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the House of Commons for the Despatch of Business as that the Writ for the Election may be issued before the Day of such next Meeting of the House of Commons.

Provisions of

IX. And be it enacted, That all and every of the Powers Extending the 5 contained in an Act of the Twenty-fourth Year of His late Majesty 24 G.3.c.26. and King George the Third, for repealing so much of Two former Acts 52 G. 3. c. 144. as authorized the Speaker of the House of Commons to issue his Warrant to the Clerk of the Crown for making out Writs for the Election of Members to serve in Parliament in the Manner therein 10 mentioned, and for substituting other Provisions for the like Purpose, so far as such Powers enable the Speaker of the House of Commons to nominate and appoint other Persons, being Members of the House of Commons, to issue Warrants for the making out of new Writs during the Vacancy of the Office of Speaker, or during his Absence 15 out of the Realm, shall be and they are hereby made to be in force for the Purposes of enabling him to make the like Nomination and Appointment for issuing Warrants under the like Circumstances and Conditions for the Election of Members of Parliament in the Room of such whose Seats shall become vacant under the Provisions of 20 this Act.

X. And be it enacted, That this Act may be amended or repealed by any Act to be passed in this present Session of Parliament.

Act may be

amended or repealed this Session.

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A

BILL

ΤΟ

Amend the Joint Stock Companies Winding-up
Act, 1848.

[Note. The Words printed in Italics are proposed to be inserted
in the Committee.]

W

HEREAS it is expedient to amend as after mentioned the Preamble. Joint Stock Companies Winding-up Act, 1848: Be it 11 & 12 Vict. enacted by the Queen's most Excellent Majesty, by and

c. 45.

Vict. c. 45.

with the Advice and Consent of the Lords Spiritual and Temporal, 5 and Commons, in this present Parliament assembled, and by the Authority of the same, That, notwithstanding anything in the said The 11 & 12 Act contained importing a more limited Application thereof, the same to extend to shall apply to all Partnerships, Associations, and Companies whereof all Persons, the Partners or Associates are not less than Six in Number, whether 10 incorporated or unincorporated, and whether formed or subsisting panies conbefore or after the passing of the said Act or this Act.

15

Associations,

and Com

sisting of not less than 6 Members.

&c. to be

besides Ad

II. And be it enacted, That every Petition for Dissolution and Petition for winding up, or for winding up, the Affairs of any Company, under Dissolution, the said recited Act, shall, in addition to the Advertisement thereof in advertised in the London Gazette or in the Dublin Gazette directed by the said Newspapers Act, be advertised once at least in Two London Daily Morning News- vertisement papers, or in Two Dublin Daily Newspapers, (as the Case may be,) in Gazette. and also (in case the head or only Office of the Company be not in London, Westminster, or Southwark, or in Dublin,) once at least in 20 some Newspaper in general Circulation in the County, City, or Borough

321.

A

s. 10.

On winding

up on Suit,

Court may order a Re

sort to the

Act.

s. 18.

Extension of

Provision as

to Official Managers Sureties;

Withdrawal,

Diminution

of Security;

Recogni

Borough where the Head or only Office, or the last known Head or only Office of the Company, is or was situate.

III. And be it enacted, That the Provision in the said Act contained for empowering Her Majesty's High Court of Chancery in England and Ireland respectively, in any Decree or Order for the 5 Dissolution of a Company or of any other Association or Partnership, as therein mentioned, to be made in any Suit then pending or thereafter to be instituted, and also, by any Order to be made after a Decree for the Dissolution of a Company, Association, or Partnership in any such Suit, to order that the Affairs of such Company or Association 10 should be wound up under the Provisions of the said Act, and that the Costs of winding up the same should be paid and recovered according to the Provisions of the said Act, and for that Purpose to give Directions as therein mentioned, any Decree or Order so to be made to be deemed, if the said Court should so direct, an Order 15 absolute under the said Act, shall extend in all respects to any Decree or Order of the Court for the winding up of the Affairs of any such Company, Association, or Partnership as therein mentioned, to be made in any Suit now pending or hereafter to be instituted, and also to any Order to be made after a Decree for the winding up of 20 the Affairs of a Company, Association, or Partnership in any such Suit.

