POLICY,

mode of valuing life policies in winding up, s. 5, of 35 & 63
Vict. c. 41, p. 772 and sch.

POLL,

proper mode of taking votes, 97.

regulations of Table A as to Arts. 42, 43, p. 429.

POST,

acceptance of contract by posting letter, 45.
service of notices, &c., by, ss. 62, 63, p. 290.

provisions of Table A, Arts. 95, 97, pp. 442, 443.

POWERS OF COMPANIES. (See ACQUIESCENCE, AGENCY,
BORROWING, CONTRACT, DIRECTORS.)

importance of distinguishing between objects of incorpora-
tion and incidental powers, though both powers and objects
are frequently confounded under the term "powers," 101,
109.

acts in excess of objects void; in excess of powers, as contra-
distinguished from objects voidable, 98, 109.

example of cases in which companies have been charged with
going beyond their objects or powers, 103, note (a),

form of suit, charging excess of powers, 99, note (a).
right of suing confined to members of the company, 100.
difficulties arising from doctrine that third parties have notice
of instrument of incorporation of company, 102.

questions as to borrowing powers, 104-108. (See BORROW-
ING.)

questions as to amalgamation, 108. (See AMALGAMATION.)
refusal of courts of equity to interfere with acts of directors
which are within the powers of the company, 114, 115.

PRACTICE,

in forming companies, summary of, 244. (See AssoCIATION,
MEMORANDUM OF, ARTICLES OF.)

in managing companies, 158.

in winding up companies. (See CONTRIBUTORY, WINDING
UP.)

in registering existing companies, 197, and for forms,

715.

of county courts in winding up, p. 587.

PRECEDENTS,

of memoranda and articles of association, &c., App. II.

(See FORMS).

PREFERENCE SHARES,

company cannot issue without express authority, 105.
rights of preference shareholders, 56, 57.

they are not entitled on winding up to any preference in a
division of capital, 58, note (a).

PRINCIPAL PLACE OF BUSINESS. (See OFFICE.)
PROCEEDINGS. (See LEGAL PROCEEDINGS, ACTION, WIND-
ING UP.)

at meetings of company and directors, minutes of, to be
kept, s. 67, p. 292.

PROFITS. (See PARTNERSHIP.)

participation in, how far test of partnership, 3, note (a).
agents and servants receiving share of profits by way of
salary, 3, note (a).

association not for profit, 30 & 31 Vict. c. 131, s. 23, p. 487.
(See CHARITABLE ASSOCIATION.)

PROMISSORY NOTE,

by attorney not within the scope of partnership business, 7,
note (b).

power of company to issue promissory notes or bills of ex-
change, 104.

personal liability on, of director unless excluded by the in-
strument, 116.

mere affixing company's seal does not exclude such liability,
116, note (c).

execution of, by company, s. 47, p. 279.

issue of, by liquidators, s. 95, p. 323.

memorandum of sanction of judge to acceptance, &c.,
rule 48, p. 518.

PROMOTERS,

liable for misrepresentation in prospectus, 29.

liable on contracts made by them on behalf of inchoate com-
pany, 46.

immoderate allowance to promoters disallowed, 48.

held liable for misrepresentations as to amount of capital
subscribed, note to s. 200, p, 409.

PROOF OF DEBTS. (See CKEDITORS.)

from date of winding-up order Statute of Limitations does not
run against creditors, but a creditor delaying to prove
cannot disturb previous dividends, note to s. 98, p. 327.
debts of all descriptions may be proved, s. 158, p. 369.
secured creditor may prove for whole amount due at time of
sending in his claim, ib. note.

PROOF OF DEBTS-(continued).

double proof against the same estate is not allowed, s. 158,
p. 389.

creditors of insolvent company entitled to dividends only on
what is due for principal and interest at commencement
of winding up, ib.

but a creditor having right of proof against two estates may
receive dividends from both, ib.

instances of allowance of contingent claim, ib.
indemnity of trustee for company, ib.

compensation to officer of company, ib.

mode of valuing life policies, ib. ; and see s. 5, of 35 & 36
Vict. c. 41, in App. III., p. 772.

rules as to proof of debts, 20-28, pp. 510-512. Rule 26
(as to the payment of interest) is ultra vires and invalid,
p. 511.

PROSECUTION. (See ACTION, DIRECTORS, and BREACH OF
TRUST.)

