Act not other XLII. Any contravention of this Act by the said Company Any contraor any other party, for which no punishment or penalty is herein vention of this provided, shall be a misdemeanor, and shall be punished ac- wise punishcordingly, but such punishment shall not exempt the said Com- able, to be a pany (if they be the offending party) from the forfeiture of this misdemeanor. Act, and the privileges hereby conferred on them, if, by the provisions thereof, or by law, the same be forfeited by such contravention. rights and XLIII. Nothing herein contained shall affect or be construed Saving of Her to affect in any manner or way whatsoever, the rights of Her Majesty's Majesty, Her Heirs and Successors, or of any person or persons, those of other or of any bodies politic, corporate or collegiate, such only ex- persons. cepted as are herein mentioned. XLIV. This Act shall be deemed and taken to be a Public Public Act. Act, and as such shall be judicially taken notice of by all Judges, Justices of the Peace and others, without being specially pleaded. САР. СХІХ. An Act to amend the Act incorporating the Bond Head WE [Assented to 1st July, 1856.] HEREAS the President, Directors and Company of the Preamble. Bond Head Harbour Company, have by their Petition prayed that the name of the said Company may be changed to that of the "Newcastle Harbour Company," that the Stock of the said Company may be increased to Fifteen Thousand Pounds, that the period for completing the said Harbour may be extended to five years, and that authority may be given to the said Company to obtain a Loan of Five Thousand Pounds on the credit of the said Harbour and the Tolls thereof: Therefore, Her Majesty, by and with the advice and consent of the Legislative Council and Assembly of Canada, enacts as follows: I. From and after the passing of this Act, the corporate name Name of the of the said Company shall be the "Newcastle Harbour Com- Corporation pany," but such change of name shall not be construed to make changed. the said Company a new Corporation, or to alter its rights, or those of any other party. II. For and notwithstanding any thing contained in the tenth Capital Stock section of the Act of the Parliament of Upper Canada, incor- increased, not withstanding porating the said Company, passed in the first year of Her limitatio Majesty's Reign, and intituled, An Act to incorporate certain Act of U. C., persons under the style and title of the Bond Head Harbour 1 V. c. 31. 29 Company, Period for Company, the Capital Stock of the said Company may be increased to fifteen thousand pounds and the number of shares to sixteen hundred, and may be taken up in such manner as the Directors shall appoint: and the period limited by the said Act, constructing for completing the said Harbour, is hereby extended to the end of five years from the passing of this Act, and the said Company shall continue and be held to have continued, and the said Act shall be in force, and be held to have been in force. as if the period hereby limited had been limited in the said Act, instead of the period-mentioned in the fifteenth section thereof. works extend ed. Company may borrow £5,000. Proviso: in terest not to exceed 8 per cent. Recital. Village of Newcastle incorporated and described. III. The said Company shall have full power and authority to contract a loan of five thousand pounds from the Government, from any body corporate, or from any person willing to make such loan, and to give such security on the Harbour and Tolls as the party making such loan may require; Provided always, that the rate of interest shall not exceed eight per cent. per annum, and shall be payable half yearly at any of the chartered Banks of the Province at which it may be agreed upon to pay the same. IV. And whereas the Village of Newcastle will be greatly benefitted by the improvement of the said Harbour, and may afford assistance towards the completion thereof, if incorporated and authorized to do so; Be it therefore enacted, that upon, from and after the first day of January, one thousand eight hundred and fifty-seven, the said Village shall be incorporated by the name of Newcastle, and shall consist of lots twenty-five, twenty-six, twenty-seven, twenty-eight, twenty-nine and thirty, in the broken front and first Concession of the Township of Clark, and the south halves of the lots bearing the same numbers, in the second Concession of the said township, in the County of Durham. Upper Canada V. So much of the Upper Canada Municipal Corporations Municipal Acts as relates to incorporated Villages, shall, from and after Corporations Acts to apply the day last aforesaid, apply to the said Village of Newcastle, to it. which shall, as an incorporated Village, have and exercise ali and singular the rights, powers, privileges and jurisdiction which are thereby granted or conferred to or upon, or as shail by virtue of the said Acts, or of any other