
of any foreign prince or state, or of any minister or officer in the
service of any foreign prince or state, or of any body corporate,
or body of the like nature, constituted or recognized by any
foreign prince or state, or of any person or company of persons
resident in any country not under the Dominion of Her Majesty, or
uses or knowingly has in his custody or possession any plate, stone,
wood, or other material, upon which any such foreign bill, note,
undertaking, or order, or any part thereof, is engraved or made, or
knowingly offers, utters, disposes of, or puts off, or has in his cus-
tody or possession, any paper upon which any part of such foreign
bill, note, undertaking or order is made, or printed, is guilty of
felony, and shall bo liable to bo imprisoned in the Penitentiary for
any term not exceeding fourteen years and not less than two years,
or to bo imprisoned in any other gaol or place of confinement for
any term less than two years, with or without hard labor, and with
.or without solitary confinement.

Extracts

li: ii

,; :'

Cap. 21.

Larceny, <^c.

32-33 Vict

Extracts from an Act respecting Larceny and other
similar oflences. 32-3;J Vic. (lS(i;»), Cap. 21.

Agent, banker,
.Vf., oinbezzl-
ind money (ir
cellin)? socuri-
I'os, Ac.,
intrusted tu
bira.

Or goods, it(?.,
intrusted to
bim for safe
custody.

Punishment.

Not to apply
to trustees or
mortgagees.

^l,s to frauds hij aijenls, hankers, or factors,

TO. Wlibsoovor, luivin^ been inlnistcd, either solely, or jointly
with any other per.son, tw u banker, merchant, attorney or otlior
a^^ent, with any money or payment for the security of money, with
any direction in wrilin/^, to apjily, pay or ileliver such money or
security or any part thereof respectively, or the prococls or ivny
part of the proceeds of such security for any purpose, or to any
person speciticd in sii(;h direction, »:i violation of ^ood faith, and
contrary to the terms of such direction, in anywise converts to his
own use or bonetit, or the use or benefit of any person other than
the person by whom ho has been so intrusted, such money, security,
or proceeds, or any part thereof rcspoctively, and whosoever having
been intrusted, either solely or jointly with any other person, as a
banker, merchant, broker, attorney, or other agent, with any chattel
or valuable security, or any power of attorney for the sale or transfer
of any share or interest in any public stock or fund, whether of the
United Kingdom, or any part thereof, or of this Dominion of Canada,
or any province thereof, or of any British colony or possession, or of
any Ibreign state, or in any stock Oi* fund of any body coriiorato,
company or society, for safe custody or for any special purpose
without any authority to sell, negi)ciate, transfer or pledge, in vio-
lation of good faith, and contrary to the objector purpose for which
such chattel, security, or power of attorney has been intrusted to
him, sells, negociates, transfers, pledges, or in any manner converts
to his own use or benefit, or the use or bcnetit of any person other
than the person by whom he lias been so intrusted, such chattel, or
security, or the proceeds of the same, or any part thereof, or the
share or interest in the stock or fund to which such power of attor-
ney relates, or any part thereof, is gulty of a raisdomeanor, and
shall be liable to be imprisoned in the Penitentiary for any term
not exceeding seven years and not less than two years, or to be
imprisoned in any other gaol or place of confinement for any term
less than two years, with or without hard labor, and with or with-
out solitary confinement; but nothing in this section contained
relating to agents shall aftcct any trustee in or under any
instrument whatsoever, or any mortgagee of any property real or
personal, in respect to any Act done by such trustee or mortgagee
in relation to the pro])erty comprised in or aliected by any such
trust or mortgage; nor shall restrain any banker, merchani, broker,

attorney

18G0.

Larcenj/, iS'r.

Cap. 21.

()

ther

altornoy or other a^'oiit IVom roccivini^ any motioy lUio or to Nor to
boi'omo actually duo an<l i)ayal)lo upon or hy virtue of any v;iluublo rm'iivi"!f " '

KCiMirity, accord ini; to tlio tenor and elVect, thereof, in sucli manner imincy .luo on

1 ' • 1 1 1 • . 1 • . II I 1 sooiirities ;

as he mi^lit have done it this Act liail not l)een passed; nor Ironi

selling, traiiMfervin,!^, or otherwise dispoHin;^ of any securities or Or diKposinit
oft'octs in his possession, upon wliicii ho has any lien, claim, oi* ,,„ wliidi thoy
demand, entitlinif him hy law so to do, unless such sale, transfer or ^^""^ " ''"'>•
other disposal extends to a greater number or part of such securi-
ties or ollects than are ro(iuisile for satisfying such lion, claim or
demand.

77» Whosoever, being a banker, merchant, broker, attorney, or iJanltors, &c.,
agent, and being intrusted, either solely, or jointly with any other gXIn*"!^.^,
person, with the proi)crty of any other person for safe custody, with iiroporty

■ . , ^ , r , 11 ., , n II intrustoJ to

intent to defraud, sells, negociates, transfers, ))!edges, or in any their oaw.
other nMnner converts or appropriates the same or part thereof, to
or for his own use or benefit, or the use or benefit of any person
other than the person by whom ho was so intrusted, is guilty of a
misdemeanor, and shall bo liable to any of the punishments which
the Court may award as hereinbefore last mentioned.

7S. Whosoever, being intrusted, either solely or jointly with an}' Persons under
other person, with any power of attorney, for the sale or transfer of Ji^'^rno^*
any property, fraudulently sells or transfers, or otherwise converts iraiiduiontiy
the same or any part thereof to his own uto or benefit, or the use or poflyf '"^°
benefit of any person other than the person by whom he was so
intrusted, is guilty of a misdemeanor, and shall be liable to any of
the punishments which the Court may award as hereinbefore last
mentioned.

79« Whosoever, being a factor or agent intrusted, either solely or Factors
jointly with any other person, for the purpose of sale or otherwise, t)btaining
with the possession of any goods, or of any document of title to tho property
goods, contrary to or without the authority of his principal in that ^f '^i^" ''"'*'
behalf, for his own uso or benefit, or the use or benefitof any person
other than the person by whom ho was so intrusted, and in viola-
tion of good faith, makes any consignment, deposit, transfer or
delivery of any goods or document of title so intrusted to him as in
this section before mentioned, as and by way of a pledge, lien or
security for any money or valuable security, borrowed or received
by such factor or agent at or before the time of making such con-
signment, deposit, transfer or delivery, or intended to be ihcreafter
borrowed or received, or contrary to, or without such authority, for
bis own use or benefit, or the use or benefit of anypenson other than . .•

the person by whom ho was so intrusted, and in violation of goott

faith,

^»

//,

^/.

"<"V^

IMAGE EVALUATION
TEST TARGET (MT-3)

1.0

Ui 12.2

I.I

1.25 i 1.4

2.0

1.6

;«

Cap. 21.

Larceny, Sfc.

