ACTS OF THE LEGISLATURE OF THE PROVINCE OF MANITOBA Passed in the Session Held in the Fifth Year of the Reign of His Majesty. SECOND SESSION OF THE FOURTEENTH LEGISLATURE Begun and Holden at Winnipeg on the Ninth Day of February, 1915, and Closed by SIR DOUGLAS COLIN CAMERON, K.C.M.G. LIEUTENANT-GOVERNOR VOL. II-PRIVATE ACTS WINNIPEG, MANITOBA : PRINTED BY JAMES HOOPER, KING'S PRINTER FOR THE PROVINCE of Manitoba. A.D. 1915 CHAPTER 96. An Act respecting "The Bond and Debenture Corporation of Canada, Limited." [Assented to April 1st, 1915.] WHEREAS "The Canada Bond and Debenture Corpora- Preamble. tion, Limited," were incorporated by letters patent under the great seal of the Province of Manitoba, dated the twenty-first day of August, A.D. 1913, under "The Manitoba Joint Stock Companies Act"; and whereas the said company has by its petition represented that it is desirous of having its shareholders incorporated by an Act of the Legislative Assembly of the Province of Manitoba, and has prayed for such incorporation, 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. The shareholders of "The Canada Bond and Deben- Name. ture Corporation, Limited" (hereinafter referred to as the "old company"), and such others as may hereafter become shareholders in the company hereby incorporated (hereinafter referred to as the "new company"), are hereby constituted a body corporate under the name of "The Bond and Debenture Corporation of Canada, Limited," for the purpose and with the rights and powers and subject to the obligations and restrictions hereinafter declared. stock. 2. The capital stock of the new company shall be two Capital million dollars, divided into twenty thousand shares of one hundred dollars each. of old com shareholders in new com pany. 3. The shareholders of the old company are hereby Shareholders declared to be holders respectively of shares in the new com- pany are pany to the same extent, and with the same amounts paid up thereon, as they are holders respectively of shares in the old company, and shall be liable for any unpaid amounts thereon to the new company, and subject to the calling up thereof by the directors of the new company from time to time in all respects as if they were original shareholders in the new company. old company 4. The president, vice-presidents, secretary-treasurer, officers of officers and directors of the old company shall respectively be are officers the president, vice-presidents, secretary-treasurer, officers and pany. of new com New com pany to have directors of the new company until their successors are appointed, and the seal of the old company shall be the seal of the new company until another seal shall be adopted by the new company. 5. The by-laws, rules and regulations of the old company, shall be the by-laws, rules and regulations of the new company, subject to repeal, amendment or other change lawfully made. 6. The new company shall be liable for and subject to and shall pay, discharge, carry out and perform all the debts, liabilities, obligations, contracts and duties of the old company, and any person having any claim, demand, right, cause of action or complaint against the old company, or to whom the old company is under any obligation, liability, contract or duty, shall have the same rights and powers, with respect thereto and to the collection and enforcement thereof, from and against the new company, its directors and shareholders as such person has against the old company, its directors and shareholders. 7. Nothing in this Act contained or done in pursuance hereof shall take away or prejudice any claim, demand, right, security, cause of action or complaint which any person has against the old company, its directors or shareholders, from the performance of any debt, liability, obligation, contract or duty. 8. All the assets, credits, effects and property, real, personal and mixed, of whatever kind and wheresoever situated, belonging to the old company, or to which it is or may become entitled, including uncalled capital, and the full legal, equitable and beneficial estate, title and interest in and to the said assets, rights, credits, effects and property, and each and every part thereof, are hereby vested in the new company, its successors and assigns. 9. The new company is hereby empowered to pay out of capital, if necessary, all costs, charges and expenses incurred in applying for and obtaining this Act, and all other expenses preparatory or relating thereto, costs of organizing the new company, and commission and costs paid for selling stock or obtaining subscriptions for the same. 10. Except as hereby expressly varied the new company power of old shall have all the powers of the old company under the said company. letters patent of incorporation. |