IV. And be it enacted, That it shall be lawful for the Master for the Time being acting in the winding up of any Company under the said Act in respect of which an Official Manager has been, or shall be 25 appointed, if he think fit so to do, from Time to Time to allow any Increase, or Surety of such Official Manager to withdraw from his Suretyship, or to become bound in a smaller Sum, from Time to Time, upon his vacating of procuring another Surety or Sureties to become bound in a competent Amount, and also to allow any Surety from Time to Time to become 30 bound in a larger Sum, and to direct any new Recognizances to be entered into accordingly, and also that it shall be lawful for the Master, in any Case arising under the present Provision, and also upon the Death, Bankruptcy, or Insolvency of any Surety, and the Appointment of any new Surety in his Place, to order any Surety's Recogni. 35 zance to be vacated: Provided always, that nothing herein contained shall authorize the Master at any Time to allow the total Amount of the Recognizances of all the Sureties of any Official Manager for the Time being to fall short of the Sum in which such Official Manager is

zances. s. 24.

Remunera

bound.

V. And be it enacted, That, notwithstanding the Provision in the tion of Offi- said Act contained for empowering the Court to allow, increase, or cial Manager diminish from Time to Time the Salary or Remuneration of the

to be fixed

Official

40

s. 32.

Official Manager, it shall be lawful for the Master to exercise the said by Master. Powers and Discretions so given to the Court, and that whether as respects any Official Manager already appointed or hereafter to be appointed: Provided always, that such Salary or Remuneration shall not, Scale there5 unless the Court otherwise direct, exceed (in addition to any Allowances or Salaries to Clerks or Officers employed by such Official Manager in or about the winding up of the Company, such Allowance or Salary to be also fixed or approved by the Master) the Rates or Sums herein-after mentioned; that is to say,

10

15

In respect of all Estate of such Company paid or divided among
the Creditors or Contributories of the same under the Provisions
of the said Act which shall not exceed One hundred thousand
Pounds, Five Pounds per Cent.;

In respect of all such Estate which shall exceed One hundred
thousand Pounds but shall not exceed Two hundred thousand
Pounds, Four Pounds per Cent.;

And in respect of all Estate so divided which shall exceed Two
hundred thousand Pounds, Three Pounds per Cent.

of.

ration, &c. of

VI. And be it enacted, That the Provision herein contained with Provisions as 20 respect to the Remuneration of an Official Manager, and the Provi- to Remunesions in the said Act contained with respect to passing the Accounts Official Maof the Official Manager, and the Inspection of his Books by the Con- nager to apply to tributories, and the Evidence of his Books, Accounts, and Documents, Provisional and all other the Powers and Duties of the Official Manager, shall Manager. 25 apply in all respects to the Remuneration of any Interim or Provi- 48, 49. sional Manager to be appointed as in the said Act mentioned, and to the passing of his Accounts, and the Inspection of his Books, and the Evidence of his Books, Accounts, and Documents, and the Powers and Duties of the Interim or Provisional Manager.

30

ss. 32. 34, 35.

endorse Bills

VII. And be it enacted, That for better getting in the Estate of Official Maany Company in respect of which an Order absolute has been or shall nager may be made under the said Act, and discharging the Debts thereof, and and Notes, winding up the Affairs thereof, it shall be lawful for the Official and raise Money on Manager of such Company, under the Direction of the Master for the Security of 35 Time being acting in the winding up thereof, and on behalf of the Assets. Company, to draw, accept, and endorse any Bill of Exchange or Pro- 11 & 12 Vict. missory Note, and also to raise upon the Security of the Assets of the Company from Time to Time such Sum or Sums of Money and in such Manner as the Master shall from Time to Time direct.

40

c. 45. s. 34.

VIII. And be it enacted, That the Word "Contributory " as used The Word "Contribuin the said Act with respect to the Parties who are to attend the tory" to inProceedings before the Master, and to the Representation of Classes clude alleged of

321.

Contributo

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