ACT No. I. OF 1838. Repealed by Act XVI. 1844, and I. 1852. ACT No. II. OF 1838. Repealed by Act XIV. 1843. ACT No. III. OF 1838. Repealed by Act XVII. 1862. ACT No. IV. OF 1838. The Sudder Court may send to the zillah Court for trial any person committing perjury before it. It is hereby enacted, that, if it shall appear to the Court of Sudder Adawlut of Bombay, that any person has been guilty of perjury in any matter depending in that Court, that Court may immediately commit the offender to custody, and transmit him to the zillah Court nearest to the Presidency in order to his being brought to trial before the Session Court of the zillah in which such zillah Court is situated: and such person shall be dealt with in the same manner, as if the perjury had been committed within the limits of the local jurisdiction of such Court of Session. ACT No. V. OF 1838. 1. Persons named in Schedule 1, to form a corporate body by the name of the Bengal Bonded Warehouse Association. 2. The Association to sue and be sued by its corporate name and may acquire, hold and transfer any property. 3. The capital stock to be Rs. 10,00,000 subscribed in 2,000 shares of 500 Rs. each. BOMBAY, BENGAL. 4. Names, &c., of proprietors of shares to be registered in a book open to general inspection during business hours. 5. Directors to sign a certificate to every proprietor either for each share, or for all his shares. 6. Shares may be transferred by endorsement of proprietor or his attorney, but transfer not to be valid until registered. 7. Proprietor not to be a member of the corporation after ceasing to be proprietor and vice versâ. 8. Business to be managed by six directors. 9. Director removeable by general meeting of proprietors. 10. Two directors to go out of office by rotation every year, and not to be re-eligible for a year. 11. If director cease to be so otherwise than by rotation, his successor to be appointed by an extraordinary general meeting. 12. Repealed by Act V. 1854. 13. No one to be director unless resident in Bengal. 14. Repealed by Act V. 1854. 15. Ordinary general meetings may be adjourned to any day. 16. Extraordinary general meeting to be held according to the bye-laws, but not without fourteen days' notice published in two Newspapers. 17. Questions at general meeting to be decided by majority of votes, the voter to possess at least two shares registered for two months. 18. No one to have more than eight votes. Scale of voting. 19. Joint proprietors to have one vote jointly. 20. Proprietors may vote by proxy in writing, general or special. 21. Directors may expend money, make contracts, appoint and remove servants, and generally manage subject to Bye-laws; may keep seal, but not to affix it except in presence of three directors signing. 22. Directors may call for instalments up to 50 per cent. on each share. No further call to be made except by vote of a general meeting. 23. Interest at 10 per cent. to run on unpaid calls, and dividend may be applied in satisfaction of the same. 24. Directors may refuse to register transfer of any share of a proprietor who has not paid up, and may sell unpaid shares, giving purchaser a new certificate, and cancelling former certificates. 25. Act XXV. 1836 to apply to the Association's warehouses. 26. Association may give general security by bond under seal for payment of import and export duties. 27. Directors to fix rates for warehousing and receiving goods. 28. Secretary to sign and deliver warrant in Form contained in Schedule 2 to person lodging goods. Such warrant to be transferable by endorsement. 29. Association to be sued only in the Supreme Court. 30. Joint stock of the Association to be personalty or chattel interests, and not realty. 31. Proprietors not to be personally liable. Claimants and decreeholders to recover only out of the property of the Association. 32. Repealed by Act V. 1854. 33. Association may increase its capital stock by vote of two extraordinary general meetings specially convened, three months after each other. 34. Original proprietors to have option of subscribing rateably within one year for the increased capital stock. 35. Rules as to original, to be applicable to additional stock. 36. In case of sale of premises purchased from East India Company, the latter to have right of pre-emption. Price to be fixed by appraisers. 37. Repealed by Act V. 1854. 38. Association may be dissolved by vote of two-thirds of proprietors in number and value, at two successive special meetings held at intervals of a word a hos three months. athinda wot the property of the Association to be converted into money, and surplus nturial 39. On dissolution either by Governor-General in Council or by vote, after satisfaction of debts to be divided. Schedule I. List of proprietors. Schedule II. Warrant of deposit. I. It is hereby enacted, that the persons whose names appear in the Schedule No. 1 hereunto annexed shall, from the 14th day of March, 1838, form a corporate body for the warehousing of goods, either in bond or otherwise, by the name of the Bengal Bonded Warehouse Association. II. And it is hereby enacted, that the said Association shall sue and be