Respecting New Brunswick International Paper Company.

der this section and granting rights or privileges to the holders of such stock, or restricting those ordinarily conferred upon them by law, shall be set out at length on the certificate of such stock, and if not so set out, such rights, privileges and restrictions shall be deemed non-existent.

(3) In case of any such increase of capital stock, the Company shall pay to the Province the additional fee which would be payable upon such an increase by a company incorporated under the New Brunswick Companies Act.

(4) For the purpose of any such consolidation of shares, the Company may purchase fractions of shares and shall sell within two years after the purchase any shares held from such purchases.

18. (1) The Directors may at any time within six months after the enactment of any such by-law make application to the Provincial Secretary-Treasurer for the issue of letters patent or supplementary letters patent to give effect to the same.

(2)

Before such letters patent or supplementary letters patent are issued there shall be established to the satisfaction of the Provincial Secretary-Treasurer, the due enactment of the by-law authorizing such application and for that purpose the Provincial SecretaryTreasurer shall take any requisite evidence in writing by oath or affirmation or by statutory declaration under the Canada Evidence Act and shall keep of record any such evidence so taken.

(3) Upon due enactment of such by-law being so established, the Provincial Secretary-Treasurer may

Respecting New Brunswick International Paper Company.

grant letters patent or supplementary letters patent to give effect to the same and notice thereof shall be forthwith given by the Provincial Secretary-Treasurer in the Royal Gazette. From the date of such letters patent or supplementary letters patent the charter of the Company shall be deemed to have been amended in the manner in such letters patent or supplementary letters patent set forth.

19. Directors of the Company need not be shareholders of the Company.

20. The pledgee of any of the capital stock of the Company may vote upon any such stock which carries a voting right and has been put into the name of the pledgee.

21. No dividend shall be declared which will impair the amount paid in as capital on the outstanding shares of the Company.

22. The New Brunswick Companies Act (6 George V., Chapter 14), as amended, with the exception of Section 87 thereof, shall apply to the Company when not inconsistent with the provisions of this Act; provided, however, that wherever under the New Brunswick Companies Act, and also wherever under any provisions of the Corporations Act (Chapter 84 of the Consolidated Statutes, 1903), the vote or ballot of shareholders or of a stated proportion of the capital stock or of the issued or subscribed capital stock of a company is required for any matter or thing not specifically provided for in this Act, the vote or ballot in the case of the Company shall be by the holders of the issued and outstanding stock of the Company entitled to vote or ballot thereon, or by such stated proportion thereof.

23. If the Company shall manufacture in New Bruns

Respecting New Brunswick International Paper Company.

wick into pulp or paper any wood cut from any lands in the State of Maine, then the Company may from time to time by permission of the Lieutenant-Governor-in-Council for the time therein specified and subject to such conditions as he shall impose, export free from any extra charge, for so doing in an unmanufactured state beyond the limits of Canada an equal quantity of wood suitable for the manufacture of pulp or paper which shall have been cut from crown lands under lease to the Company.

24. The provisions of this Act and all rights hereby conferred shall enure to the benefit of any successors, to or any assignees of, the said company.

25. All Acts and parts of Acts inconsistent with the provisions of this Act, are, to the extent that they are so inconsistent, repealed in their application to the Company.

Be it Enacted by the Lieutenant-Governor and Legislative Assembly as follows:

1. Fraser Companies, Limited, a body corporate under and by virtue of Letters Patent and Supplementary Letters Patent issued under the provisions of the Companies

An Act Relating to Fraser Companies, Limited.

Act, Chapter 79, Revised Statutes of Canada 1906, and amending Acts, having its head office at Plaster Rock in the County of Victoria in the Province of New Brunswick, in addition to any and every power vested in it under and by virtue of said Letters Patent is hereby authorized and empowered:

(a) To acquire by lease, purchase or otherwise and utilize, develop, and operate and dispose of water powers and other powers for the production, transmission and utilization of electric, pneumatic, hydraulic or other power or force and to purchase, acquire and operate and dispose of works for the production, generation, transmission and utilization or sale of electricity, electrical energy or other power and to transmit, store, use or sell in any and all forms electric, pneumatic, hydraulic or other power or force, and also to construct, erect or otherwise acquire and maintain, operate and dispose of any and all systems for the transmission and distribution under and above ground of any and all forms of electric power or energy, and for the utilization thereof.

(b) To enter upon any public road, street or highway and thereon or therein erect, construct, maintain and operate systems for the transmission and distribution of electrical power or energy for the purpposes of the Company or its subsidiary Companies; provided always that before entering upon any public road, street or highway, for any of the said purposes the consent of the Lieutenant-Governor-in-Council shall be first had and obtained; and provided further that if any of the proposed works or any part thereof shall, in the opinion of the Minister of Public Works, be likely to constitute any obstruction to the construction, improvement, maintenance or repair of any public highway or the use there