32-33 Vict.

faith, accepts any julvtince of any money or valuable Hocurity on tl)e
faith of any contract or agreement to consign, deposit, transfer or
delivery of any such goods or document of title, is guilty of a mis-
demeanor, and shall bo liable to any of the punishments which the
Clerks wufuily Court may award as hereinbefore last mentioned ; and every clerk
assisting. Qj. otiier person who knowingly and wilfully acts and assists in
making any such consignment, deposit, transfer or delivery, or in
accepting or procuring such advance as aforesaid, is guilty of a
misdemeanor, and shall be liable to any of the same punishments ;
Proviso, as to Provided that no such factor or agent shall be liable to any prose-
yThen "tbo"'*"' cution for consigning, depositing, transferring or delivering anj*
liiedgo does j^uch goods Or documents of title, in case the same are not made a

not exceed the 7 „ 1-^,^1 . r, , n

amount of security for, or subject to the payment of any greater sum 01 money
their hen. than tho amount, which at the time of such consignment, deposit,
transfer, or delivery, was justly duo and owing to such agent from
his principal, together with the amount of any bill of exchange
drawn by or on account of such principal, and accepted by such
factor or agent.

IIP

Definitions of
tsrius :

'• Intrusted."

" Pledse."

" Possessed."

■" Loan or
Advance."

■" C :ntract or
Agreement."

SO. Any factor or agent intrusted as aforesaid, and possessed of
any such document of title, whether derived immediately from the
owner of such goods, or obtained by reason of such factor or agent
having been intrusted with t'.ie possession of tho goods, or of any
other document of title thereto, shall bo deemed to have been
intrusted with the possession of the goods represented by such
document of title; and every contract pledging or giving a lien
upon such document of title as aforesaid, shall be deemed to be a
pledge of and lien upon the goods to which tho same relates ; and
such factor or agent shall be deemed to be possessed of such goods
or document, whether the same are in his actual custody or held by
any other person subject to his control, or for him, or on his behalf;
u.id where any loan or advance is bond fide made to any factor
or agent intrusted Avith and in possession of any such goods
or document of title, on the ftiith of any contract or agreement
in writing to consign, deposit, transfer or deliver such goods
or document of title, and such goods or document of title is or are
actually received by the person making such loan or advance, with-
out notice that such factor or agent was not authorized to make
such pledge or security, every such loan or advance shall be deemed
to be a loan or advance on the security of such goods or document
of title, within tho meaning of the last preceding section, though
such goods or document of title are not actually received by the
person making such loan or advance till a jieriod subsequent there-
to ; and any contract or agreement whether made direct with

such

1869

Larceny, Sfc.

Cap. 21.

8uch factor or agent, or with any clerk or other person on his behalf,

nhall be deemed a contract or agreement with such factor or agent ;

and any payment made, whether by money 'or bill of exchange or

other negotiable security, shall be deemed to bo an advance within

the meaning of the last preceding section ; and a ftictor or agent in "Advance."

possession, as a'lbresaid, of such goods or document, shall be taken for possession to

the purpose of the last preceding section, to have been intrusted there- be evidence ot

with by the owner thereof, unless the contrary be shown in evidence.

intrustiag.

Trustees
fraudulently
dispoiiing of
property
guilty of a
misdcn'.ciinor.

such
a lien
) be a
and
goods
;ld by
half;
factor
oods
ent
oods
are
with-
make
omed
ment
ough
the
here-
with
such

No prosecu-
tion shall be
commenced
without the
sanction of
some judge or
the Attorney
Geaoial.

51. Whosoever, being a trustee of any property for the use or
benefit, either wholly or partially, of some other person, or for any
public or charitable jmrposo, with intent to defraud, converts or
appropriutes the same or any part thereof to or for Ids own use or
benefit, or the use or benefit of any person other than such jjerson
as aforesaid, or for any purpose other than such public or charitable
purpose as aforesaid or otherwise disposes of or destroys such pro-
perty or any part thereof, is guilty of a misdemeanor, and shall be
liable to any of the punishments which the Court may award as
hereinbefore last mentioned ; Provided that no proceeding or
prosecution for any offence included in this section shall be com-
menced without the sanction of the Attoi-ney General, or Solicitor
General for that Province in which tlie same is to be instituted ;
Provided also, that when any civil proceeding has been taken against
any person to whom the provisions of this section may apply, no
person who has taken such civil proceeding shall commence any
prosecution un«ler this section without the sanction of the Court or
Judge before whom such civil proceeding has been had or is
pending.

52. Whosoever, being a director, member, manager or public Directors ic,
officer of any body corporate or public company, fraudulently "f *"y '""^y
takes or applies for his own use or benefit, or for any use or pur- public com-
poses other than the use or purposes of such body corporate or [""|y fraudu-
public company, any of the property of such body corporate or priating pro-
public company, is guilty of a misdemeanor, and shall bo liable to E*"'^*

any of the punishments which the Court may award as hereinbe-
fore last .nentioned.

53. Whosoever, being a director, member, or manager or public or fraudulent-
officer of any body corporate or public company, as such receives Jy keeping

or possesses himself of any of the property of such body corporate u.- •^■coks.
or public company, otherwise than in payment of a just debt or
demand, and with intent to defraud, omits to make, or to cause or
direct to be made, a full and true entry thereof in the books and
accounts of such body corporate or public company, is guilty of a

misdemeanor,

»■

«4

Cap. 21.

Larceny, S^c.

32-33 Vict.

Or wilfully
destroying or
falsifying
booka or
papers, &o.

Or fraudulent-
ly ])ublisliing
false state-
ments or
accounts.

No person to
be exempt
from answer-
ing questions
in any court ;
but no person
making a dis-
closure in any
compulsory
proceeding to
be liable to
prosecution.

No remedy at
law or in
equity to be
affected.

misdomoanor, and shall bo liable to any of 'lo punishments which
the Court may award as hereinbefore last mentioned.

84. Whosoever, being a director, manager, public officer or
member of any body corporate or public company, with intent to
defraud, destroys, alters, mutilates or falsifies any book, paper,
writing or valuable securit}'- belonging to the body corporate or
public company, or makes or concurs in the making of any false
entry, or omits, or concurs in omitting any material particular in
anj book of account or document, is guilty of a misdemeanor, and
shall bo liable to any of the punishments which the Court may
award as hereinbefore last mentioned.

85. Whosoever, being a director, manager, or public officer or
member of any body corporate, or public company, makes, circu-
lates, 01' publishes, or concurs in making, circulating or publishing
any written statement or account which he knows to be false in any
material particular, with intent to deceive or defraud any member,
shareholder, or creditor of such coi'porate or public company, or
with intent to induce any person to become a shareholder or partner
therein, or to intrust or advance any property to such body cor-
porate or public company, or to enter 'nto any security for the
benefit thereof, is gu'lty of a misdemeanor, and shall be liable to
any of the punishmenvs which the Court may award as hereinbefore
last mentioned.

