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after giving notice in that behalf to the companies respectively, the arbitrator, or the arbitrators or the umpire shall think fit so to proceed.

awards may

21. The arbitrator, and the arbitrators, and the Several umpire respectively may, if he and they respectively be made. think fit, make several awards, each on part of the matters referred, instead of one award on all the matters referred; and every such award on part of the matters shall for such time as shall be stated in the award, the same being such as shall have been specified in the agreement for arbitration, or in the event of no time having been so specified, for any time which the arbitrator may be legally entitled to fix, be binding as to all the matters to which it extends, and as if the matters awarded on were all the matters referred, and that notwithstanding the other matters or any of them be not then or thereafter awarded on.

made in due

22. The award of the arbitrator, or of the arbi- Awards trators, or of the umpire, if made in writing under time to bind his or their respective hand or hands, and ready to all parties. be delivered to the companies within such a time as the companies agree on, or, failing such agreement, within thirty days next after the matters in difference are referred to (as the case may be) the arbitrator, or the arbitrators, or the umpire, shall be binding and conclusive on all the companies (b).

(b) By 23 & 24 Vict. c. 3, s. 1, in schedule thereto, the Stamps payfollowing stamp duties are imposed upon an award in Eng- able on land and Ireland and award or decreet arbitral in Scotland,

viz.:

Where the amount or value of the matters in £ s. d. dispute shall not exceed 501.

.....

....

And where it shall exceed 501., and not exceed 1002.

0

6

awards.

0 5 0

And where it shall exceed 100l., and not exceed 2001.

....

0 10 0

And where it shall exceed 2001., and not exceed 5001.

0 15 0

And where it shall exceed 500l., and not exceed

7501.

1 0 0

And where it shall exceed 7501., and not exceed 1,000%.

1 5 0

And where it shall exceed 1,000l., and also all other cases not above provided for.....

1 15 0

Power for

umpire to extend period for making his award.

Awards not to be set aside for in

formality.

Awards to

be obeyed.

Agreements, arbitrations

and awards to have effect.

Costs of arbitration and award.

Payment of

costs.

23. Provided always, that (except where and as the companies otherwise agree) the umpire, from time to time by writing under his hand, may extend the period within which his award is to be made; and if it be made and ready to be delivered within the extended time, it shall be as valid and effectual as if made within the prescribed period.

24. No award made on any arbitration in accordance with this act shall be set aside for any irregularity or informality.

25. Except only so far as the companies bound by any award in accordance with this act from time to time otherwise agree, all things by every award in accordance with this act lawfully required to be done, omitted or suffered shall be done, omitted or suffered accordingly.

26. Full effect shall be given by all the superior courts of law and equity in the United Kingdom, according to their respective jurisdiction, and by the companies respectively, and otherwise, to all agreements, references, arbitrations and awards in accordance with this acts; and the performance or observance thereof may, where the courts think fit, be compelled by distress infinite (e) on the property of the companies respectively, or by any other process against the companies respectively or their respective property that the courts or any judge thereof shall direct, and where requisite frame for the purpose.

(c) The proper mode of proceeding against a corporation to enforce the remedy by indictment is by distress infinite, to compel appearance after removal by certiorari. See Reg. v. Birmingham and Gloucester Railway Company, 3 Q. B. 233; 9 Car. & P. 469; Shelford on the Law of Railways, pp. 579, 580, 3rd ed.

27. Except where and as the companies otherwise agree, the costs of and attending the arbitration and the award shall be in the discretion of the arbitrator, and the arbitrators and the umpire respectively.

28. Except where and as the companies otherwise agree, and if and so far as the award does not

otherwise determine, the costs of and attending the arbitration and the award shall be borne and paid by the companies in equal shares, and in other respects the companies shall bear their own respective

costs.

tion to be

of court.

29. The submission to any arbitration in accord- Submission ance with this act may at any time be made a rule to arbitraof any of her Majesty's superior courts of record at made a rule Westminster, or, as the case may be, at Dublin, on the application of any party interested; and the court may remit the matter to the arbitrator, or to the arbitrators, or to the umpire, with any directions the court think fit.

CRIMINAL OFFENCES BY DIRECTORS,

&c. OF PUBLIC COMPANIES.

Directors of any body corporate or public company fraudulently appro

perty (a).

THE statute 24 & 25 Vict. c. 96, to consolidate and amend the statute law of England and Ireland relating to larceny and other similar offences, contains the following provisions applicable to the subject of this work.

81. Whosoever, being a director, member or public officer of any body corporate or public company, shall fraudulently take or apply for his own use or benefit, or for any use or purposes other than the priating pro- use or purposes of such body corporate or public company, any of the property (b) of such body corporate or public company, shall be guilty of a misdemeanor, and being convicted thereof shall be liable, at the discretion of the court, to any of the punishments which the court may award as hereinbefore last mentioned (c).

Property.

(a) See 20 & 21 Vict. c. 54, s. 5.

(b) The term " property" shall include every description of real and personal property, money, debts and legacies, and all deeds and instruments relating to or evidencing the title or right to any property, or giving a right to recover or receive any money or goods, and shall also include not only such property as shall have been originally in the possession or under the control of any party, but also any property into or for which the same may have been converted or exchanged, and anything acquired by such conversion or exchange, whether immediately or otherwise.

Punishment. (c) The reference here is to the 75th section, whereby several other offences are made misdemeanors, which render the offenders liable, "at the discretion of the court, to be kept in penal servitude for any term not exceeding seven years, and not less than three years, or to be imprisoned for any term not exceeding two years, with or without hard labour, and with or without solitary confinement."

fraudulent

82. Whosoever, being a director, public officer or or keeping manager of any body corporate or public company, accounts (a). shall as such receive or possess himself of any of the property of such body corporate or public company otherwise than in payment of a just debt or demand, and shall, with intent to defraud, omit to make or to cause or direct to be made a full and true entry thereof in the books and accounts of such body corporate or public company, shall be guilty of a misdemeanor, and being convicted thereof shall be liable, at the discretion of the court, to any of the punishments which the court may award as hereinbefore last mentioned.

(a) See 20 & 21 Vict. c. 54, s. 6.

destroying

83. Whosoever, being a director, manager, public or wilfully officer or member of any body corporate or public books, &c.(b) company, shall, with intent to defraud, destroy, alter, mutilate or falsify any book, paper, writing or valuable security belonging to the body corporate or public company, or make or concur in the making of any false entry, or omit or concur in omitting any material particular, in any book of account or other document, shall be guilty of a misdemeanor, and being convicted thereof shall be liable, at the discretion of the court, to any of the punishments which the court may award, as hereinbefore last mentioned.

(b) See 20 & 21 Vict. c. 54, s. 7.

ing fraudu

84. Whosoever, being a director, manager or public or publishofficer of any body corporate or public company, lent stateshall make, circulate or publish, or concur in making, ments (c). circulating or publishing, any written statement or account which he shall know to be false in any material particular, with intent to deceive or defraud any member, shareholder or creditor of such body corporate or public company, or with intent to induce any person to become a shareholder or partner therein, or to intrust or advance any property to such body corporate or public company, or to enter

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