on, not exceeding eight per centum per annum, and may also repay to a shareholder the amount of the shares held by him and paid up and not represented by land in the cemetery. How subscriber shareholder. ceases to be or lots. 22. Upon repayment to a subscriber as provided by section 21, he shall cease to be a shareholder in respect of the shares held by him to the extent of the amount so repaid, and upon such repayment in full he shall cease to be a shareholder, unless he holds a lot in the cemetery which contains at least one hundred superficial feet. 23. The amount owing to a company in respect of any share Payment for shares shall be payable as and when the directors may determine, and any share with the amount paid thereon may be forfeited for default in payment; but the directors may remit a forfeiture where the amount in default is paid with interest at such rate as may be fixed by by-law of the company, not exceeding eight per centum per annum, within one year after the day when that amount ought to have been paid. Directors. quorum. 24. The affairs and property of a company shall be managed by Number and a board consisting of not less than three or more than nine directors, a majority of whom shall form a quorum. 25. Every shareholder shall be eligible as a director of a company. Qualification. 26. The first directors of a company shall be chosen by ballot Election. from among the subscribers to the instrument prescribed by section 4, and thereafter the directors shall be elected by the shareholders at the annual general meeting. company. 27. The directors of a company shall at their first meeting elect President of one of their number to be president of the company, and the president, if present (or if he is not present, then some director chosen for the occasion), shall preside at all meetings of the directors and the company, and in the case of an equality of votes shall have a second or casting vote. 28. The directors of a company shall hold a general meeting of the shareholders on the third Monday in January in each year, before which they shall lay a full report of the affairs of the company. Duty to hold annual meeting of company. by-laws. 29. The directors of a company may pass by-laws for the develop Power to pass ment and management of its cemetery and the sale and conveyance of lots therein and for regulating the erection of tombs, monuments, or gravestones therein. proceedings. 30. The directors of a company shall record in a book kept for Record of the purpose all their by-laws and proceedings and the proceedings. at all general meetings, and any person may inspect such book and make extracts therefrom without payment of any fee. Personal liability of directors. Violation of ss. 11 to 14. Contamination of water. Damage to tomb stones and structures. 31. The directors of a company shall be personally liable for any judgment recovered against the company. Offences. 32. Every company which violates the provisions of sections 11, 12, 13, or 14 shall be guilty of an offence against this Act and liable, on summary conviction, to a penalty not exceeding fifty dollars. 33. (1.) Where a company at any time causes or suffers to be brought to or to flow into the waters of any spring, river, stream, canal, well, reservoir, aqueduct, pond, or watering-place any offensive matter from its cemetery, whereby the water is fouled, the company shall forfeit for every such offence the sum of fifty dollars. (2.) The said penalty, with full costs of suit, may, by a civil action in any Court of competent jurisdiction, be recovered by any person having a right to use the water; but the penalty and costs shall not be recoverable unless sued for during the continuance of the offence, or within six months after it has ceased. (3.) In addition to the penalty of fifty dollars (and whether the same has been recovered or not), any person having a right to use the water may sue the company in a civil action for any damage specially sustained by him by reason of the water being fouled, or, if no special damage is alleged, then for the sum of ten dollars for every day during which the offensive matter has continued to be brought or to flow after the expiration of twenty-four hours from the time when notice of the offence was by such person served upon the company. 34. Any person who:- (a.) Wilfully destroys, mutilates, defaces, injures, or removes (c.) Plays at any game or sport in any such cemetery; or (e.) Wilfully and unlawfully disturbs persons assembled for (f.) Commits a nuisance in any such cemetery, shall, in addition to any other liability he may thereby incur, be liable in an action of trespass in the name of the company to pay all damages occasioned by his unlawful act; and the money, when recovered, shall be applied by the directors for the reparation and reconstruction of the property damaged or destroyed. Repeal. 35. The "Cemetery Companies Act," being chapter 32 of the Act repealed. "Revised Statutes of British Columbia, 1911," is repealed. in the Province of British Columbia, and resolved to form ourselves into a company, to be called " Cemetery Company," according to the provisions of the "Cemetery Companies Act," for the purpose of establishing a lot in dollars each, each fully paid share entitling the holder to the cemetery containing not less than one hundred superficial feet. respectively agree to take the number of shares set opposite our respective signatures. dollars paid to it by , of Cemetery Company, in his heirs consideration of use of the said In witness whereof the common seal of the said Company was affixed hereto this 19 in the presence of— day of H CHAPTER 5. 1921, c. 11; 1922, c. 12. [Assented to 21st December, 1923.] IS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows: 1. This Act may be cited as the "Trust Companies Act Amend- short title. ment Act, 1923." 2. Section 47 of the "Trust Companies Act," being chapter 11 Amends s. 47. of the Statutes of 1921, is amended by striking out subsection (4), and substituting therefor the following: "(4.) Where the company is being wound up by or under the supervision of any Court having competent jurisdiction, or is or has been adjudged bankrupt or its affairs are being administered under the Bankruptcy Act' of the Dominion, the Minister may, in his discretion, transfer to the liquidator or trustee the deposit made by it under this section, after deducting therefrom all costs incurred in connection with the deposit or transfer, and upon such transfer being made all obligations imposed upon the Minister by this Act in respect of that deposit shall cease. The liquidator or trustee shall, subject to the approval of the Court, administer and distribute the moneys and securities constituting the deposit for the same purposes for which they are held by the Minister under this Act." 3. Section 51 of said chapter 11 is amended by inserting after the Amends s. 51. word "Dominion," in the second line of subsection (1), the words "or the debentures, stocks, or other securities of the Dominion." 4. Section 56 of said chapter 11 is amended by striking out sub- Amends s. 56. section (1), and substituting therefor the following: "(1.) A trust company may invest any moneys forming part of its own capital or reserve or accumulated profits upon or in :— 2 |