Act or Acts now in force or hereafter to be in force in Upper Canada, belong to incorporated Villages: and all the rules, regulations and enactments in the said Acts or any of them contained, or which shal in any wise apply to incorporated Villages, shall apply to the said Village of Newcastle, as fully as if it had become an incorporated Village under the ordinary operation of the said Upper Canada Municipal Corporations Acts, with the exception hereinafter made. Returning VI. The Municipal Council of the Township of Clark shal Officer at first and may at any time after the passing of this Act, appoint a fit election. person person to be a Returning Officer for holding the first Municipal Election under this Act, and the person so appointed shall, in the discharge of his duties as such Returning Officer, be subject to all the provisions of the Upper Canada Municipal Corporations Acts applicable to first Elections in incorporated Villages; Provided always, that at the first Election to be held in the said Proviso: quaVillage, the qualification of Electors and of Councillors shall be lification of the same as in Townships. VII. This Act shall be deemed a Public Act. САР. СХХ. An Act to amend and consolidate the Acts relating to the Commercial Bank of the Midland District, and to change its corporate name to the "Commercial Bank of Canada." W [Assented to 1st July, 1856.] electors at such election. Public Act. HEREAS the corporation now called and known as Preamble. "The Commercial Bank of the Midland District," was created and constituted by and under the Act of the Former Acts Legislature of Upper Canada passed in the second year of the cited. Reign of His late Majesty King William the Fourth, and inti tuled, An Act to incorporate certain persons under the style and Acts of U. C., title of the President, Directors and Company of the Com- 2 W. 4, c. 11. mercial Bank of the Midland District, which said Act was amended by the Act of the said Legislature passed in the third year of the same Reign and chaptered forty-two, and the 3 W. 4, c. 42. Act thereof passed in the fifth year of the same Reign and W. 4, c. 45. chaptered forty-five; And whereas the said Acts were again amended and the charter and privileges of the said Corporation were confirmed and extended by the Act of the Legislature of this Province passed in the sixth year of Her Majesty's Reign, and intituled, An Act to extend the charter of the Commercial Acts of CanaBank of the Midland District, and to increase its Capital da, 6 V. c. 26. Stock, which said Act hath since been amended and the privileges of the said Corporation have been further extended by he Act of the said Legislature passed in the ninth year of Her 9 V. c. 87. Majesty's Reign and chaptered eighty-seven, and by that of the said Legislature passed in the twelfth year of Her Majesty's 12 V. c. 170. Reign and chaptered one hundred and seventy, by which he corporate name of the said Bank was altered to "The Commercial Bank of the Midland District," and the said Acts were further amended and an increase of the Capital Stock of he said Corporation was authorized by the Act of the said Legislature passed in the eighteenth year of Her Majesty's 18 V. c. 42. Reign, chaptered forty-two; And whereas the said Corporation hath by its Petition prayed, that the provisions of the said several Acts may be consolidated with certain amendments and exensions of the powers and privileges thereby conferred, and hat the corporate name of the Bank may be altered as hereinafter 29 Inconsistent provisions of hereinafter mentioned; And whereas it is expedient to grant the prayer of the said Petition: Therefore, Her Majesty, by and with the advice and consent of the Legislative Council and Assembly of Canada, enacts as follows: I. So much of the Acts hereinbefore cited or of any of them. as may be inconsistent with or repugnant to the provisions of the said Acts this Act, or as makes any provision in any matter provided for by this Act, other than such as is hereby made, shall be and is hereby repealed. repealed. Name of Bank changed. Change not to affect any right of any party. Corporation continued. Powers. Real estate limited. Capital Shares £25 each. now unsub scribed for. II. The Corporation herein before mentioned shall hereafter be called and known as the Commercial Bank of Canada, which shall be the corporate name thereof, instead of the Commercial Bank of the Midland District, but such change of name shall not be construed to make the said corporation a new corporation. or in any way to affect any right or liability thereof, or any suit. action or proceeding pending at the time when this Act shal come into force, but the name assigned to the said Corporation shall be substituted, as of course, for its former name, in any subsequent record, document or writing in such suit, action, or proceeding. III. The said Corporation shall by the name hereby assigned to it, and