IMAGE EVALUATION TEST TARGET (MT-3) V. / O .v<^. -^ 1.0 I.I 1.25 M 1.8 1.4 il.6 vQ 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.] H 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 ; Li 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. 7. & 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. ' 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. H [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 : — 1. • 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, 9 '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. 10 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. 7! 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. 11 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 f iii I! 12 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. 13 ay 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, 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. I 28 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, 19 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 20 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. 21 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 to Proviso : OlDcora to give Reo'irity. Provisaf as to existing by- laws. by action. :.| on Cap. 5. Banks and Banking. 84 Vict. m m r i case. to Ito forfeited ■ 1; I 84 Vict. 1871. Banks and Hanking. Cap. 5. S8 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 I 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 "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." 1 1 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. 7" ■ t ! 11 11 rl i 1 1 !( I I !^ IV-Vi l.ir 26 Cap. 5. Banks and Banking. 34 Vict. Conditions necessary to such lien and rights. ProTiso. When the warehouse- man, ./ ./ 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 of 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. 2T 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 of 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 shares m \ ' .1! r"! Is: i ' \ 28 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). ', as si ai th .': 01 : B J. til if . ■ ^ 1 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. 29 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. ni m II 1i 80 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. im 11871. Banks and Banking: Cap 5. 81 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, 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. 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 T^ '^1 84 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 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:.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) 85 \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. m I S6 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 (iocidcrclmnts' 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» m i' 11 iU 1872. Banks and Lanhin'';. Cap. 8. 37 !!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 ■ H i 1 1 i i. Ik M I, ^ .H V . I< /fl 88 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 \)']uill ftpply to the Provinces of Ontario, Quebec, Nova Scotia and Now Brunswick only. Preamble. .' < Viet., c. Form of monthly return amended. 6. 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 18 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. 41 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 Wo * 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' 42 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. H ri-eamble. H [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 44 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. rm 1871. Government Snvins^s Banks. Cap. 6. 45 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. 2, CHAP. * Amended by 35 Vic, cap. 9 ([p. 68). 4G Cap. 0. Governmenl SntHne 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. T 1871. Government So 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.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. r 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* . .>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 of 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. 51 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. 3ueljec 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. I f r 64 Cap. 7. Savings Banks, Ontar-o and Quebec. 34 YlCT. m i ! I^i; il . %4 .it! l"J '," '1 - ■ 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 or 5G Cap. 7. Suvitigs Banks, Ontario and Quebrc. 54 Vict. j, * m 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 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. 50 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, anrirnd 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. 61 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 C2 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(lcaiiU 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. C3 l!:iiik may |piircliii,>'i! iiiijj iiKirt- t;"!;'''! til it. II' xdid iiiulor CXOUUtilJII, Ji.'. AnJ ohtnin nil nbanlulu title, by re- Iciittioii. 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. 64 Cap. 7. S(iviny 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 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, laymont 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. m 66 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. 67 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,'! 