86. Nothing in any of the last ten preceding sections of this Act
contained shall enable or entitle any person to refuse to make a full
and complete discovery by answer to any bill in equity, or to answer
any question or interrogatory in any civil proceeding in any Court,
or upon the hearing of any matter in bankruptcy or insolvency ;
and no pei'son shall be liable to be convicted of any of the misde-
meanors in the said sections mentioned by anj' evidence whatever,
in respect of any act done by him, if, at any time previously to his
being charged with such offence, ho has first disclosed such act on
oath, in consequence of any compulsory process of any Court of
law or equity, in any action, suit or proceeding, bond fide instituted
by any party aggrieved, or if he has first disclosed the same in any
compulsory examination or deposition before any Court, iijion the
hearing of any matter in bankruptcy or insolvency.

87. Nothing in the last eleven preceding sections of this Act
contained, nor any proceeding, conviction or judgment to be had
or taken thereon against any person under any of the said sections
shall prevent, lessen, or impeach any remedy at law or in equity,

which

1869.

Larceny, Sfc.

Cap. 21.

lis Act
CO a full
answer

Court,
voncy ;

misde-
latovor,
y to his

act on

Court of

stitutcd

in any

pon the

his Act
bo had

Isections

equity,

which

which any party aggrieved by any offence against any of the said
sections might have had if this Act had not becu passed ; but no
conviction of any such offender shall bo received in evidence in
any actior. at law or suit in equity against him; and nothing in Convictions
the said sections contained shall aflFoct or prejudice any agreement received in
•entered into, or security criven by any trustee, having for its object evidence in

J o J ■^ ' f . -^ civil suits.

the restoration or repayment of any trust property misappropriated.

88. If the keeper of any warehouse, or any forwarder, common Keepers of
carrier, agent, clerk, or other person employed ii- or about any ^"'gi'vlng^'
warehouse, or if any other fac tor or agent, or any clerk or other falae receipts,
person employed in or about the business of such factor or agent,
knowingly and wilfully jives to any person a writing purporting to

bo a receipt for, or an acknowledgment of any goods or other
property as having been received in his warehouse, or in the ware-
house in or about which he is employed, or in any other manner
received by him or by the person in or about whose business he is
cmi)loyed, before the goods or other j^roperty named in such receipt
or acknowledgment have been actually delivered to him as afore-
said, Avith intent to mislead, deceive, injure or defraud any person
or persons whomsoever, although such person or persons may be
then unknown, — or if any person knowingly and wilfully accepts or Persons know-
transmits or uses any such false receipt or acknowledgment, the fafg'^recemts
person giving and the person accepting, transmitting or using such
receipt or acknowledgment, are severally guilty of a misdemeanor,
a,nd shall bo liable to be imprisoned in the Penitentiary for any
term not exceeding three j'oars, and not less than two years, or to
bo imprisoned in any other gaol or place of confinement for any
term loss than two years but not loss than one j'car.

89. If any merchandise has, in the namo of the owner or of any Owners selling
other person, been shipped or delivered to the keeper of any ware- ^^'^ advance
house or to any other factor, agent or carrier, to be shipped or

carried, and the consignee afterwards advances any moneys or gives
any negotiable security to such ownci or othor person, then, if after
any such advance the said owner or other person for his own bene-
fit and in violation <^f good faith, and without the consent of such
consignee first had and obtained, makes any disposition oi such
merchandise differeat from and inconsistent with the agreement
made in that behalf between such owner or other person aforesaid
and such consignee at the tirao of or before such money being so
advanced or such negotiable security being so given, with the intent
to deceive, defraud or injure such consignee, the owner or other
person aforcbaid, and each and eveiy other person knowingly and
wilfully acting and assisting in making such disposition for the

purpose

Cap. 21

Larceny, SfC

32-33 Vict.

ifii; '

I! ^IBH'

Jlillor.i, fac-
tors, A'c,
giving recei])ts
for goodf, nnd
nut delivering
the snmo
accordingly.

purpose of deceiving, defrauding or injuring (sucli consignee, is or

are guilty of a misdemeanor, and shall bo liaMo to be imi>rifoned in

the Penitentiary for any term no exceeding three years, and not

less than two years, or to ho imprisoned in any otiier gaol or i»laco

of confinement for any term less than two years but not less than

Proviso : if qj^^ year; but no person shall bo subject to prosecution under this
consignees ^ ^ i ^ .> i

advances be scction, wlio had, beforo making a disposition of the morchandiso
'^"' ■ aforesaid, paid or tendered to the consignee the full amount of any

advance made thereon.

OO. Any miller, warehouseman, factor, agent, or other person,
who, after having given, or after any clerk or person in his employ
has to his knowledge given, as having been received by him, in any
mill, warehouse, vessel, cove, or other j^lace, any receipt, certiticato
or acknowledgment, for grain, timber, or other goods or property,
which can bo used for any of the puryioses menlioned in the Act
l)asj-ed in the thirty-first year of Iler Majesty's reign, and intituled
" An Act respecting Banks," or any jierson, who, after having
obtained any such receipt, certificate, or acknowledgment, and after
having endorsed or assigned it to any bank, or person, afterwards
and without the consent of the holder, or endorsee in writing, or the
production and delivery of the leceipt, certificate, or acknowledg-
ment, wilfully alienates, or parts with, or docs not deliver to such
holder, or endorsee, of such receipt, certificate, or acknowledgment,
the grain, timber, goods, or property- therein mentioned, is guilty of
a misdemeanor, and shall bo liable to be imprisoned in the Peniten-
tiary for any term not exceeding three years, or in any other gaol
or place of confinement for any term less than two years, but not
less than one year ; Provided that nothing in this section shall
prevent the oftendcr from being indicted and punished for larceny,
instead of misdemeanor, if, as being a bailee, his offence amounts to
larceny.

As topartners. 01« If any offoncc in the last three ])receding sections mentioned
be committed by the doing of any thing in the name of any firm,
company or copartnership of persons, the person by whom such
thing is actualh' done, or who connives at the doing thereof, shall
be deemed guilty of the offence, and not any other person.

02. No misdemeanor against any of the sixteen last preceding-
sections of this Act shall bo prosecuted or tried at any Court of
General or Quarter Sessions of the Peace ; and if upon the trial of
any person under any of the said sections, it appears that the ofienco
proved amounts to larceny, he shall not 'y reason thereof be entitled
to bo acquitted of a misdemeanor undor the said sections.

Proviso.

Certain inis-
dcnieanora not
triable at
.Sefi^ions.

LIST

OF Sr-\TUT£S PASSED SINCE CONFEDERATION \KFECTING
OR CREATING BANK CHARTERS.

