Bank not to lend money to foreign state. What shall be under this Act. XXVIII. It shall not be lawful for the Corporation hereby constituted, at any time whatever, directly or indirectly, to advance or lend to, or for the use of or on account of any Foreign Prince, Power or State, any sum or sums of money or any securities for money; and if such unlawful advance or loan be made, then and from thenceforth the said Corporation shall be dissolved, and all the powers, authorities, rights, privileges and advantages hereby granted shall cease and determine; any thing in this Act to the contrary notwithstanding. XXIX. The several public notices by this Act required to be a public notice given, shall be given by advertisement in one or more of the newspapers published in the City of Hamilton, and such other places as the Directors may from time to time appoint, and in the Canada Gazette, or such other Gazette as shall be generally known and accredited as the Official Gazette for the publication of official documents and notices emanating from the Civil Government of this Province. Books of sub scription may be opened in the United Kingdom or XXX. Books of subscription may be opened in the United States and in the United Kingdom and in France, and shares in the capital stock of the Bank may be issued and made transferable, and the dividends accruing may also be made payable in in France, and the said countries, in like manner as such shares and dividends are respectively made transferable and payable at the Bank in the City of Hamilton; and to that end, the Directors may from time to time make such rules and regulations, and prescribe such forms and appoint such agent or agents, as they may deem proper. shares made transferable there. How the trans❤ mission of shares other fer shall be authenticated. XXXI. If the interest in any share in the said Bank become transmitted in consequence of the death or bankruptcy or insolwise than by vency of any Shareholder, or in consequence of the marriage of regular trans- a female shareholder, or by any other lawful means than by a transfer according to the provisions of this Act, the Directors may require such transmission to be authenticated by a declaration in writing as hereinafter mentioned, or in such other manner as the Directors of the Bank shall require; and every such declaration or other instrument so signed, made and acknowledged, shall be left at the Bank, with the Manager or other officer or agent of the Bank, who shall thereupon enter the name of the party entitled under such transmission in the register of shareholders, and until such transmission shall have been so authenticated, no party or person claiming by virtue of any such transmission shall be entitled to receive any share of the profits of the Bank, nor to vote in respect of any such share or shares as the holder thereof; Provided always, that every such declaration and instrument as by this and the fol lowing section of this Act is required to perfect the transmis sion of a share of the Bank, and as shall be made in any other country than this or some other of the British Colonies in North America, or in the United Kingdom of Great Britain and Ireland, shall be further authenticated by the British Consul or Vice-Consul Vice-Consul, or other the accredited representative of the British Government, in the country where the declaration shall be made, or shall be made directly before such British Consul or Vice-Consul, or other accredited representative; And provided also, that nothing in this Act contained shall be held to debar the Directors, Manager or other officer or agent of the Bank from requiring corroborative evidence of any fact or facts alleged in any such declaration. XXXII. If the transmission of any share of the Bank be by If the transvirtue of the marriage of a female Shareholder, the declaration mission be by shall contain a copy of the register of such marriage or other marriage. particulars of the celebration thereof, and shall declare the identity of the wife with the holder of such share; and if the transmission have taken place by virtue of any testamentary instrument or by intestacy, the probate of the will or the letters of administration or of tutorship or curatorship, or an official extract therefrom, shall, together with such declaration, be produced and left with the Manager or other officer or agent of the Bank, who shall then enter the name of the party entitled under such transmission in the register of shareholders. in case of XXXIII. Whenever the interest in any share or shares of the Bank may apCapital Stock of the said Bank shall be transmitted by the death ply to Courts of any Shareholder or otherwise, or whenever the ownership doubt as to of, or legal right of possession in any such share or shares, legal owners shall change by any lawful means other than by transfer ac- of shares. cording to the provisions of this Act, and the Directors of the said Bank shall entertain reasonable doubts as to the legality of any claim to and upon such share or shares of stock, then and in such case it shall be lawful for the said Bank to make and file, in one of the Superior Courts of Law for Upper Canada, a declaration and petition in writing addressed to the Justices of the Court, setting forth the facts and the number of shares previously belonging to the party in whose name such shares stand in the Books of the Bank, and praying for an order or judgment adjudicating and awarding the said shares to the party or parties legally entitled to the same, and by which order or judgment the Bank shall be guided and held fully harmless and indemnified and released from all and every other claim for the said shares, or arising therefrom; Provided Proviso: as to always that notice of such petition shall be given to the party notice, pleadclaiming such share or shares, who shall upon the filing of such ing, &c. petition establish his right to the several shares referred to in such petition and the delays to plead and all other proceedings in such cases shall be the same as those observed in analogous cases before the said Superior Courts; Provided also, that the Proviso: as to costs and expenses of procuring such order and adjudication, costs. shall be paid by the party or parties to whom the said shares shall be declared lawfully to belong, and such shares shall not be transferred until such costs and expenses be paid, saving the recourse of such party against any party contesting his right. Bank not bound to see to trusts. Bank may invest part of vincial Debentures, &c. XXXIV. The Bank shall not be bound to see to the execution of any