during the time this Act shall remain in force, continue to have all, each and every of the rights, powers and authority in and by the Acts hereinbefore cited, or any of them, conferred upon or vested in it, subject always to the provisions of this Act; and shall continue to have perpetual succession and a common seal, with power to break, renew, change and alter the same at pleasure; and shall be capable of suing and being sued, pleading and being impleaded in all Courts of law and equity, and other places, in all manner of actions, causes and matters whatsoever; and for the convenient management of its business, but for no other purpose, shall and may purchase, acquire and hold real or immoveable estates and property, not exceeding the yearly value of five thousand pounds currency, and may sell, alienate and dispose of the same, and purchase, acquire and hold others in their stead, not exceeding in the whole the yearly value aforesaid. IV. The Capital Stock of the said Bank, (the words "the said Bank" meaning throughout this Act the Corporation aforesaid. shall be one million of pounds currency, divided into shares of As to shares twenty-five pounds currency, or one hundred dollars each; and s many of the said shares as may be unsubscribed for when the Act shall come into force, may be subscribed for either within or out of this Province, in such proportions or numbers, and at such times and places, and under such regulations, and at such rate of premium, to be paid by the subscribers over and above the amount of the shares, as the Directors of the said Bank shall from time to time establish; and the shares Instalments. subscribed able on sub subscribed for shall be paid in by such instalments, and at such times and places as the said Directors shall from time to time. appoint, and executors, administrators and curators paying instalments upon shares of deceased shareholders, shall be and are hereby respectively indemnified for paying and are required to pay the same : Provided always, that no share shall be Proviso: ten held to be lawfully subscribed for, unless the premium (if any) per cent. paywhich shall have been fixed by the Directors, and at least ten scribing. per centum on the amount of such share be paid at the time of subscribing And provided also, that no part of the Capital Proviso: time Stock unsubscribed for at the time when this Act shall come for subscribing limited. into force, shall be subscribed for after the end of five years from that time; and the whole of the stock subscribed for shall be called in before the thirty-first day of December, one thousand eight hundred and sixty-one; And provided further, that Proviso: Bank it shall not be obligatory upon the said Bank to raise the full not bound to amount of the Capital Stock hereby allowed, but the number raise the full capital. of shares to be thereafter subscribed for, may at any time be limited by a By-law of the said Bank, in such manner as the shareholders shall deem most advantageous for the interests of the Bank. V. If any person or party, subscribing for shares of the Ca- Subscribers pital Stock of the said Bank, shall also be willing to pay up may pay in at the time of subscribing the full amount of the shares sub- full, &c. scribed for, together with such premium thereon as aforesaid, it shall and may be lawful for the Directors of the Bank, and at any time within the period hereinbefore limited for subscribing for such Stock, to admit and receive such subscriptions and full payment, or payment of any number of instalments together with such premium; and in every case, the premium As to preso received on any Stock subscribed for, shall be carried to the miuin. account of the ordinary profits of the said Bank. VI. If any Shareholder or Shareholders, shall refuse or Forfeiture for neglect to pay any instalment upon his, her or their shares of non-payment the said Capital Stock, at the time or times required by the Di- of calls. rectors as aforesaid, such Shareholder or Shareholders, shall incur a forfeiture to the use of the said Bank, of a sum of money equal to ten pounds per centum on the amount of such shares; and moreover it shall be lawful for the Directors Sale of shares of the said Bank, (without any previous formality other than on which calls thirty days public notice of their intention) to sell at public are not paid. auction, the said shares or so many of the said shares as shall, after deducting the reasonable expenses of the sale, yield a sum of money sufficient to pay the unpaid instalments due on the remainder of the said shares and the amount of forfeitures incurred upon the whole; and the President, with the Vice-President or the Cashier of the said Bank, shall execute the transfer to the purchaser of the shares of Stock so sold, and such transfer being accepted, shall be as valid and effectual in law, as if the same had been executed by the original holder or holders of the |