* Figures markea with a star refer to 2nd vulumes of th

e Siiatutei,

laving

Albion Mines Savings Bauk, Act rcspectias

t>ank of Acadia, incorporated --....

" Agriculture, "

" Hamilton, "
Liverpool, "

" Manitoba,

" Manitoba, Charter amended - - '

" New Brunswick, ' "

" Nova Scoti I, reduction of Capital - . . ' .

" Nova Scotia, Act respecting - - . .

" Ottawa, incorporated - .

'• St. John, " ...."'""

" Toronto, Charter amended - - . . ' .

" The United Provinces— see London and Canada - - .

• VPPerCanada, Act for settlement of affairs of
Upper Canada, Act concerning -

Han(iue d'Hochelaga, incorporated - . . .

" d'Hochelaga, Charter amenflei; - . . .
" de St. Hyacinthe, incorporatei -

du Peuple, Act concerning ...

'• de St. Jean, incorporated

" de St. Jean-Bapti.ste, "

'it vn nr •" . Act amended. - - - . .

Ville Mane, incorporated -
Bedford District Bank «... ' ' " "

Canadian Bank ofCommerce, Act respecting - -.".'.'

fVnfroi Bo^i riT », and GoieBank, AmalgarniUion of -

Central Bank ofNew Brunswick, Act relating to ....

" of Canada, incorporated ....

Chartered Bank of London and North America, incorporated -
City Bank, Charter amended - . ...

t^^^ " ■ i^S'* ?°y^J Canadian Bank, amalgamated '-".'.
Commercial Bank of Canada, Act respecting

of confirmed - - . *""* Merchants Bank, Amalgamation

Bank of New Brunswick, Act relating to '.'.'.".
Consolidated Bank of Canada, incorporated . - .
Dominion Bank, incorporated -

Exchange Bank of Canada, incorporated -...''
Federal Bank of Canada, name of Superior Bank changed to

_ _ , " Act respecting

Gore Bank, Charter amended .

H iv" n fP^'K^'^atJ'^" of, with Canadian Bank of Commerce -
Halifax Banking Company, incorporated ....
Imperial Bank, incorporated

" Charter amended

" Amalgamation with Niagara District Bank .

YEAR.

vie.

CAP

1874

1872

1868

1872

I87I

1872

1874

1869

32-33

1871

1874

5«

1872

1869

32-33

1875*

1867

1870

■ 1871

1873

1874

1873

1870

.33

1873

1875

1876*

1872

1871

1869

32-33

1870

1872

1873

1876*

1869

32-33

1876*

1867

1868

1871

1876*

1869

32-33

1872

1873

1874

1869

^2-33

54-

1870

42*

1872

1873

1874

1875*

3«

.II-

LIST, kc.—Cunthiued

m n

London and Cimada Bank, iricoiporatrd

" name chant,'ud to Bank of tho United Pro-

vinces ....---.-..

London and Canada Bank, Act amended

ManutacturerH' Bank ot Canada, (f'oimeily Victoria Bank)

Maritime Bank of the Dominion of Canada, incorporated

iMeclianics Bank, Act resni'ctin;^ " * " "

Mercliants Bank and CV nimercial Baid<, Amalf^aniation of confirmed -

Merchants Bank of Hal faz, incor|)orated

" Act incorporating amended ...

Metropolitan Bank, incorporated

Niagara District Bank, Acts relating to amended

" Amalgamation with Imperial Bank of Canada.

( )ntirio Bank, Charter amended

" Act to amend and explain the Charter of -

" Charter amended - • ......

Pictou Bank, incorporated

Quebec Bank, Charter amended

Uoyal Canadian Bank, Charter amended, provision made for amalgama-
tion with another Bank, or for winding np -

Itoyal Canadian Bank and ('ity Bank, amalgamated . - - .

Stadacona Bank, incorporated ---

St. Lawrence Bank, incorporated - - - ■ ' -

" name changed

Standard Bank (formerly St. Lawrence Bank), A( t re8j)ecting

^ uperior Bunk of Canada, incorporated

" name changed

Three Rivers Bank, incorporated - .....

Toronto Savings Bank, Act respecting

Union Bank of Lower Canada, Charter amended ....

Victoria Bank of Canada, incorporated -

" name changed to Manufacturers Bank of
Canada .•--.-

VVest'Tn Bank, incorporated .,....,.

YKAR.

Vie.

CAP

1874

1875*

«0

187(i'

187-t

1872

1876'

■n

18(18

18(i9

32-33

1870

1871

1868

1875

1860

32-33

1871

1874

t'3

1873

1860

32-33

1869

32-33

1876«

1873

1872

1876'

1876*

1872

1873

1872

1869

32-33

1873

1874

1871

Ir.

VIO.

CAP

5f>

«0

:h7

4:^

32-33

5it

32-33

t'3

32-33

CONTENTS.

BANKS AND BANKING.

All Avl to Limblcd Bunks ia any Dart of f'nn„,i. i . ''*'•'■•

Dominion instead of u.in/nj;^;;',,^; ?';; /^"- "oU.s of the
Vn ^.t to_r.move certain restrictions with res^et tJ tl^ ils.^ .^

Blink Notes In Nova Scotia - .

Banking . . . '" '"'""""^^ '^''^Pt't'ting Banks an.i

'" 1:iJL;'ni:r"^''" 'r)'"'' ^^^'^^^ "^ ^^ Inso.vent-In;o;

AllK.

^KAIt.

VIC.

CAf

18CH

4»;

!HV()

1871

:{4

1872

■US

1873

187£

1870

3i» ;u

1871
1871
1872
1873

3-j
34
35
36

SAVINGS liANKS.

An Act to provide .•ulditional facilities Cor .lenosifin , < • ''•'*"•■• ^"^^

interest, with the seourifv of th..rL, 'IcpoMting .Savings at
and redemption of Domfnion'No!:.^ """'"'' ""' '"'" ^'^''' ^««"^'
" 1:^aQS^Z '^'^^''^'" «--^« ^-''- - the P;o;in;es;f 6nt;rio ''

'" ^^:^::^^a^^^S!t -''''^ ^-'^^^ --- '" '"^ "

INTEREST AND USURY IN NEW BRUNSWICK AND

NOVA SCOTIA.

^"^t^r'r'?^.''r"^ -"• ^-^' '" «- I'^ovmce of Xova'""

PROMISSORY N0TE,3 AND BILLS OF EXCHANGE.

Bills of San'-c . ^ "^' '^"'''''' °" l''-«'"i««ory Notes at<l

VIC. VAV.

iUE

YKAlt.

vie.

CAF

1873

3ti

1875

missory Notes and Es^isSh^^^^ °^ ^-^-"- """
An Act to amend the Law relating to Bills

an(' {'ro-

of Excliange

A(;r':
71

VEAIl.

1867

VIC.
31

CAI

«0
82

1870

1872

33
35

13
10

1874
Ift7.'i

37
38

47
19

CRIMINAL LAW.

