A

BIL L

[AS AMENDED BY THE COMMITTEE, AND
ON REPORT]

To facilitate the Inclosure and Improvement of Commons and Lands held in common; the Exchange of Lands, and the Division of intermixed Lands; to provide Remedies for defective or incomplete Executions, and for the Non-execution of the Powers of General and Local Inclosure Acts, and to provide for the Revival of such Powers in certain cases.

(Prepared and brought in by

The Earl of Lincoln and Lord Granville
Somerset.)

Ordered, by The House of Commons, to be Printed,
11 July 1845.

[Price 11d.]

491.

Under 16 oz.

COMPANIES CLAUSES CONSOLIDATION; 1845.

ARRANGEMENT OF CLAUSES.

Operation of the Act; sect. 1.

Interpretation; 2 to 4.

Clauses providing for the distribution of the Capital into Shares; 5 to 12.
Transfer of Shares; 13 to 19.

Payment of Subscriptions and enforcement of Calls; 20 to 27.

Forfeiture of Shares for non-payment of Calls; 28 to 34.

Execution against Shareholders to the extent of their Capital not paid up; 35, 36.

Exercise of the Power to borrow Money, and Provision for enforcing the rights of the Loan Creditors; 37 to 54.

Conversion of the borrowed Money into Capital; 55 to 59.

Consolidation of the Shares into Stock; 60 to 63.

Application of Capital; 64.

General Meetings and rights of voting; 65 to 79.

Appointment and rotation of Directors; 80 to 88.

Powers of the Directors; 89, 90.

Proceedings of the Directors; 91 to 99.

Appointment and Duties of Auditors; 100 to 107.

Accountability of Officers; 108 to 113.

Keeping of Accounts and right of Inspection by the Shareholders; 114 to 118.

Making of Dividends; 119 to 122.

Making of Bye-laws; 123 to 126.

Proceedings for settling Questions by Arbitration; 127 to 133.

Service of Notices; 134 to 138.

Proof of Debts in Bankruptcy; 139.

Tender of amends; 140.

Recovery of Damages not specially provided for, and of Penalties; 141 to

157.

Appeal to the Quarter Sessions; 158, 159.

Act not to extend to Scotland; 160.
Act may be amended this Session; 161.

6 February 1845.-8 VICT.

A

BILL

For consolidating in one Act certain Provisions usually in-
serted in Acts with respect to the Constitution of Com-
panies incorporated for carrying on Undertakings of a
Public Nature.

5

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

W

HEREAS it is expedient to comprise in one General Preamble. Act sundry Provisions relating to the constitution and management of Joint Stock Companies, usually introduced into Acts of Parliament authorizing the execution of Undertakings of a public nature by such Companies, and that as well for the purpose of avoiding the necessity of repeating such Provisions in each of the several Acts relating to such Undertakings, as for ensuring greater uniformity in the Provisions themselves;

May it therefore please Your MAJESTY,

1.

the Act con

10 That it may be Enacted; And be it Enacted, by The QUEEN's
most Excellent MAJESTY, by and with the Advice and Consent of the
Lords Spiritual and Temporal, and Commons, in this present Parlia-
ment assembled, and by the Authority of the same, THAT this Act Operation of
shall extend only to such Companies as shall be incorporated or con-
15 stituted by Acts of Parliament which shall hereafter be passed, and Companies.
which shall declare that this Act shall be incorporated therewith; and
all the enactments and provisions of this Act, save so far as they shall
be in any case expressly varied or excepted by any such Act, shall apply
to the Company which shall be incorporated or constituted by such
20 Act, and to the Undertaking for carrying on which such Company
shall be incorporated or constituted, so far as the same shall be
applicable thereto respectively; and such enactments and provisions,