shares other

XXXII. If the interest in any share in the said Bank become Proof of transtransmitted in consequence of the death or bankruptcy or in- mission of solvency of any Shareholder, or in consequence of the marriage wise than by of a female shareholder, or by any other lawful means than by regular trans a transfer according to the provisions of this Act, the Directors fer. 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 icknowledged, shall be left at the Bank, with the Cashier or other officer or agent of the Bank, who shall thereupon enter he name of the party entitled under such transmission in the egister of shareholders; and until such transmission shall have een 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 hare or shares as the holder thereof; Provided always, that Proviso: How very such declaration and instrument as by this and the fol- the declaration owing section of this Act is required to perfect the transmission thenticated in of a share of the Bank, as shall be made in any other coun- certain cases. ry than in this or some other of the British Colonies in North America, or in the United Kingdom of Great Britain and reland, shall be further authenticated by the British Consul or Vice-Consul, or other the accredited representative of the British Government in the country where the declaration shall e made, or shall be made directly before such British Consul r Vice-Consul, or other accredited representative; And pro- Proviso. ided also, that nothing in this Act contained shall be held to ebar the Directors, Cashier or other officer or agent of the lank, from requiring corroborative evidence of any fact or facts lleged in any such declaration.

shall be au

XXXIII. If the transmission of any share of the Bank be by If the transirtue of the marriage of a female Shareholder, the declaration mission be by hall contain a copy of the register of such marriage or other marriage. articulars of the celebration thereof, and shall declare the dentity of the wife with the holder of such share; and if the ransmission have taken place by virtue of any testamentary nstrument or by intestacy, the probate of the will or the letters. f administration or of tutorship or curatorship, or an official xtract therefrom, shall, together with such declaration, be roduced and left with the Cashier or other officer or agent of ie Bank, who shall then enter the name of the party entitled nder such transmission in the register of shareholders.

XXXIV. Whenever the interest in any share or shares of the Decision of Capital Stock of the said Colonial Bank of Canada shrl be trans- Superior Courts may be itted by the death of any Shareholder or otherwise, whenever had as to cone ownership or legal right of possession in any such share or tested claims hares shall change, by any lawful means other than by transfer to shares. ccording to the provisions of this Act, and the Directors of the aid Bank shall entertain reasonable doubts as to the legality

of

of any claim to and upon such share or shares of stock, ther and in such case it shall be lawful for the said Bank to mak 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 numberd shares previously belonging to the party in whose name such shares stand in the Books of the Bank, and praying for a 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 always that notice of such petition shall be given to the party claiming such share or shares, who shall upon the filing of such petition establish his right to the several shares referred to in such petition: and the delays to plead and a other proceedings in such cases shall be the same as those observed in analogous cases before the said Superior Courts. Proviso as to Provided also, that the costs and expenses of procuring suct order and adjudication, 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.

Proviso: Notice to be given.

costs.

Bank not bound to see to truste.

As to shares held jointly.

Bank to invest

one tenth of

bentures.

XXXV. 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 appl:cation of the money paid upon such receipt; any law or usage to the contrary notwithstanding.

XXXVI. It shall be the duty of the Directors of the said Bank to invest, as speedily as the debentures hereinafter mentioned its paid up can be procured from the Receiver General, and to keep invested capital in proat all times in the debentures of this Province, payable within vincial and municipal De- the same, or of 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 ainount of such de bentures, verified by the oaths and signatures of the President and Chief Cashier or Manager of the said Bank, to the Inspector General, in the month of January of each year, under the penalty of the forfeiture of the Charter of the said Bank, default of such investment and return; Provided always, that the said Directors shall not commence the ordinary business

Proviso.

of

of banking until the sum of ten thousand pounds shall have been invested in such debentures.

XXXVII. This Act shall be and remain in force until the first Duration of day of June, which will be in the year of Our Lord one thousand this Act. 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.

XXXVIII. This Act shall be deemed a Public Act.

FORM OF SCHEDULE A
Referred to in the foregoing Act.

For value received from

of

do hereby assign and transfer unto the said

shares, (on each of which has been paid shillings, currency, amounting to the sum of

I, (or we,)

pounds

pounds,

shillings,) in the Capital Stock of the Colonial 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 of Our Lord one thousand

day of

eight hundred and

I (or we) do hereby accept the foregoing assignment of shares in the stock of the Colonial Bank of Canada, assigned

to me (or us) as above mentioned.

Public Act.

Referred to in the foregoing Act.