Extracts from an Act respecting Forgery -
Extracts from an Act respecting I.nnenv e

VAW.. YKAH. VIC.

, ^, " 86 1869 32-33

nd other similar alfairs. 90 1869 '12-33 2 J

CAP.

DIGEST.

WgeM of Sj.. , iai, Bank Acts

I'AGE.

97-98

llMi,

^*s;l

1 N I) K X

ACTS liKl'KALKIi,— :fl Vic, Ollp. I I— lull liall V

:i:{

Ai>MiNisTRATioNS — liidpiniiificil lor pnj'iiiiJ instiilineiiln cliic on uliiirci

ArJKNT.s— Fnind.s liy

A(iKNC'iKs AND Hhaxciiks, — Haiik mny (ipcii throiijrhont Canftdn
Annual CJenkral Mkktinu, — Stutenu'iit to bo laid lj"lort'

What it must show
See Atertinys.
AssroNKKS, — To be appointed on suspension of bank
" To have powers of Directors to make ealls

Sen lusdlfciit Hanks.

Hallot, — Voting of Shnreh(.lders to be by

" " at annual meeting to be by .

liANKS, — May surrender power to issue iu)fes, and how .
Surrender not to extend over twelve months
" Compensation for such surrender ....

Rights on renewal of charter not impaired
■' Which have surrendered power of issue need not hold certain securities

" Must make weekly returns of redemption

May resume power to issue notes .....

What notice necessary

" Shall cease to receive compensaticui ....

" Must receive back public securities

.And hold them as required by charter
" In Novii Scotia restrictions as to notes removed .

" Charter of certain, continued as to their incorponition
" As to the amount of capital stock

'■ As to the amount of each share ....

What shall form charters of certain, after July l.-'H|

To what :M v.. 0. f) applies ......

Matters to be provided for in special nct.'^- — capital stock, share.--, iianu', chif

office

Where may open branches

Capital stock of, may be increased ....
" ilow increase to be ell'ected .....

To be allotted

Ctmditions previous to commencing business .

Not to declare dividend to impair capital

Part of reserves of, fo be Dominion Votes

What, shall be exempt fmui tax , ....

Not Ljand to see to trusts

Power of, to hold real estate for occupation

Uusinesa of, defined

Power of, to take mortgages as additional security .
May purchase lands mortgaged to it, il' sold under execution
" obtain absolute title to lands .....
.' " sell lands, in exercise of power of s/ilo .

" acquire and hold warehouse receipts, bill.? of lading, specifications, <tc

as collateral security

Lien of, on goods so held ........

May sell goods in default of payment of debt ....

Conditions necessary to such lien and rights

■when warehouseumn is himself owner of goods .
■' Receipt for hogs to apply to pork made therefrom

Lien of, in what cases prior to unpaid vendor ....
" rann:U hold lumber longer than twelve months, except by written consent
Conditions of dale — notices — must be by public auction .

10
33

'Mi
M

)"
'Jt>

:t
:i
:<
'(
4
4
4
4
4
4
I
S»
»
»
•J
10
10

10
10
10
10
10

11
11
la

13
Ih

«{

•24
M
34
24

ST.

->5

iir>

26
26
26
2(i
27

102

UankH :

Ihuii luiiibi'i, loiiis'i' tliitx MX iiioiitlis.

I i .11

lilii

iirity

iliscdiiiiti.iir biuik

'' (!itiiniit iit)l<l f.'niiii.-> or ^imhI.-, uI

except by consent .........

" Conditions of riiile — nofice.s

" Not to loan or (lisfount on security (lit heir own stock

" t,'iinnot (leiil in tiieir own Htock ......

" K.xeept ■when necossiiry to renlizo Cor ftilvnnros .

•' Hut hiiH liiji thereon, nnd on dividends lor overdue delits

" Mny sell such ^tock, ])roceihire. nolice,-i, trinisrerot'

.Vtiiy liold stock ot'otiier hunks, Itonds, d(d)enturcs, Ac, uscollntcrnl sc
How inny lie sold .......

•' •' " •• l>y nintunl njrrcenicnl ....

'• Not iidlde to penalty I'or usury ......

•' May take nnd recover seven per centum

" An^ not nioro .........

'• May all4>\v any ra»o of interest on dnpo.siis ....

" May charfTc certain rates of ])reniiiini wiicn noti- is (lis(M)untod olsowherc

liian where payalthi .....

" Or where paynhh' el^ewhero tlian at In'oncii o

" ilond^, (d)lif:atioiis, &c. o(. Ijy whom to lie sijrned

" Uow assiiiiialdo ........

'• Ofticer may be dej)Uted to si<rn

•' Innoiv(Micy of

Suspension of. for ninety days operates 'fcituve of charter .
Assijrnces to lie appointed ......

See hisitlmil /idiil.s.
" tin conimaiuUlr, on suspension of, ])artners at on. e lial)h'

And continue liable as provided hy charter
Alone to issue notes lor circulalion ......

To be suliject to uny general windinp: up act ....

'• bank act

llow, not in schedule of :!1 v.. c- ;'> nay come under act

Charters of certain, ccmtinue d . '

May receive dei)osits from minors ......

And pay such deposits to the deposiu.rs ....

Proviso ns to amount to be so jiaid .....

B.VNK OK British Noktii Amkric.v,— Certain sections of ;i.) v.,c. ."), to ajiply tc
" " " " error as to, amended

B.VNK OF Nov.v ScoTi.v,— Capital of may be reduced

Banquk PL" I'KUPLK. — Certain sectitms of M v.. c. .'>, to apply to

FJ.\NKERS,— Frauds by .

Hank Notks — Powers of Governor in Council, as to redemptiim and re-issue <
" Not to exceed unimi)aired cajiital .....

" No, for less than !;«4 to be is.'-ued or rc-issued .

" Uedemption <d'

" .May bo sijrned by macdiinery

" Puiii.<hmeut for forj:iujr. &v

" " " purchasinfr. receivini or havinfrforpred

" markiufT iiapi-r. or enirravinjr plates for

" Exceptions as to paper tor hills or notes .

Hil,i,s OK Exi'ii.\Xf;E.— Drawn and payalile out of Cnnada. not to reqiiire stam
No damnfres on, ])ayahle in Canada or Ne\vfo\indland
yj per c;'nt damages on. payable elsewhere
Bonds, — Provision.^ as to sale of, held for a<lvances .....
By Laws,— Matters that may be regulated by ....

" Proviso as to existing

CAtts, — How enforced by act ion

" If not paid stock may be forfeited

" Procedure for enforcement of .......

" Amour i and intervals of ........

" Uow, are enforcen by forfeiture of Stock ....

" Forfeiture may bo remitted

" On shareholders, on suspension of Bank .....

