cninery, plants, books, stationery, pictures, and musical instruments.] 6. To obtain any Act of Parliament for effectuating the objects of the company or any of them. 7. To borrow, &c. [Ut supra, p. 105, No. 9.] 8. To [accept bills, 9. To invest, &c. 10. To sell, &c. 11. To do all, &c. [Ut supra, p. 108, No. 18.] Objects. XXXIII. ACCIDENT INSURANCE. 1. To insure against death, or injury to health or limb, by A cident accident or misadventure of any kind.. Query whether such a company is not a life assurance company within the Acts mentioned (supra, p. 113, note to paragraph 2). The Registrar holds that it is not, and accordingly will register without requiring the deposit of 20,000l. to be made. 2. To assure payment during sickness or incapacity arising from any such accident or misadventure as aforesaid. 3. To purchase, or otherwise acquire, and undertake, all or any part of the business, property, and liabilities, of any other company whose objects shall be altogether or in part similar to those of this company, and to take, or otherwise acquire, and hold, shares in any such company. 4. To purchase, &c. [Ut supra, p. 105, No. 8.] insurance company. XXXIV. GUARANTEE. 1. To carry on the business of a guarantee company in all Guarantee company. Objects. its branches, and, in particular, to issue policies guaranteeing the fidelity of persons filling or about to fill situations of trust or confidence, and to guarantee the payment of rents, and the performance of contracts of all kinds. 2. To purchase and undertake all or any part of the business, property, and liabilities, of any other guarantee company. 3. To purchase, &c. [Ut supra, p. 105, No. 8.] 4. To borrow, &c. [Ut supra, p. 105, No. 9.] 5. To [accept bills, &c., ut supra, p. 106, No. 10]. 6. To construct, &c. [Ut supra, p. 112, paragraph 6.] Patents company. XXXV. PATENTS. 1. To purchase the following patents, or any of them, namely, &c. and any improvements on the several inventions specified in the said letters patent respectively. 2. To do all such things as may be deemed expedient for obtaining the full benefit of the patents and inventions for the time being belonging to the company, or in which it is interested, with full power to grant licences, and to manufacture, sell, and let, apparatus for the application of the said inventions. ings to be used for public meetings, concerts, assemblies, and the like, also as a corn exchange, and for such other purposes as may be determined; and to erect offices, shops, warehouses, and refreshment rooms, under, or adjoining, or in connection with, the said buildings. Objects. XXXVII. MUTUAL MARINE INSURANCE. insurance company. 1. To insure upon the mutual principle against every de- Mutual ship scription of marine risk which may be lawfully undertaken, ships, vessels, and craft of all kinds, in which the members of the company are interested as owners, managing-owners, mortgagees, agents, or otherwise. 2. To borrow money upon such securities as may be determined. 3. To purchase, take on lease, hire, or otherwise acquire, any real or personal property necessary or convenient for the purposes of the company. 3. To [accept bills, &c. ut supra, p. 106, No. 10]. It was formerly thought that mutual insurance societies were not to be considered as formed with a view to gain, so as to require, if consisting of more than twenty members, to be registered under the Act of 1862. See Section 4 of the Act. Buckley, p. 3; Arnould on Marine Insurance, 4th ed., Vol. I., p. 140. But in the recent case of Ex parte Hargrove & Co., 10 Ch. 542, the Master of the Rolls decided that a mutual insurance society, the rules of which, so far as material to the question, were in the ordinary form, was within Section 4 of the Act, and not having been registered was an illegal association. Since this decision, nearly 100 mutual insurance societies have been registered. Their objects, for the most part, are the insurance of vessels or freight. In most cases only a particular class of vessels is insured, e.g., iron steamships, or vessels of not less than 1000 tons burden, or vessels engaged in Objects. a particular trade, e.g., the coal trade. The mutual system is sometimes applied in other cases, e.g., to the insurance of cattle. There will be found, infra, a form of articles for a mutual insurance company (iron steamships) having unlimited liability. It can readily be adapted to the case of a company limited by guarantee, and it seems more prudent to limit the liability. Nevertheless, such societies very commonly register with unlimited liability. Perhaps the reason in some cases is the objection to tacking the word "Limited " to the name. Of course the rules of such societies vary considerably in detail. If it is desired to insure vessels of several classes, and also freight, &c., it will be found best to form a separate company for each class, and not, as is sometimes done, to create several clubs within one company. Forms. MISCELLANEOUS FORMS. Some of the following Forms are occasionally inserted in the objects clause of memoranda : 1. To acquire by grant, purchase, or otherwise, concessions of any rights, property, or privileges from any government, British, colonial, or foreign, and to perform and fulfil the terms and conditions thereof. 2. To receive monies on deposit at interest or otherwise. 3. To promote and form other companies for all or any of the objects mentioned in this memorandum, and to transfer to any such company any property of the company, and to take or otherwise acquire and hold shares, debentures, or other securities in or of any such company, and to subsidise or otherwise assist any such company. 4. To promote or establish any new companies for commercial, trading, manufacturing, engineering, mining, or financial purposes, either in the United Kingdom or elsewhere, and to take or otherwise acquire and hold the shares, stock, debentures, or other securities in or of any such company. 5. To transact, on commission, the general business of a land agent. 6. To transact any business of a merchant or capitalist, either as principal or agent. 7. To transact every description of banking, discount, exchange, commercial, mercantile, and financial business. 8. To issue, on commission or otherwise, and to subscribe for and take, acquire and hold shares, stocks, bonds, obligations, debentures, and securities of any other company. 9. To conduct and manage the business and affairs of any other companies or persons, whether such businesses be commercial, financial, or otherwise. 10. To make advances on stock, shares, or other securities, and on property of all kinds, either with or without the borrower's personal security. 11. To negotiate loans, manage properties, collect and receive rents, and transact all manner of agency and commission business. 12. To buy and sell, on its own account or otherwise, all kinds of property, real or personal, movable or immovable. 13. To enter into arrangements, under the Act 28 & 29 Vict. c. 86, for sharing profits with any person, partnership, or company carrying on any financial, commercial, or other business. 14. To lend and invest money, whether belonging or entrusted to this company. 15. To give such guarantees in relation to the shares, stocks, or obligations of any company as may be determined. 16. To guarantee the performance of any contracts or obligations. 17. To re-issue any stocks, shares, debentures, or other securities, with or without the guarantee of the company. 18. To secure, by guarantee or otherwise, the repayment of monies invested on securities, whether such investments be made through the agency of this company or not. 19. To guarantee the payment of interest on monies so invested. 20. To procure the company to be registered or incorporated in any colony or foreign state. Forms. |