Return of average amount of liabilities and assets of the Co-
lonial Bank of Canada, during the period from first
one thousand eight hundred and

to

LIABILITIES.

Promissory notes in circulation not bearing interest....£
Bills of exchange in circulation not bearing interest....£

Bills and notes in circulation bearing interest....

£

Balances due to other Banks....

£

Other debts due to the Bank, not included under the

foregoing heads.....

..£

Total average assets....

£

CAP. CXXIV.

Preamble.

An Act to incorporate the Canada Marine Insurance
Company.

W

[Assented to 1st July, 1856.]

HEREAS the formation and establishment of Marine and Inland Navigation Insurance Companies is of great public utility, and is necessary to the prosperity of the trade of this Province; And whereas the several persons hereinafter named are willing and desirous to establish and maintain such a Company, but the same cannot be effected without the aid of the Legislature: Therefore, Her, Majesty, by and with the advice and consent of the Legislative Council and Assembly of Canada, enacts as follows:

Incorporation I. The Honorable George Moffatt, Joseph Knapp, James of Company. Mitchell, Donald Lorn McDougall, Hugh Allan, Louis Renaud, M. H. Seymour, H. H. Whitney, H. L. Routh, Thomas Morland, Wolfred Nelson, John Ogilvy, D. Lewis, J. J. C. Abbott, N. S. Whitney and C. C. Abbott, and every other person who shall hereafter become a Shareholder of the said Company shall be, and are hereby united into a Company, for making and effecting Inland Navigation and Marine Insu rances, according to the rules and directions hereinafter menDuration and tioned, and for that purpose shall be a body corporate until the first day of January, One thousand nine hundred and sixty, under the name of the Canada Marine Insurance Company.

corporate

name.

Power and

authority to make Insurances on

vessels and goods by

water.

II. The said Company shall have power and authority to make, with any person or persons, all and every Insurances connected with Marine risks and risks of navigation, and transportation by water, against loss or damage of or to any Vessel, Steamer, Boat, or other Craft, either sea-going or navigating upon Lakes, rivers, or navigable waters-and of, or to, any Cargo, Goods, Wares and Merchandizes, Specie, Bullion, Jew ells, Bank-notes, Bills of Exchange, and other evidences d debts, conveyed therein, and of, and to, any Timber, or other property of every description, borne or carried by water, and

of,

of, and to, any freight, profit, commission, bottomry, or respondentia interest, and to cause themselves to be reinsured when deemed expedient, against any loss or risk on which they have made or may make Insurance, and generally to do and perform all other necessary matters and things relating to such objects.

estate to a

III. The said Company shall have power and authority to Power to take purchase, have and hold, to them and their successors, any real or or hold real immoveable estate, lands and tenements, which shall be ne- limited extent, cessary for their immediate accommodation, and the transac- and for certion of their business, and the same to sell and dispose of, and tain purposes. others to acquire as may be deemed expedient; and to take and hold any real estate bona fide mortgaged and hypothecated to the said Company by way of security, or conveyed to them in satisfaction or payment of any debt previously contracted in the course of their dealings, or purchased at any sale under any judgment, order or decree of Court, which may have been obtained for such debts, or by virtue of any proceeding at law, or acquired by purchase to avoid a loss to the said Company through prior claims, and to hold the same for a period not exceeding five years, during which time the said Company shall be bound to sell or dispose of, and convert the same nto money or property authorized to be held by virtue of this Act.

IV. It shall be lawful for the said Company to invest their Company may funds, or any part thereof, in loans on Public or Landed Se- invest their capital, and urities, and the same to call in and reloan as occasion may re- in what se quire, and as may be deemed expedient by their Directors curities. rom time to time, and in the purchase of Public Securities, Stocks of chartered Banks or other chartered Companies, the onds and debentures and the other evidences of debt of he Government, Municipal Debentures or Debentures issued by he Government of Canada in exchange for those of any incorDorated Town, City or Municipality of the said Province of Caada,-the shares of ships, steamers or vessels, or bottomry onds, and to sell and transfer the same; Provided always, Proviso: hat the said Company shall not deal in any goods, wares or merhandizes other than such as they shall become possessed of y virtue of any insurance made thereon, or which may be bandoned to them.

V. The Capital of the said Company shall be formed by, Capital Stock nd consist of, twenty thousand shares of twenty-five pounds and shares. ach, and the said Capital Stock with the property of the Comany, and the Notes, Bills and Securities of special partners ereinafter described, shall be held liable for the payment of Il engagements, losses or damages that may from time to me occur, and be justly claimed from, or charged upon, the aid Company.