Capital, — Amount which must be subscribed before conim.enciug busiuess

" What amo'int to be paid up

" If any, lost, calls to be made

" Loss of, to be mentioned in next return ....

" F 'ofits to be applied to make good h).ss of ....

t'AUI

27
4st
4»
47

•>7
'i7
','7

:{7
m

:io
:<i
:<:s;
:m
:(4
:w
■Mi
:{7
:j7
:w
:i(i

•Mi

:{.'■>
:fr.
!»-^

4
11
II
II

>iy

'.Ml-; 11

Hi
84

rtf)

iy.-2i

lii
'ii

'22
31

11
11
11
11
11

I'AOt.

V7
^7
«7
4'^
4W

'J7

a7
a7

:i7

•28

88
■29
'29

:«>
:ui
:to

:iO
:)i

•SA

:i4

M
'MS
:i7

:w
:«>
:«5
nf)
:{r.

11
II
11

*21t

H()
8ti

r!7
84

\\f
18
1D.-21
•21.-2-2
'21
'2-2
•2-2
'2-2
•22
31
. 11
11
11
11
11

IKi-'M

I'k.kinithins,— or

I>K(

iiiiii

'ON ITS,

1(1^
CuKTiriCATK:

:s;;;;!;i^::?;?]ir':^J!;;r^.;;r' »'-"• "'•'^- -" n...,i

OllARTKHS-Ortani. r.MMti„i..Ml l,v:i| vc.-. ■ ■ • • •

hl";Vr;::::/'^:r!'^;''''''n;yi"^rini.Him..n,s .,„„;.. ■ . • •

' ..hmIs «-,in's mill in.Mvhiiiuli/,. '<imi,.,

MHMlis' ••Hi„lv..r, iVsinri • • ■

■./""'''""'••" "1 *-"•■• " |H.^M.-.s..,l." ••).,,,., ■..•Mdvai).'.,.

.«('.■ Ilunk.r '■ "*•"' "■"'•'■ "'"' " -^'"^ •""•'■■ . '."'

" ''""■""•I '" «hnl, |iprH..nK irav hoiwiij ' " ' ' •

., Animal oicctioii of . . '■■•••

,, iJiscmiiits to . '■■■•••

I»IKKCTORS.-.n()ar(l <)(

u '^'''''' 'J''"'''riil l'«>ni ()rimtiini]izM('uiil)i,.f.t. ■ ' " ' •

*♦ 'i<!n and ' ncre eloctisd ' " " •

To bo oiected by ballot . ' ' " " • •

Vdcimcins anioiip, how lillod ' ' ' ' " '

.Non.filliiip of vacanciort not to vitiate acts of ' ' " " "
Kloe ion o President and Vice-President Iron, nnioiu'
Must continiio to h<.!d requisite amount of stock
I roviHion in case. .rCuiJure of election of ' ' ' •

"/"itconstitutcrt quorum of ' " ■ •

Who to presidfi at ineetinf:^ of .''■"• -
Casting vote at meetinjrs of ' ' " •

May n.akeby.Jaw.s for certain purposes " ' ' •

Appoint olBcers ... • •

.. ,, ^'^rtain of whom must give seeuritv ' ' ' '

Have power to make calls . . ' ' ' " •

And to enforce same '.ly action ' ' " "

•; Maytp^^Tilisrl^r''^'^'^'"^--''"-'-^-"' ■ ■ ■ ■ ■ •

Punishment of. for frandulently n,.propri^atin J.lropert' '"""

Or wilfully destroying or fulsilVinc books

l),v,0K^M..--^^,, to impair capUal "'.'"' •^''"''''''""^'■'''^'^•^''^'^'"'•''^^ • " ■ '
].' Penalty for excess . "■"■•■

ila| be made payable lu United Kingdom '""exists

And notice theieof . ^ ' • • • •

Liable for overdue debts of owner

I«^,^''i,n'"''V"'H'-"'^"f^'""^''"c''i' notes redeemed ' '

Ab to their redemption and re-idsue "^-ujeu .

hums to be used for redemption of ' ' ' "

"''amrntof^' '"^ '^"^ ^"^ cliire^ence " between specie and

Commissioners to ascertain amount of, issued

and specie and debentures held ' " "

t" nia.co return under oath ' ' ' '

u rctnnx to be published ' ' ' "

.. ,, form of oath . " " •

1 roceeds of, to be part of consolidated fund of Canada
Or Provincial notes, punishment for forging "

«' .. ',', '', for having plates of . ' . '

\\ Arraugcmentsforsupplving " ''""^ ' ' ' '

Dominion STor. fi,„^fi'''"'''f"r i8™e and redemption of . " . '

uummot, bTOCK,— five per cent, authorized . . ^ " •

Paum.
II
\n

:ii;
71
14

\n-\)'.\

38
19
19
19
19
«0
'20

•20

'20

!2I

'21

-21

-i\

'21

:.M

:2I

'21

'i^i

•23

3-2

t»3

114

1-2

14
3
ft
fi
6
6

7
7
7

f.l

104

Ef,KCTiOH :

KLKCTioNj—Ktiilure in, «)f «ffi(^(!rsiW)t to (1is8(ilve corporation . ; . .

Embkzzlkmknt,— Of bonds, <fec , a felrry - .

" How puniHhal I'j

ExKCDTORS, -Indemnified for paying instalments due on ....

Factors, — Frauds by

F.vLsK Kkckipts, — Punishment for giving ......

" and for persons knowingly using

Form ok Monthly return,— By 'M V. C. 5, amended and new form given

" Further amended

FoROiNr, — Notes puuishmrint for

Frauds, — J5y agents, ban! s or factors

" By owners of goods after advance by consignees ....

Grains, — Provisi(ms of 34 v, c. 5 extended to cereal

Halifax Banking Company, — Issue of notes of, to 1874

Uoos, — Receipt for, to apply to pork made therefrom

" Provisions of 34 v., c. 5, extended to, when converted into hams and bacon .

Holidays, — In matters relating to notes

Insolvency of Bank,-

Insolvknt Banks, — Act for winding up

" When alone, writ of attachment or assignment may be made .

" Judge may adjourn proceedings for writ ....

" And order preliminary enquiry and report ....

" Not to carry on business . '

" Appointment and powers of Receiver and Assignee

'* N oiice to note holders — dividend on outstanding notes

" Action under sec. 147 and appeal under sec. 128

Interest .\nd usury,— In Nova Scotia

** In New Brunswick

Landed Credit,- Companies, returns of (repealed)

Limitation OF iiME, — For holding lumber in pledge

" " " other godds and merchandize

M.vLT,— Provisions of 34 V., c 5, extended to . . . . .

Mketinos, — Special general now called

" if President, Vice-President or Director be removed at .

" /lnnw«?gicnerni, how and where called

" who may vote at

" Voting at, to be by ballot

" Proxies may vote at

" Only shareholders may act as proxies at

" Case of equality of votes at ........

