ACTS OF THE LEGISLATURE OF THE PROVINCE OF MANITOBA PASSED IN THE SESSION HELD IN THE FIFTH AND SIXTH YEARS OF THE REIGN OF HIS MAJESTY, KING EDWARD THE SEVENTH, BEING THE THIRD SESSION OF THE ELEVENTH LEGISLATURE BEGUN AND HOLDEN AT WINNIPEG ON THE Eleventh Day of JANUARY. 1906, and CLOSED BY PROROGATION ON THE SIXTEENTH DAY OF MARCH, 1906 DROIT Sir Daniel Hunter McMillan, K. C. M. G. LIEUTENANT-GOVERNOR. VOL. 2.-PRIVATE ACTS WINNIPEG, MANITOBA. PRINTED BY JAMES HOOPER, KING'S PRINTER FOR A. D. 1906 5-6 EDWARD VII. CHAPTER 101. An Act to incorporate "The Bonnet Falls Power Company." [Assented to March 16th, 1906.] WHEREAS a petition has been presented, praying for Preamble. the incorporation of "The Bonnet Falls Power Com-. pany," for the purposes hereinafter set forth and with the powers herein contained, and it is expedient to grant the prayer of the said petition, Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: 1. Archibald Wright, Count Alfred Von Hammerstein Incorporation. and William Redford Mulock, together with such persons as become shareholders in the company hereby incorporated, are hereby constituted a body corporate under the name of "The Bonnet Falls Power Company," hereinafter called "the company." 2. The head office of the company shall be at the City of Head office. Winnipeg, but shareholders' or directors' meetings may be held either within or outside of the Province of Manitoba, as may be decided upon by the by-laws of the company. 3. The capital stock of the company shall be six million Capital stock. dollars, divided into sixty thousand shares of one hundred dollars each, and the company may commence business as soon as $200,000 thereof has been subscribed and 10 per cent. paid thereon. directors. 4. The persons named in the first section of this Act are provisional hereby constituted the provisional directors of the company, a majority of whom shall form a quorum, and shall have power and authority to open stock books and obtain subscriptions for stock of the company, and to proceed with the organization of the company, and shall have all the powers Their powers. First general meeting of the which are conferred upon the directors by this Act, and shall hold office until after the first election of directors as hereinafter provided for. 5. A general meeting of the company shall be held at the shareholders. head office of the company, at such time as the provisional directors may determine, and notice of such meeting shall be given by mailing, at least ten days before the holding of such meeting, a written notice of such time and place, postage prepaid and registered, to the provisional directors or address of each shareholder of the company. Notice of. Annual, general and special meetings. Quorum. Number of directors. 6. There shall be a general meeting of the company each year, but one-fourth in value of the shareholders who shall have paid all calls on the stock held by them shall have power at any time, upon giving thirty days' notice, by advertising the same in four issues of The Maintoba Gazette and in four issues of a daily newspaper published in the City of Winnipeg, stating the nature of the business to be transacted thereat, and by mailing a notice to the shareholders by registered mail, to call a special general meeting of the company, at which a majority in value of the shareholders, who shall have paid all calls on the stock held by them, shall constitute a quorum, and at such special meeting there shall not be transacted any business of the company except that which shall have been stated in the notice calling such meeting. 7. The affairs of the company shall be managed by a board of not less than three nor more than nine directors, as shall be decided from time to time, who shall be elected To be elected yearly by the shareholders in general meeting of the company assembled, and the directors so elected shall immediately thereafter hold a meeting and elect their officers for the current year. yearly. Company not dissolved by failure of election. General directors. 8. If at any time an election of directors be not made or do not take effect at the proper time, the company shall not be held to be thereby dissolved; but such election may take place at any general meeting of the company, duly called for that purpose; and the retiring directors shall continue in office until their successors are elected. 9. The directors of the company shall have full power in powers of the all things to administer the affairs of the company, and to do all things necessary to carry out the objects and exercise any of the powers incident to the company, and may make or cause to be made for the company any description of contract which the company may, by law, enter into; and may from time to time make by-laws, rules, resolutions and regulations, not contrary to law nor to the provisions of this Act, for the election of the officers of the company and the duties of each, and the filling of all vacancies; for the acquirement, management and disposing of its stock, shares, properties and effects, and all its affairs and business; the issue of preference or debenture stock, the increase of the amount of its capital stock, the issue, sale and allotment of its capital stock, or any portion thereof, at such price or discount as may be decided upon by them, the making of calls thereon, the forfeiture thereof for non-payment, the disposal of forfeited stock and of the proceeds thereof, the transfer of stock, the issue and registration of certificates of stock, the declaration and payment of dividends, the increasing or reducing the number of the directors, their term of service, the entering into arrangements and contracts with any city, town, village or rural municipality, or person or corporation, as to any of the objects of the company, the appointment, functions, duties and removal of all agents, officers and servants of the company; the security to be given by them to the company, their remuneration, the fares to be received and rates and charges to be made on the said railway and vessels, and for any of the products of the company, and for the electrical, water and other powers and light and heat to be developed, manufactured, used and supplied by the company; the time at which and place where the annual meetings of the company shall be held, the calling of meetings, regular and special, of the board of directors and of the company, the quorum, the requirements as to proxies, and the procedure in all things at such meetings, the imposition and recovery of all penalties and forfeitures admitting of regulation by by-law, and the conduct in all particulars of the affairs of the company; and may from time to time repeal, amend or re-enact the same, but the powers as to preference or debenture stock, the issue of bonds, the increasing or decreasing the number of directors, and the Sanction of powers conferred by sections 28 and 31 hereof, shall be thirds of exercised only when sanctioned by a vote of two-thirds of the shareholders of the company then present in person or by proxy at an annual meeting of the company, or a special general meeting called for that purpose. vote of two shareholders for the exer cise of certain powers. of a director. 10. No person shall be qualified to be elected as such Qualifications director, except as herein provided, unless he is a shareholder in the company holding at least ten shares of stock, and unless he has paid all calls thereon. 11. One or more of the directors may be paid directors, Directors may and each of said directors shall be entitled to vote by proxy, vote by proxy. |