68 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 i',; ^1 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. 3. assets over liabilities of St. John Sav- ings Bank, N.B. ♦Repealed by 36 Vic, cap. 72, sec. 5, (see p. 72). 1.^ n Caps. 9, 72. Savings Banks, Sfc. S*^, 36 Vict. 69 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 ; — \m 10 Chap. 72. Certain Savings Banks. 3G Vict. M 4 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. 3. l! '•'II 1873. Certain Savin^^s Banks. Chap. 72. 71 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 at 72 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. . H [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. 73 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. 3. !!■- If: I- 74 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.* H [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. 75 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« 76 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. 7. ' 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 7. 1867. Promissori/ Notes, SfC Cap. 9. 77 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. m 78 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 !iflixiiin 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 dacii 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. 79 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 80 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 : — a. ♦Amended by 37 Viot., cap. 47, (page S3.) 1870. Promissory Notes, 8f<:. Cap. l:J. 81 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, !Uiuli.--(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 82 Caps. 13, 10. rromissory Notes, SfC. 33, 35 Vict. J, I ife i ■: 'u !1 f " r If part of the duty was not paid through inadvorteccc, PendinR suits excepted. Preamble. X 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. 88 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 in New section Bubstituted. Innocent holder of un- stamped or insufficiently stamped note, &o., may maktt it valid by payment of double duty, if! f 84 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 :mi8Sory which a nine. first day CHAP. ) . CRIMINAL n iii; ill' f>i 86 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. 87 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. 4 w, n ■I 88 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 .■• 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^ /A '/ IMAGE EVALUATION TEST TARGET (MT-3) 1.0 Ui 12.2 I.I 1.25 i 1.4 2.0 1= 1.6 l! ;« ^ 92 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. W 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. 9S 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. 96 or 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 00 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 . 7 YEAR. vie. CAP 1874 37 64 1872 35 55 1868 31 85 1872 35 53 I87I 34 42 1872 35 60 1874 37 62 1869 32-33 57 1871 3t ii 1874 37 59 1874 37 5« 1872 35 56 1869 32-33 52 1875* 38 60 1867 31 17 1870 33 40 ■ 1871 34 8 1873 36 13 1874 37 5H 1873 36 77 1870 .33 41 1873 36 51 1875 38 59 1876* 39 41 1872 35 51 1871 34 40 1869 32-33 56 1870 33 42 1872 35 57 1873 36 78 1876* 39 40 1869 32-33 51 1876* 39 44 1867 31 18 1868 31 84 1871 34 38 1876* 39 44 1869 32-33 60 1872 35 SO 1873 36 79 1874 37 57 1869 ^2-33 54- 1870 33 42* 1872 35 54 1873 36 74 1874 37 61 1875* 3« 61 .II- 18 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 37 65 1875* 38 «0 187(i' 39 43 187-t 37 60 1872 25 58 1876' 39 ■n 18(18 31 84 18(i9 32-33 50 1870 33 43 1871 34 39 1868 31 83 1875 38 61 1860 32-33 53 1871 34 37 1874 37 t'3 1873 36 70 1860 32-33 50 1869 32-33 58 1876« 39 44 1873 36 73 1872 35 52 1876' 39 45 1876* 39 45 1872 35 50 1873 36 70 1873 36 14 1872 35 61 1869 32-33 55 1873 36 75 1874 37 60 1871 34 41 Ir. VIO. CAP 37 5f> 38 «0 39 43 :h7 60 25 58 3a 4:^ 31 84 32-33 5it 33 43 34 39 31 83 38 61 32-33 53 34 37 37 t'3 36 70 32-33 50 32-33 58 39 44 36 73 35 52 39 45 39 46 35 59 30 79 36 14 35 61 32-33 55 36 75 37 60 34 41 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 31 4»; M !HV() 33 12 !l 1871 :{4 5 36 1872 35 8 ■US 1873 3C 43 42 Ki 187£ 1870 38 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 atMiNisTRATioNS — 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, :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 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 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 7 'i7 ','7 :{7 m :io : :fr. !»-^ 4 11 II II >iy mi '.Ml-; 11 Hi 84 rtf) ;w ]S 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 37 :w :«> :«5 nf) :{r. 1 11 II 11 *21t H() 8ti H~ r!7 84 H5 \\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/,. 'ni ()rimtiini]izM('uiil)i,.f.t. ■ ' " ' • *♦ '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!^'^"''^ "'• * ™"^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 5a 58 53 .53 53 53 54 55 56 57 57 58 58 58 .'-.8 59 59 59 59 59 60 60 60 HO 60 60 61 61 61 61 61 61 6'i 6-i 6:t 03 107 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 60 61 61 61 6t 61 61 68 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 05 (55 ♦if) 67 67 07 07 OH (W 09 69 69 70 7(t 70 a? m 10 u 14 14 14 14 14 15 15 ir> ir. J 5 iO 10 10 10 17 17 18 18 18 18 18 20 20 20 23 3C 31 38 10 lOA J* 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 12 i:{ IH 93 93 9'« :w 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 :n 37 9« 3H 19 20 18 18 90