sued by its corporate name, and shall use such common seal as the directors of the said Association shall from time to time appoint, and may acquire, may hold absolutely, may hold by way of pledge, and may transfer any description of property whatever. Su 12991 Capital, Rs. 10,00,000 shares, III. And it is hereby enacted, that the sum of 10,00,000 Rupees, subscribed for the purposes of the said Association by Rs. 500 each. the persons hereby incorporated, shall be the capital stock of the said Association, and shall be divided into 2,000 shares of 500 Rupees each, and that every one of the persons hereby incorporated shall have one share of such capital stock for every 500 Rupees which such person shall have subscribed. Names, &c. of proprietors to be registered in a book open to general inspection during business hours. Proprietor to receive a certificate signed by three Directors for all, or for any number of his shares Shares to be endorsement and registry. IV. And it is hereby enacted, that the directors of the said Association shall cause the names, additions, and places of residence of the proprietors of shares in the said capital stock, and the number of shares held by each proprietor, to be registered in a book, and the said shares shall in such book be numbered, beginning from No. 1, and such book shall be kept at the office of the said Association, and shall there be open to the inspection of all persons during the usual hours of business. V. And it is hereby enacted, that a certificate signed by three directors of the said Association shall be delivered to every proprietor of the said capital stock, and that it shall be at the option of every proprietor of several shares to receive one certificate for all the shares of such proprietor, or one certificate for each of those shares or several certificates, each of which may be for any number of those shares. VI. And it is hereby enacted, that any share or shares transferable by of the said capital stock may be transferred by indorsement made on the certificate for such share or shares by the proprietor of such share or shares, or by the Attorney of such proprietor duly authorized thereunto; provided always, that such indorsement shall specify the name of the party to whom the transfer is made; and provided also, that no such indorsement shall be effectual to transfer any such share or shares until such indorsement shall have been registered in a registry to be kept for that purpose at the office of the said Association, and until a note of such registration, and of the date thereof, shall have been made on the back of the indorsed certificate under the hand of an officer appointed for that purpose by the directors of the said Association. Proprietor not to be a member of the corporation after ceas. ing to shares-and vice versa. VII. And it is hereby enacted, that every proprietor of a share of the said capital stock who shall cease to be a hold proprietor of such stock, shall cease to be a member of the corporation created by this Act; and that every person who shall become a proprietor of the said capital stock, shall become a member of the 'corporation created by this Act; and shall, in respect of his share or shares of the said capital stock, be under the same liabilities under which an original proprietor of the said capital stock, would be. Business to be managed by six VIII. And it is hereby enacted, that the business of the re Director movable by ge IX. And it is hereby enacted, that every Director of the said Association may be removed by a general meeting of the neral meeting. proprietors, and that every future Director of the said Association shall be elected by such a general meeting. Two Directors to go out of office by rotation every year and not to a year. X. And it is hereby enacted, that a rotation among the Directors of the said Association shall be settled by lot, so that two of the said Directors may go out of office on the be re-eligible for Monday following the 15th day of May in every year, and that on the Monday following the 15th day of May in every year a general meeting of proprietors, shall be held, at which two Directors shall be chosen, and that no Director going out by such rotation shall be capable of being re-elected, till the Monday after the 15th of May in the year next following. XI. And it is hereby enacted, that if any Director of the said Association shall cease to be a Director, otherwise than by the operation of the rule of rotation aforesaid, the Directors of the said Association shall, with all convenient speed after such public notice as is hereinafter directed, call an extraordinary general meeting of the proprietors for the purpose of choosing a successor, and such successor shall come into the same place in the rotation aforesaid in which the Director whom he has succeeded was. XII. Repealed by Act V. 1854. XIII. And it is hereby enacted, that no person shall be capable of being a Director of the said Association, unless he If Director cease to be so otherwise than by rotation, his successor to be extraordinary appointed by an meeting. No one to be Director unless resident in Ben gal. |