as against such company and the members thereof, shall be entitled to all such remedies as they or he would have been entitled to if no such alteration had been made; and no such alteration shall abate or render defective any legal proceeding pending at the time when such alteration is made. XIII. In the case of any company which has obtained a certificate of limited liability, whenever, on taking the yearly accounts of such company, or by any report of the auditor thereof, it appears that three fourths of the subscribed capital stock of the company has been lost, or has become unavailable in the course of trade, from the insolvency of shareholders, or from any other cause, the trading and business of such company shall forthwith cease, or shall be carried on for the sole purpose of winding up its affairs; and the directors of such company shall forthwith take proper steps for the dissolution of such company, and for the winding up of its affairs, either by petition to the Court of Chancery, or by exercise of the powers of the deed of settlement, or by such other lawful course as they may think most fit. XIV. In cases where a certificate of registration with limited liability has been obtained, when one auditor only shall have been appointed under the thirty-eighth section of the Act of the eighth of Victoria, chapter one hundred and ten, that single auditor, and when two or more such auditors shall have been so appointed then one of such auditors, shall be subject to the approval of the Board of Trade, and such board in case the auditor submitted to them for approval shall for any reason appear unfit or objectionable shall appoint another in his place. XV. Every pecuniary penalty imposed in pursuance of this Act shall be deemed a debt due to the Crown, and shall be recoverable accordingly. XVI. This Act shall, so far as is consistent with the contents and subject matter thereof, be taken as part of and construed with the said Act of the eighth year of her present Majesty, chapter one hundred and ten, and the Act of the eleventh year of her Majesty, chapter seventy-eight, all the provisions of the said Acts, save in so far as they are varied by this Act, shall apply to persons and companies applying for or obtaining a certificate of complete registration with limited liability. XVII. The provisions of the Act of the eighth year of her present Majesty, chapter one hundred and eleven, and of the Joint Stock Companies Winding-up Act, 1848, and of the Joint Stock Companies Winding-up Amendment Act, 1849, shall apply to persons and companies obtaining a certificate of complete registration with limited liability, subject only to such variations as may be occasioned by the provisions of this Act. XVIII. This Act shall not apply to Scotland. XIX. This Act may be cited for all purposes as "The Limited Liability Act, 1855." END OF THE STATUTES. MISCELLANEOUS INDEX. Jan. 18, 1855, 55. Resolutions by the Munster, 146. BILLS, Introduced into Parliament, 110, 114, 122, 130, 139, 146, CIRCUITS, 28, 204. CORRESPONDENCE, With respect to the Laws relating to Pews in Churches, 10. On Speculative Actions, 158. EDITORIAL ARTICLES, Introductory, 1. On Legal Reporting, 5. On Leasing Powers, 9. On Reform in the System of Legal Reporting, 13. On the New English Practice of New Trials, 17. On the Abuse of Jury Trial in Civil Actions, and its Re On New Trials in Criminal Cases, 25. On Alterations of the Practice of Nisi Prius, 41. On the Present Mode of Ascertaining the State of Fo- On the Formation of an Irish Law Amendment Society, 57. On the Action of Replevin, as affected by 16 & 17 Vic., c. On the Necessity of allowing more Time for holding the Whether the Judgment in Ejectment since the Common On Reform in the Appellate Jurisdiction in Equity, 81. On Reform in the Construction of Acts of Parliament, 97. On the same Subject, 113. On the Abolition of Stamp Duties on Newspapers, 121. EDITORIAL ARTICLES (Continued) On the New System of Pleading in Ejectment, 165. On the Report of the Incumbered Estates Inquiry Com- On the Right of the Court on Demurrer, since the recent On the Protection of Officers of the Law from vexatious On the Necessity for the General Rules to insure Unifor- On the Law of Erasures in Deeds and Wills, 205. On the Legal Measures of the Session of Parliament, 229. On the Selection of Candidates for the Civil Service, 245. On the Improvement of the Law of Evidence, 261. INCORPORATED LAW SOCIETY, Report for Year 1854, 35. INCUMBERED ESTATES COURT, 54. Inquiry Commission Report, 176, 182, 190, 197, 206, 213 REVIEWS, "Ireland's Recovery," by John Locke, Esq., 15. The Practice of the High Court of Chancery in Summary The Amendment of the Bankrupt Laws, 65. SOCIETY FOR PROMOTION OF AMENDMENT OF A Paper on Partnership under the principle of Limited STATUTES Of Session (17 & 18 Vic.) relating to Ireland, 3, 6, 11, 18, |