CAP. XLI. An Act to make further Provision for the Establishment of Savings Banks for Seamen. ABSTRACT OF THE ENACTMENTS. (7th July 1856.) 1. Power to Board of Trade to establish savings banks for seamen. 2. Power to constitute shipping offices branch savings bank. 3. Commissioners for Reduction of National Debt to receive deposits and pay interest. 4. Board of Trade to make regulations for conduct of savings banks. 5. Application of deposits of deceased depositor. 6. Punishment for forgery or for making false representations in order to obtain deposits or interest. 7. Expenses of Act how to be defrayed. 8. Accounts and copy of regulations to be laid before Parliament. 9. Mode of criminal proceeding. By this Act, After reciting that by the Merchant Shipping Act, 1854, certain powers were given to the Commissioners for the Reduction of the National Debt for the purpose of establishing savings banks for seamen, and that it has since been found to be expedient that the immediate management and controul of such savings banks should be placed in the hands of the Board of Trade: It is Enacted as follows: 1. The Board of Trade may establish in London a central savings bank for seamen, together with branch savings banks at such ports and places in the United Kingdom as they may think expedient, and they may receive at such banks deposits from or on account of seamen, or the wives, widows and children of seamen, so, however, that the aggregate amount of deposit standing at any one time in the name of any one depositor shall not exceed 2001. 2. The Board of Trade may constitute any shipping office established under the Merchant Shipping Act, 1854, a branch savings bank for the purposes of this Act, and may require any shipping master belonging to such office to act as agent of the said Board in carrying this Act into effect, and his duties as such agent shall thereupon be deemed to be part of his duties within the meaning of the Merchant Shipping Act, 1854. 3. The Commissioners for the Reduction of the National Debt may from time to time, on the request of the Board of Trade signified by writing by one of the secretaries or assistant secretaries of such Board, receive from Her Majesty's Paymaster General the monies received by the said Board as deposits in savings banks established under this Act; and may also from time to time, on the like request signified in like manner, repay to Her Majesty's Paymaster General to the account of the said Board the monies so received by them as aforesaid; and the said Commissioners shall invest all monies so received by them as aforesaid in the same manner in which monies received from trustees of savings banks are invested by them, and shall pay to Her Majesty's Paymaster General, to the account of the Board of Trade, interest upon the monies so received by them as aforesaid so long as the same continue in their hands, at the same rate at which they pay interest for the time being upon the monies received by them from the trustees of savings banks. 4. The Board of Trade may make and from time to time alter such regulations as they may think fit with respect to the persons entitled to become depositors, to the making and withdrawal of deposits, the amount of deposits, the rate and payment of interest, the rights, claims and obligations of depositors, and with respect to all other matters incidental to carrying this Act into execution; and all regulations so made shall be binding on the parties interested in the subject-matter thereof to the same extent as if such regulations formed part of this Act; and no legal proceeding shall be instituted against the Board of Trade, or against any shipping master or other public officer employed on or about such savings banks, on account of any such regulations, or on account of any act done or left undone in pursuance thereof, or on account of any refusal, neglect or omission to pay any deposit or interest thereon, unless such refusal, neglect, or omission arise from fraud or wilful misbehaviour on the part of the person against whom proceedings are instituted. 5. All sums of money due from the Board of Trade to the estate of any deceased person entitled to any deposit in any savings bank established under this Act shall be paid and applied by such Board to the same persons to whom and in the same manner and subject to the same conditions on and subject to which the money and effects of a deceased seaman are payable and applicable under the provisions of the Merchant Shipping Act, 1854. 6. Every person who, for the purpose of obtain ing either for himself or for another, any money deposited in any savings bank established under this Act, or any interest thereon, forges, assists in forging, or procures to be forged, or fraudulently alters, assists in fraudulently altering, or procures to be fraudulently altered, any document purporting to shew or assist in shewing a right to any such money or interest, and every person who for the purpose aforesaid makes use of any such forged or altered document as aforesaid, or who for the purpose aforesaid gives or makes, or procures to be given or made, or assists in giving or making or procuring to be given or made, any false evidence or representation, knowing the same to be false, shall on conviction be punishable with penal servitude for a term not exceeding four years, or with imprisonment with or without hard labour, for any period not exceeding two years, or, if summarily prosecuted and convicted, by imprisonment, with or without hard labour, for any period not exceeding six months. 7. The Board of Trade may, out of the interest paid by the Commissioners for the Reduction of the National Debt on the monies paid to them under this Act, pay any expenses incurred in carrying this Act into effect. 8. An annual account of all deposits received and repaid by the Board of Trade under the authority of this Act, and of the interest thereon, shall be laid before both Houses of Parliament; and a copy of all regulations made by this Board under the authority of this Act shall likewise be laid before both Houses of Parliament. 