trust, whether express, implied or constructive, to which any of the shares in the Bank may be subject, and the receipt of the party in whose name any such share shall stand in the Books of the Bank, or if it stand in the names of more parties than one, the receipt of one of the parties, shall from time to time be a sufficient discharge to the Bank for any dividend or other sum of money payable in respect of such share, notwithstanding any trust to which such share may then be subject, and whether or not the Bank have had notice of such trust, and the Bank shall not be bound to see to the application of the money paid upon such receipt; any law or usage to the contrary notwithstanding. XXXV. It shall be the duty of the Directors of the said Bank to invest as speedily as the debentures hereinafter mentioned capital in pro- can be procured from the Receiver-General, and to keep invested at all times in the debentures of this Province, payable within the same, or secured upon the Consolidated Municipal Loan Fund, one tenth part of the whole paid up Capital of the said Bank, and to make a return of the numbers and amount of such debentures, verified by the oaths and signatures of the President and Chief Manager of the said Bank, to the Inspector General, in the month of January in each year, under the penalty of the forfeiture of the Charter of the said Bank, in default of such investment and return; Provided always, the said Directors shall not commence the ordinary business of banking until the sum of twenty thousand pounds shall have been invested in such debentures. Proviso. Duration of this Act. Public Act. that XXXVI. This Act shall be and remain in force until the first day of June, one thousand eight hundred and seventy, and from that time until the end of the then next Session of the Parliament of this Province, and no longer. XXXVII. This Act shall be deemed a Public Act. SCHEDULE A Referred to in the foregoing Act. For value received from , I (or we,) do hereby assign and transfer into the said shares, (on each of which has been paid shillings, currency, amounting to the sum of of pounds pounds, shillings,) in the Capital Stock of the Union Bank of Canada, subject to the rules and regulations of the said Bank. Witness my (or our) hand (or hands) at the said Bank, this in the year one thousand eight hundred day of and (Signature.) I (or we) do hereby accept the foregoing assignment of shares in the Stock of the Union Bank of Canada, assigned to me (or us) as above mentioned. Return of the average amount of liabilities and assets of the Union Bank of Canada, during the period from the first of one thousand eight hundred and to the last day of the said month. LIABILITIES. Promissory notes in circulation not bearing interest.... £ Cash deposits not bearing interest... Cash deposits bearing interest.. Total average liabilities. £ ..£ .£ £ £ , Other debts due to the Bank, not included under the fore going heads.. .£ Total average assets.........£ САР. СХХІІІ. An Act to incorporate the Colonial Bank of Canada. [Assented to 1st July, 1856.] WHEREAS John Major, James R. Boyd, and Amos Bost- Preamble. wick, have by their Petition prayed that they and their legal representatives might be incorporated for the purpose of establishing a Bank in the City of Toronto; And whereas such Bank would be conducive to the general prosperity of that section of the Country, and greatly facilitate and promote the agricultural and commercial growth of the said locality, and it is but 32 just Certain persons incorpor ated. just that the said persons and others who see fit to associate themselves, should be incorporated for the said purpose: Therefore, Her Majesty, by and with the advice and consent of the Legislative Council and Assembly of Canada, enacts as follows: I. The several persons hereinabove named, together with Alexander McKenzie Clark, John G. Bowes, George Boomer, George Duggan, Jr., John C. King, Samuel Sexton Pomroy, Genet Conger, J. Weatherly, and Ambrose White Thompson, and such other persons as may become Shareholders in the Company to be by this Act created, and their assigns, shall be and they are hereby created, constituted and declared to be a CorCorporate poration, body corporate and politic by the name of the "Colonial name and gen- Bank of Canada," and shall continue such Corporation, and eral powers. shall have perpetual succession, and a corporate seal, with power to alter and change the same at pleasure, and may sue and be sued, implead or be impleaded in all Courts of Law as other Corporations may, and shall have the power to acquire and hold real and immoveable estate for the management of Real property their business, not exceeding the yearly value of two thousand five hundred pounds currency, and may sell, alienate or exchange the same and acquire other instead, and may, when duly organized as hereinafter provided, make, ordain and establish By-laws may such rules, regulations and by-laws as to them shall seem meet and necessary for the due and proper administration of their affairs and the due management of the said Bank, such by-laws and regulations not being inconsistent with this Act, or contrary to the laws of this Province: Provided however, that such rules, regulations and by-laws shall be submitted for approval to the Stockholders or Shareholders in the said Bank, at their regular annual meetings. limited. be made. Proviso. .Capital, £500,000 in shares of £25. First general meeting. Election of II. The Capital Stock of the said Bank shall be five hundred thousand pounds of lawful money aforesaid, divided into twenty thousand shares of twenty-five pounds of like money each, which said shares shall be and are hereby vested in the several persons who shall subscribe for the same, their legal representatives and assigns. III. As soon as the sum of one hundred thousand pounds of the said Capital Stock shall have been subscribed and twentyfive thousand pounds actually paid in thereupon, it shall and may be lawful for the subscribers, or the majority of them, to call a meeting at some place to be named, in the City of Toronto, for the purpose of proceeding to the election of the number of Direc tors for the said Bank hereinafter mentioned, and such election shall then and there be made by a majority of shares voted upon, in the manner hereinafter prescribed in respect of the Annual election of Directors; and the persons then and there chosen shall be the first Directors, and shall be capable of Term of ser- serving until the first Wednesday of May then next ensning the said election; Provided always, that no such meeting of the vice. |