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lxiv

Porn 111

ADDENDA.

9th line-See Fountain's Case (13 W.

[blocks in formation]

the Courts.

The first question which arises on proceeding Definition of to wind up a Company is in what Court the Company must be wound up. To answer this the following section of the Act of 1862 must be referred to:

81. The expression "the Court," as used in this part (4) of this Act, shall mean the following authorities; (that is to say,)

In the case of a Company engaged in working any mine within and subject to the jurisdiction of the Stannaries, the Court of the Vice Warden of the Stannaries, unless the Vice Warden certifies that in his opinion the Company would be more advantageously wound up in the High Court of Chancery, in which case "the Court" shall mean the High Court of Chancery:

* The expressions "the Act" and "the Act of 1862," throughout this work, mean The Joint Stock Companies Act, 1862, and the expression "rule," unless otherwise specified, means one of the rules under the General Order of 11th November, 1862.

B

In the case of a Company registered in England that is not engaged in working any such mine as aforesaid,— the High Court of Chancery:

In the case of a Company registered in Ireland, the Court of Chancery in Ireland:

In all cases of Companies registered in Scotland, the Court of Session in either division thereof:

may,

Provided that where the Court of Chancery in England or Ireland makes an order for winding up a Company under this Act, it if it thinks fit, direct all subsequent proceedings for winding up the same to be had in the Court of Bankruptcy having jurisdiction in the place in which the registered office of the Company is situate; and thereupon such last mentioned Court of Bankruptcy shall, for the purposes of winding up the Company, be deemed to be "the Court" within the meaning of the Act, and shall have for the purposes of such winding up all the powers of the High Court of Chancery, or of the Court of Chancery in Ireland, as the case may require.

Clause 2 of the above section applies to all Companies registered in England that are not engaged in working any mines within and subject to the jurisdiction of the Stannaries. This includes not only Companies formed and registered under the Act of 1862, but by reason of the sections next referred to, Companies formed and registered under the Joint Stock Companies Acts as defined in section 175, Companies formed before the last mentioned Acts but registered thereunder, and Companies formed before or since the last mentioned Acts, but registered under the Act of 1862 only, that are not engaged in working such mines.

By sections 176 and 177 the Act is to apply to Companies formed and registered, or registered only, under the Joint Stock Companies Acts, in

both cases with some special reservations stated therein.

Stock Com

Acts.

175. The expression "Joint Stock Companies Acts," Definition of as used in this Act, shall mean "The Joint Stock Com- the Joint panies Act, 1856," "The Joint Stock Companies Acts, panies Acts. 1856, 1857," "The Joint Stock Banking Companies Act, 1857," and "The Act to enable Joint Stock Banking Companies to be formed on the principle of limited liability," or any one or more of such Acts as the case may require; but shall not include the Act passed in the eighth year of the reign of Her present Majesty, chapter one hundred and ten, and intituled" An Act for the Registration, Incorporation, and Regulation of Joint Stock Companies." 176. Subject as hereinafter mentioned, this Act, Application with the exception of Table A. in the first schedule, shall of Act to Companies apply to Companies formed and registered under the said formed under Joint Stock Companies Acts, or any of them, in the same Joint Stock manner in the case of a limited Company as if such Com Companies pany had been formed and registered under this Act as a Company limited by shares, and in the case of a Company other than a limited Company as if such Company had been formed and registered as an unlimited Company under this Act, with this qualification, that wherever reference is made expressly or impliedly to the date of registration, such date shall be deemed to refer to the date at which such Companies were respectively registered under the said Joint Stock Companies Acts or any of them, and the power of altering regulations by special resolution given by this Act shall, in the case of any Company formed and registered under the said Joint Stock Companies Acts or any of them, extend to altering any provisions contained in the table marked B. annexed to "The Joint Stock Companies Act, 1856," and shall also, in the case of an unlimited Company formed and registered as last aforesaid, extend to altering any regulations relating to the amount of capital or its distribution into shares, notwithstanding such regulations are contained in the memorandum of association.

177. This Act shall apply to Companies regis. Application tered but not formed under the said Joint Stock Com- of Act to Companies panies Acts or any of them in the same manner as it is registered hereinafter declared to apply to Companies registered but under Joint not formed under this Act, with this qualification,

Stock Com

that panies Acts.

wherever reference is made expressly or impliedly to the date of registration, such date shall be deemed to refer to the date at which such Companies were respectively registered under the said Joint Stock Companies Acts or any of them.

The registration of these Companies under the Act of 1862 is not requisite. (The Torbay Bath Company, 32 Bea. 581.)

By section 196 the Act applies to Companies formed before it was passed, and subsequently registered under it, but not under the Joint Stock Companies Acts.

Effect of 196. When a Company is registered under this Act in Registration of this part (7) thereof, all provisions contained under Act. pursuance in any Act of Parliament, deed of settlement, contract of copartnery, cost book regulations, letters patent, or other instrument constituting or regulating the Company, including, in the case of a Company registered as a Company limited by guarantee, the resolution declaring the amount of the guarantee, shall be deemed to be conditions and regulations of the Company, in the same manner and with the same incidents as if they were contained in a registered memorandum of association and articles of association; and all the provisions of this Act shall apply to such Company and the members, contributories, and creditors thereof, in the same manner in all respects as if it had been formed under this Act, subject to the provisions following; (that is to say),

(1). That table A. in the first schedule to this Act shall
not, unless adopted by special resolution, apply to
any Company registered under this Act in pursuance
of this part thereof:

(2). That the provisions of this Act relating to the
numbering of shares shall not apply to any Joint
Stock Company whose shares are not numbered:
(3). That no Company shall have power to alter any pro-
vision contained in any Act of Parliament relating
to the Company :

(4). That no Company shall have power, without the

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