9. All criminal proceedings under this Act shall be carried on in the same manner as similar proceedings under the Merchant Shipping Act, 1854, and all rules of law, practice, and evidence which are applicable to such last-mentioned proceedings shall be applicable to criminal proceedings under this Act. CAP. XLII. An Act to continue the Act for the Exemption of Stock in Trade from Rating. (7th July 1856.) By this Act, the 3 & 4 Vict. c. 89. is further continued until the 1st of October 1859, and to the end of the then next session of Parliament. CAP. XLIII. An Act to authorize Issues out of the Consolidated Fund for the Redemption of certain Annuities charged on Branches of the Gross Revenue. An Act for raising the Sum of Four Millions by Exchequer Bills and Exchequer Bonds, for the Service of the Year One thousand eight Hundred and fifty-six. 6. If full amount of 4,000,000l. in Exchequer bills is not issued, Exchequer bonds may be issued. 7. Interest on bonds, and repayment of principal money. 8. Treasury may cause Exchequer bonds to be prepared and issued. 9. Application of clauses 16, 17, 18, and 19. of 17 & 18 Vict. c. 23. 10. Money raised to be paid to the Consolidated Fund. 11. Exchequer bills and bonds may be delivered to persons authorized by the Treasury. 12. Bank of England may advance 4,000,000l. on the credit of bonds and bills, and Commissioners of National Debt may invest money on account of savings banks in purchase of bonds. CAP. XLV. An Act for confirming a Scheme of the Charity Commissioners for Saint Mary Magdalen Hospital near Bath. CAP. XLVI. (14th July 1856.) An Act to exempt Imprisonments under the Act 5 Geo. 4. c. 96. from the Operation of the Act abolishing in Scotland Imprisonment for Civil Debts of small Amount. An Act for the Incorporation and Regulation of Joint Stock Companies and other Associations. CONSTITUTION AND INCORPORATION OF COMPANIES AND ASSOCIATIONS. 3. Company formed by memorandum of association and registration. 5. Matters required to be prescribed by memorandum of association. 7. Form of memorandum of association. 8. Shares to be taken by subscribers of memorandum of association. 9. Special regulations may be prescribed by articles of association. 10. Form and effect of articles of association. 11. Stamp on memorandum of association and articles of association, and use of printed copies. 12. Registration of memorandum of association and articles of association. 13. Effect of registration. 14. Directors to be liable for debts if dividend be paid when the company is known by them to be insolvent. 15. Issue of shares by company. Register of Shareholders. General. Legal Instruments of Company. Execution of Examination of Affairs of Company. Notices. 26. Register to be evidence. 27. Copies of memorandum and articles of association to be given to shareholders. PART II. MANAGEMENT AND ADMINISTRATION OF COMPANIES. 28. Registered office of company. 29. Notice of situation of registered office. 30. Publication of name by a limited company. 31. Penalties on non-publication of name. 32. General meeting of the company. 33. Power of company to alter regulations by special resolution. 35. Registry of special resolutions. 36. Copies of special resolutions. 37. Notice to registrar of increase of capital. 38. Prohibition against holding land. 39. Prohibition against carrying on business with less than seven shareholders. 40. Evidence of proceedings at meetings. 41. Contracts, how made. 42. Execution of deeds abroad. 43. Promissory notes and bills of exchange. 44. Mortgages according to English law. 45. Bond and disposition in security according to Scotch law. 46. Conveyances according to English law. 47. Disposition in security according to Scotch law. 48. Examination of affairs of company by inspectors appointed by the Board of Trade. 49. Power of inspectors. 50. Result of examination, how dealt with. 51. Power of company to appoint inspectors. 52. Report of inspectors to be evidence. 53. Services of notices on company. 54. Rule as to notices by letter. 55. Authentication of notices of company. Legal Proceedings. {57. Application of penalties. Alteration of } 58. Board of Trade may alter forms in Schedule. PART III. Preliminary. Winding-up by WINDING UP. 59. Application of Part III. of the Act. 60. Definition of "the Court." 61. Liability of present shareholders in respect of debts. 62. Liability of former shareholders in a company other than a limited company with respect to debts. 63. Liability of former shareholders in a limited company with respect to debts. 64. Commencement of winding-up of company. 65. Definition of "contributory," and legal character of his liability. 66. Rights of contributories between themselves. 67. Circumstances under which company may be wound up by Court. 68. Company when deemed unable to pay its debts. 69. Application for winding up to be by petition. 70. Course to be pursued by Court on petition of a creditor. 71. Order for winding-up company on creditor's petition. 74. Power of Court of Chancery to remit winding-up to Court of Bankruptcy. 82. Power of Court to make calls. 83. Payment of money into the Bank. 84. Power of Court to grant injunction or interdict. 85. Power of Court to stay proceedings. 86. Power of Court to adjust rights of contributories. 87. Power of Court to order costs. 88. Appointment of official liquidators. 89. Style and duties of official liquidators. 90. Powers of official liquidators. 91. Appointment of solicitor to official liquidators. 92. Remuneration of official liquidators. 94. Registrar to make minute of dissolution of company. 95. Power of Lord Chancellor of Great Britain to make rules. 96. Power of Lord Chancellor of Ireland to make rules. 97. Power of Court of Session in Scotland to make rules. 98. Power of Vice- Warden of Stannaries to make rules.-Court of Stannaries.-Service of process.-Appeal in cases of winding-up. 99. Power of Commissioners of Bankruptcy to make rules. 100. Rules with respect to fees. 101. Special Commissioners for receiving evidence. 102. Circumstances under which company may be wound up voluntarily. 103. Notice of resolution to wind up voluntarily. REPEAL OF FORMER ACTS, AND TEMPORARY PROVISIONS. 107. Repeal of 7 & 8 Vict. c. 110, 10 & 11 Vict. c. 78, and 18 & 19 Vict. c. 133. 108. Provisions of 11 Vict. c. 45, 12 & 13 Vict. c. 108, 7 & 8 Vict. c. 111, and 8 & 9 Vict. c. 98., not to apply to companies registered under this Act, &c. 110. Registration of existing companies. 111. Requisitions for registration by existing companies. 112. Authentication of statements of existing companies. 113. Certificate of registration of existing companies. 114. Power of company to change name. 115. Certificate to be evidence of compliance with Acts. 116. Saving rights of creditors. |