Misdemeanors,— Punishment of

Mould, — Punishment for making or having mould for making paper with name of
bank, company or person carryiugon business as bankers, or for having

such paper

Notes,— Chartered banks only to issue

" What shall be deemed

" Punishment for engraving, making, having in possession or uttering forged

• Dominion, Provincial or Bank

" Or for engraving any part of, or having or using any forged plate, or having
any paper «in which any part of such notes is impressed

Notices,- How, under 34 V., c. 5, shall be given

Office, — Place of chief office to be declared in Act of Incorporation .

Officers, — Certain, of Bank must give security

" Giving undue preference, guilty of misdemeanor and liable for damages

Partner, — Doing certain wrongful acts, alone deemed guilty

President,- How removed at special general meeting

" How replaced

" Election of

Proxies, — See Annual General Meeliny — Shareholders.

Provincial Notes, — See Dominion l\utcs.

Profits, — To be applied to make good loss of capital ...

Procedure, — To ettect forfeiture of stock

" " " sale of lumber, goods or grain held in pledge .

■' " " " " stock for debt of owner ......

Promissory Notes and Bills of Exoha?-<je,—

" " Not usurious by reasLU of interest taken by banks .

" " By reason of interest allowed l)y one party to another .

PAtfie.
!Sil
31
31
14

90-91-9-.i
9r,
05
4U
42
886

9i)-91-92
95
38
33

39
30
43
43
43
43
44
44
44
44
72
73
68
26
27
38
19
19

20
20
20
33

88
33
33

H7-88
33
10
21
31
33
19
19
20

20,
22
26
27

:J7

' t

PAtfK.

31
14

90-91-92

9r.

95
4()
42
886
90-91-92
95
38
33
S6
38
39
30
43
43
43
43
44
44
44
44
72
73
(58
2(5
27
38
19
19
20
20
20
20
20
20
33

88
33
33

87-88
33
10
21
31
33
19
19
'20

20
22
2«
27

37
37

pBomssonv Notks.

Ids

Intfiesl alldwt'd on .

Hdlidays in matters rolatine to ' " ' ' "

«to;«/j.s.— By whom shall be nfflxc(i " " • '

Penalty in default . " ' *

Duty doubled . . ' ' ' ' •

;; P'^".?''^ fi/r not affixirg proper (Ivpealed) ' . ' .

;; ^^''PPt'on in favor of innocent party repealed "

Presumption in suit for penalty (repealed) "'. . " . " .

Provision !n favor ofinuoceutpalty (repealed)" . ' . '

Incurred on each instrument ' "

itecovery of . . " ' " •

■ ; " ^"^ ^f!"^, '"■ •V'o'^Pr'for miking, taking or u;ine

.1 .. r, ., , unstamped note . »' i; > uMiig

I unishment for forging stamps ' ' "• "

niaking or havinjf instruments for forging

J>utiP. T, "''^'.''^'^'■^^'■^-"''erpretat.oa^ '^ ' ■

vittws,— To be within Revenue Act

^Applicationofcertain Acts to, on notes '

:: :: ""-r,ij.i!;Kir.''S„r„JtS™'"" • -

'« !! "^I^at instruments liable to .

u n ,. „ ", exempt from .

^_ How shall be paid

" cancelled ... ' "

» ff^a't^'eafornon-complianco " ' '

btamped paper may be used .

Or adhesive stamps . '

.. «.„ , ^°^ reckoned in Nova Scotia

Ftamps and stamped paper, sale of

bovernor in Council may make regulations " " *
Pumshmct ./br,-Forging or altering foreign ' '

Oflering, uttering or disposing of f.,-
reign Notes and Bills, knowing
,. them to be forged .

Engraving or having forged plates in
Quebec Savings B.vNKs-Poor fund of P08ses,sion ...

yuKSTio^s,-No person exempt from ^ - - . ,

1. ^"'' ^^^ t" "^ liable to Droseeiifinn

KECEiPTs.-Giving false, a misdemeanor ' ' ' * - •

FaTsSfiS^"°^^"*'"«^'''^«'«»^^^^^^ ■ -■ ■

wi! 1? i!^'^"''^ "'• * ™"^<lemeanor " *

Willullyahenatmg subject of, a misdemeanor' " " " "
I. „ °"'' o«nvering, a misdemeanor ' ' " "

Keceiver,— See lHw/ten< /fffHfo '^utmeauor ....

Keserves,— Part of to be in Dominion Notes

Returns,— Monthly, to be made . '

How attested ' '

S..E OK SToOK,-Bonds.^.. .hen held for advances; may be ^dd ..cording to

Savings BANKS,--WithGovernment'8ecurity.ak respecting ' " " '
Ehtablishment and regulation of, in n. S and N h"
Deposits, how made, entered and proved *^- " "
Report to Minister of Finance ^"'^^'' " ■ ■ •
Report to depositors, and its effect • • - - -
Depositor to give his address, «fec.

ssrSforpS""^"':" ««"»""■ ■'■'■■■

:iu

97
97

78
78
97

;. ■».

81
81

78
79

80
80
r*-i
82
83

75
7«

7ei

76
76
77
77
77
H9

89
71
94
94

;«

32
:52
:J2
:i2

13
12
12

38
46
46
46
46
46
46
46
46

106

SAVIN08 Banks.

I' tf

IiilOTxt on (li'pnsils .......

" added to prineipdl ......

Deposits received from minors and otiier

persoDH not qualified t<i contract ....

" but amount limited to 8">00 ....

• iovernment officers not bound to see to trusts .
JepoaitH in name of more than one ])erson

receipt of one of them sufficient ....

Payments made hona fulc on certain documents to lie valid

(jovernor in Council may make regulations to carry out act, ilicir

efleet

To le published and laid bc'nve Parliameni
A frent and officers to take oath (if office .....

Punishment for alteriiip entries, eniliczzliug money, itc. .

Rut other remedies not effected ......

j'uiiishment of jierson.^ falsely pretending to be owners of dejiosits
Inspectors, may be appointed and removed ....

Their duties

In N. S. and N. I?.. snl)j(!ct to this act .....
St. Johns (y. B.), provisions res])cctiiig .....
As to deposits in N. H. and N. S. on 1st July, lSfi7
IOstal)lishment ol, at Montreal. Toronto, Manitoba, and other plm-es
Manngers to be agents for l>ominion notes ....
Post Uffice act, 18()7, amended as to Savings lianks
Payment of deposits out ot Consolidated Fund

Monthly statement by Auditor General

All parties receiving savings to make returns to Government .

Acts respecting certain in and Q

Con. Stat. Canada. C. 56 repealed

Acts now in force continued for a certain time, «tc.

How the banks ma> continue thereafter ....

Proviso as to transfer of assetts and liabilities ....

Provisions if transferred to Government ....

If transferred to a chartered bank ......