PROSPECTUS. (See MISREPRESENTATION.)

form of, 28.

misrepresentation in, dangers of, 28, 64-66.

contracts to be published in prospectus; 30 & 31 Vict. c. 131,
s. 38, p. 497.

observations on foregoing provisions, 221.

PROVIDENT SOCIETY,

required to publish statement of its assets and liabilities,
s. 44, p. 278.

PROVISIONAL COMMITTEE. (See COMMITTEE.)

PROVISIONAL LIQUIDATOR, s. 85, p. 315.

appointment of, ib., note, p. 316; Rules 15, 59, pp. 509, 521.

PROXY,

not allowed at common law, 97.

regulations of Table A respecting, Arts. 48-51, p. 431.

stamp on, note to Art. 48, p. 431.

mistake in form in Art. 51, p. 432.

observations as to allowing proxies, 140.

PUBLICATION,

of name by limited company, ss. 41-2. p. 275.
of contracts in prospectus. (See PROSPECTUS).

QUALIFICATION,

share qualification of directors, 43.

QUORUM. (See MEETINGS.)

law respecting, 93-96.

regulations of Table A as to Art. 37, p. 428, and see p. 140.
RAILWAY COMPANIES. (See ABANDONMENT OF RAILWAY.)
summary of legislation as to winding up of, 402-403.

RATIFICATION,

by company of contracts entered into by promoters before
its formation is unavailing, 47.

power of company to ratify acts of its agents the directors, 109.
in the case of an issue of shares, note to s. 12, p. 250.
it cannot ratify acts beyond the scope and objects of its
constitution, Addenda, p. 43.

RECOGNISANCE,

of official liquidator, rule 10, p. 508, and form 10, p. 532.
RECTIFICATION OF REGISTER. (See REGISTER.)
REDUCTION,

companies limited by shares may reduce their capital and,
the amount of shares, 30 & 31 Vict. c. 131, ss. 9-20,
pp. 480-486.

explanation of provisions, pp. 214-217.

time during which "and reduced" must be added to name
of company, note to s. 10, p. 480.

REGISTER. (See EVIDENCE, INSPECTION.)

of shareholders under Companies Clauses Act, 36, note (b).
of members, under Act of 1862, s. 25, p. 260.

observations on, 151-154.

is prima facie evidence, s. 37, p. 269.

trust cannot be recorded on, s. 30, p. 263.

closing register of members, s. 33, p. 264.

rectification of register of numbers, s. 35, p. 265, s. 98, p. 326.
question of extent of jurisdiction of the court under, note, p. 267.
where there is a fraud the court can act, ib.

in a difficult case the court may direct filing of a bill, ib.
cases in which jurisdiction has not been exercised, 82, 268.
form of removing name, note to s. 37, p. 269.

under s. 98 the court can rectify the register either before
or after the winding-up order, note to s. 98, p. 326; as to
costs see the same note.

REGISTER (continued).

of mortgages, s. 43, p. 276.

of directors of mutual companies, s. 45, p. 278.

of proceedings in winding up, App. I., pt. 2, Rule 37.

REGISTRAR,

Of Joint Stock Companies-

appointed by Board of Trade, s. 174, p. 383.

position and duties of, 195, note (α).

Of Friendly Societies—

is the registrar under the Industrial and Provident Societies
Act, 25 & 26 Vict., c. 87, s. 2, &c., p. 723, and see 30 & 31
Vict. 117.

REGISTRATION,

Of New Company-

mode of, s. 17, p. 254. (See AssOCIATION, MEMORANDUM OF

CERTIFICATE, and COMPANY.)

effect of, s. 18, p. 254.

fees on. (See FEES.)

Of Existing Company-

joint stock, mode of, s. 183, p. 393.

mutual, mode of, s. 184, p. 394.

effect of, s. 191, p. 396; s. 196, p. 398.

fees on. (See FEES.)

compulsory of certain companies, s. 209, p. 413.

forms for, App. II., pp. 715-718.

REGISTRATION OFFICE. (See p. 195 and s. 174, p. 383.)
REGULATIONS. (See ASSOCIATION, ARTICLES OF.)

distinguished from "conditions" in Companies Act, s. 12,
note p. 250.

REMUNERATION,

of official liquidators, s. 93, p. 321; regulation as to, p. 585.
not to be paid till costs of winding-up are satisfied, note
to s. 110, p. 337.

of voluntary liquidators, s. 144, p. 361.

REPEAL,

of Acts by Act of 1862, see part ix. of Act, p. 412.

note on repealed Acts, pp. 470-472.

sections re-enacted, pp. 472-474.