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of Her Majesty's High Court of Chancery in England or Ireland respectively, to be there placed to the Credit of the Suitors Fee Fund Account, such Amount by way of Per-centage as shall be certified by the Master upon the Monies paid or divided amongst the Creditors or 5 the Contributories of such Company in winding up the Affairs thereof, not exceeding the Sums following; that is to say,

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Upon the first Monies so paid and divided, not exceeding Fifty thou-
sand Pounds, the Sum of Ten Shillings per One hundred Pounds:
Upon all further Monies above Fifty thousand Pounds and not
exceeding One hundred thousand Pounds, so paid and divided,
the Sum of Five Shillings per One hundred Pounds:

Upon all further Monies above One hundred thousand Pounds
and not exceeding Two hundred thousand Pounds, so paid and
divided, the Sum of Three Shillings and Four-pence per One
hundred Pounds:

Upon all further Monies exceeding Two hundred thousand Pounds,
so paid and divided, the Sum of One Shilling and Three-pence
per One hundred Pounds.

Provided always, that it shall be lawful for the Lord Chancellor of 20 Great Britain or the Lord Chancellor of Ireland, by such Rules or Orders as herein-after mentioned, to alter and vary from Time to Time the Rates herein specified.

tian Names

in Notices, Pre-payment

and Return of

XXXII. And be it enacted, That no Service under the said Act As to Omisshall be deemed invalid by reason of the Christian Name or any of sion of Chris30 the Christian Names of the Person upon whom Service is sought to be made having been omitted, or designated by initial Letters, in the List of Contributories, or in the Summons, Notice, Order, or other Letters sent Document wherein the Name of such Contributory is contained, by the Post. and that any Summons, Notice, Order, or other Document sent by s. 108. 35 Post shall be pre-paid, except so far as the Rules of the Post Office

shall not allow of Pre-payment; and that in proving any such Service by Post it shall not be necessary to show that the Document was not returned.

cellors

Power to make Rules

and Orders.

ss. 122. 124.

XXXIII. And be it enacted, That the Powers by the said Act Extension of 40 given to the Lord Chancellor of Great Britain and the Lord Chan- Lord Chancellor of Ireland respectively, with such Advice and Consent as therein mentioned, of making, varying, and discharging Rules and Orders for the Objects therein mentioned, shall extend to authorize and empower the said Lord Chancellors respectively, with the like 45 Advice and Consent as in the said Act mentioned, to make all such Rules and Orders as from Time to Time shall seem necessary or expedient for better carrying into effect the Purposes of the said Act or of this Act, by Her Majesty's High Courts of Chancery in England and

321.

Act to be
Part of Joint
Stock Com-

and Ireland respectively, and from Time to Time to alter, vary, and
discharge any such Rules or Orders.

XXXIV. And be it enacted, That this Act shall be taken and construed (so far as practicable) as a Part of the said Joint Stock panies Wind- Winding-up Act, 1848.

ing-up Act,

1848.

Short Title.

Act may be

amended.

XXXV. And be it enacted, That in citing this Act in other Acts of Parliament, and in legal Instruments and in legal Proceedings, it shall be sufficient to use the Expression "The Joint Stock Companies Winding-up Amendment Act, 1849."

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XXXVI. And be it enacted, That this Act may be amended or 10 repealed by any Act to be passed in this Session

of

Parliament.

[blocks in formation]

A

BILL

[AS AMENDED BY THE COMMITTEE]

ΤΟ

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

[Note.-The Clauses marked A. to D. and Schedules A. and B. were added by the Committee.]

W

Vict. c. 45.

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. 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 Partthe Partners or Associates are not less than Six in Number, whether nerships, 10 incorporated or unincorporated, and whether formed or subsisting and Combefore or after the passing of the said Act or this Act, other than and panies consisting of not except Railway Companies incorporated by Act of Parliament, to less than 6 which Companies such Act shall not apply: Provided nevertheless, Members. that nothing herein contained shall affect the Jurisdiction of the Court 15 of Stannaries in Cornwall.

Associations,

Dissolution,

II. And be it enacted, That when any Petition for Dissolution Petition for and winding up, or for winding up, the Affairs of any Company, &c. to be under the said recited Act, shall have been presented, every subse- advertised in quent Petition relating to the Affairs of such Company shall be Newspapers

411.

A

addressed

besides Ad

in Gazette.

s. 10.

vertisement addressed to and marked for the same Judge, and also shall, in addition to the Advertisement thereof in the London Gazette or in the Dublin Gazette directed by the said Act, be advertised at least Seven clear Days before the hearing thereof, and once at least in Two London Daily Morning Newspapers, or in Two Dublin Daily Newspapers, 5 (as the Case may be,) 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 some Newspaper in general Circulation in the County, City, or Borough where the Head or only Office, or the last known Head or only Office of the Company, is or was situate, 10 and such Advertisement may be in the Form or to the Effect set out in the Schedule A. annexed to this Act; and every Contributory shall be entitled to be furnished by the Solicitor presenting any Petition with a Copy thereof within Twenty-four Hours after requiring the same, on paying at the Rate of Four-pence per Folio for such 15 Copy.

CLAUSE A.
Petition for
Dissolution,

&c. may be
verified by

Affidavit.

On winding

up on Suit, Court may

order a Re

sort to the Act.

s. 18.

III. And be it enacted, That every Petition for Dissolution and winding up, or winding up, may be verified by Affidavit annexed thereto, or subscribed at the Foot thereof, at the Time of presenting and filing the same, in the Form or to the Effect set out in the Sche- 20 dule B. annexed to this Act; and that no Costs of any further or additional Affidavit in verification shall be allowed, unless specially allowed by the Court.

IV. And be it enacted, That the Provision in the said Act contained for empowering Her Majesty's High Court of Chancery in 25 England and Ireland respectively, in any Decree or Order for the 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 30 any such Suit, to order that the Affairs of such Company, Association, or Partnership 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 35 Order so to be made to be deemed, if the said Court should so direct, an Order absolute under the said Act, shall extend in all respects to any Decree or Order of the Court for or relating to the winding up of the Affairs of any such Company, Association, or Partnership as therein mentioned made in any Suit now pending or hereafter to 40 be instituted, and also to any Order made after a Decree for or relating to the winding up of the Affairs of a Company, Association, or Partnership in any such Suit.

V. And

Provision as

Sureties;

zances.

s. 24.

V. And be it enacted, That it shall be lawful for the Master for Extension of the Time being acting in the winding up of any Company under the to Official said Act in respect of which an Official Manager has been or shall be Managers appointed, if he think fit so to do, from Time to Time to allow any Withdrawal, 5 Surety of such Official Manager to withdraw from his Suretyship, or Increase, or Diminution to become bound in a smaller Sum, from Time to Time, upon his of Security; procuring another Surety or Sureties to become bound in a competent vacating of Amount, and also to allow any Surety from Time to Time to become Recognibound in a larger Sum, and to direct any new Recognizances to be 10 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 Recognizance to be vacated: Provided always, that nothing herein contained 15 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 bound.

tion of Offi

s. 32.

VI. And be it enacted, That, notwithstanding the Provision in the Remunera 20 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 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 ap25 pointed: Provided always, that such Salary or Remuneration shall not, Scale thereunless 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 30 herein-after mentioned; that is to say,

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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.

VII. And be it enacted, That the Provision herein contained with Provisions as respect to the Remuneration of an Official Manager, and the Provi- to Remuneration, &c. of sions 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,

411.

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