I ( continued under a special charter .....

Capita', petition to Governor, stock-book ....

liurat ion £.nd provisions of charter ....

.N'ame, directors, by-laws .......

General meetings, officers, dividends ....

Insjiectioii of books, loans to directors ....

Hel urns, veal estate, effect of charter ....

Qualllication of directors, votes ......

Transfer of. to the new chartered bauks .....

• .'ailing in stock . . '

Ohligalious of directors in that behalf ....

H CO very of calls by action ......

proof in such cases ........

Liability of stockholders in case of deficiency

Calls in such cases .........

P'ailure to pay such call operates forfeiture of interest
Shareholders, liable for 30 days after transfer ....

Directors guilty of misdemeauor and liable to damages, iu refusing

to make such calls

Assignee, or Keceiver, vested with powers of directors in such

c^ses

Transfers of stock

Hank may reciive deposits and pay ......

Depositors to give name and address .....

Deposits rec( ivable from person otherwise unable to contract

Dut amount limited to $-20(tO

Investment of de|)osita to amount of subscribed capi.al of bank .
May loan to amount of subscribed capital ....

What collateral security may be taken ....
Enforcing payment of loans on collaterals ....
May purchase lands mortgaged to it if sold under execution
May obtain release of equity of redemption or procure foreclosure,

or purcha.se prior mortgage

Paqjc.
47
47

47
47
47
47
47
47

4H
4H
4»
49
4J»
49
rj(»
50
.-»(•
50
.')0
51
51
51
iri

58
53
.53
53
53
54
55
56

57
58
58
58
.'-.8
59
59
59
59
59
60
60
60
HO

60
61
61
61
61
61
61
6'i
6-i

6:t

107

Vaok.
47
47

47
47
47
47
47
47

48
4H
4H
49
49
49
49
50
5U

50
50
51
51
51
&'i
5»
68
53
53
53
53
54
56
56
56
57
57
58
58
58
58
59
59
59
59
69
60
60
60
60

60
61
61
61
6t
61
61

Hkvikob Banks:

to bti ill ^ovi-niimMit

,, May exeruLse pcnvers olViile, Ac

Investments beyond subscribed canital
securities Oimeuded) '-"Vnm

Deposits on call in cimrtered bank allowed
Director becorain"' in^nlront ,,_ i " ^ ,.'

f^'^'dec'laration in foreign counirV ' ' "

.... I^y marriage or decease - • " "

Not bound to see to trusts • ■ ■

One ofsereral joint deposit -,ri may" granireeeint '

^^ -Act of 1871, amended • •

Sui'damUnVDiitt^^^^^^ •'*^ '^^^,i" ^»°''« "^ •™-^'^-
;; Error in French version of 8 18^or^"v \^'>^'^^^^i^,^ "f^urpius

Mav trt' ^r'«^ ^"tramendel ''' '^•." '• '^''"^^*^^ " •
May nvest or loan any amount of deposits ' ' ' '

""wtSrsL"''*''"""'""'''"™'" »"n,.=i;,„»e„H,„;.

>iLn,r„.n..^ T, .S'l^" malie monthly return<j ' ' ■ ■

6KCUu,T,KS-Ba„k may hold certain. iTolfferal" " " " " " •
_ oaie ot . ■•••..

hHABEs.-Amonntofeachsharetobedeclarerlin AnfrVi ' •. •
:; U(,w and where may be paid ^"^ "^ Incorporation

r toL?""" "\"^^ "^^ ''^•'1 -'""" tbirtV days ■.•.•■.-.•

!! Are personal estate .'"■■••--.

Transfers of what necessary to niake valid ■ ' ' " "
No fractional part of, transferable "^ - • - . .

Conditions when sold under execution" " " " " •

L.st.oftra„sfersof.tobemadru^^^^^^^^^^^ •-•-..

And to be open to shareholders •*•■••■

Transmission of otherwise than by transfer ' " "

How proved . nausier ...

flow authenticated if made out" of Canada' " ' • "

By mamage of female shareholder " " " " "

^y decease of shareholder ' ' ■ • ■

n;.. Jf"'"™!^ P'""^'^'"" '"n "uch case ""'■••■

'?st^o^t"^^^•^"™"^•^--''-ppHcat^ . •

May regulate matters by by-laws ' ' ' " ' "
May vote by proxy . ^ ' " " • -

wu\* P®*"^™^ ^'^"""t hold proxies '

w,.fiPT'" "'"'^ ^"te at annual meetinc ' ' ' " '

■ « ™f«|t"re foruon-payment ■"■■••

S„,.. . ^^Sen^oj'" ^"'^ ^^""^^''"•«^" ^^--^ -^hin a month beibre

ninp, see Vessel. ' ■ ■ ■ ■ .

S?S-cI;i;fi ^''"•'■^'""''^""^den'eanor .
arocK.-Capital, how increased and allotti-d . . ' . '

. Pai-k.
fi;5

«:{
lU

()4

t;r>

05
(55

♦if)

67
67
07
07

(W
09
69
69
70

7(t
70

a?
m

14
14
14
14

ir>
ir.

J 5

18
20
20
20
23
3C

38
10

lOA

Stocks i

" Capital of, to bo dt'oliirod in Act of Incorporutioii .

" Must be talten up within a certain time ....

" Sul)scription for and transfer of, In United Kingdom

" Forfeiture of, may be remitted .....

" Liable for overdue debts of o^ner— paid — transfer

•* May l)e sold for overdue debts of owner

" Forfeiture of, if calls on suspension of bank not paid

" Sale of, held for advances, may be provided for by agrepment .

STOCKnoLDKRa. — List of, to be laid before Parliament yearly

Tax. — Certain banks to be exempt from . . .

Tknuer,— Certain provincial notes to be legal

only in N. S. .

Trusts, — Banks not bound to see to

•. >< >< II ti

Trpstkes — Punishment for fraudulently disposing of property .

" Prosecutions against, must be sanctioned by Attorney General or

tor General . . . . . .

Proviso when civil proceedings tnkou ....

L'suRv, — See Interest and Vmry.

" Bank not liable to penalty for

Provisions respecting ........

Not to render innocent party liabe to nenaltv
" " " " " " " loss oi" remedy

Vkndor, — Unpaid, has no lien in certain cases prior to that of Bank .

Vkssel. — How advances on. may be secured

Vice-President,— How removed and replaced at special general meeting

Election of

V'oTES, — Majority of, to decide questions

" Of a tie, Chairman to have casting vote

" " " " at annual general meeting

Wife, See ShatrK. Trammission of.

Solici-

Paqk.
lU
10
14
22
27
27
3U
:ih

i:{

93
9'«

37
37
2»>

:iH

19
20

18
18
20

1 ' I

Paqk.
10
10
14
94
87
97
30
38
IS
13

38
93

93
9ii

9«

19
20

18
18
90