beneficially shall be described in such or the like manner as is hereinbefore required in the enrolment, otherwise every such deed, instrument, or other assurance shall be null and void. V. And be it further enacted, that in case any person or persons by whom any annuity or rent-charge, of which such particulars as aforesaid are hereby required to be enrolled, shall for the time being be payable, shall be desirous of obtaining a copy of every or any deed, bond, instrument, or other assurance, whereby such annuity or rentcharge was granted, and of such his, her, or their desire shall give twenty-one days notice in writing to the person or persons for the time being entitled to such annuity or rent-charge, such person or persons shall, on or before the expiration of such twenty-one days, unless prevented by fire or other inevitable accident, and in that case if the assurances shall not be destroyed by such accident, then as soon after as such impediment shall be removed, send or deliver to the person or persons requiring the same a copy of every deed, bond, instrument, or other assurance, whereby such annuity or rent-charge was granted, or of such of the assurances as in such notice shall be required; and such last-mentioned person or persons shall, at the time of receiving the same, pay to the person or persons furnishing the same a sum after the rate of sixpence for every one hundred words contained in every such copy, and also the reasonable costs of sending or delivering the same; and the person or persons holding he original instruments by which such annuity or rent-charge shall be secured shall suffer the person or persons to whom such copies shall be delivered or sent to examine the same with the originals; and in case such copies shall not be sent or delivered, or the person or persons holding the original instruments shall refuse to suffer such copies to be examined therewith according to the direction in this Act, it shall be lawful for the person or persons by whom the annuity or rent-charge is payable to take out a summons from any of his Majesty's justices of his courts of King's Bench and Common Pleas, requiring the person or persons neglecting to send or deliver such copies, or refusing to suffer the same to be examined with the original instrument as aforesaid, to appear before such judge, and show cause in the premises; and it shall and may be lawful for the judge before whom such person or persons shall be summoned to make such order for the production of the instruments by which such annuity or rentcharge shall be secured, and for suffering the complainant to take copies thereof, and examine the same, or the copies delivered with the original instruments, and otherwise in the premises, as to such judge shall seem meet. VI. And be it further enacted, that if any part of the consideration for the purchase of any such annuity or rent-charge shall be returned to the person advancing the same, or in case such consideration or any part of it shall be paid in notes, if any of the notes, with the privity and consent of the person advancing the same, shall not be paid when due, or shall be cancelled or destroyed without being first paid; or if such consideration is expressed to be paid in money, but the same or any part of it shall be paid in goods; or if the consideration or any part of it shall be retained on pretence of answering the future payments of the annuity or rent-charge, or any other pretence; in all and every the aforesaid cases it shall be lawful for the person by Copies of the deeds or instruments securing such annuities may be ob tained. In what cases proceedings against the grantor of an annuity may be stayed. A book shall be kept by the clerks of enrol ment in Chancery. Contracts for annuities, by persons under age, to be void. For punishing persons endeavouring to induce infants ties. any whom the annuity or rent-charge is made payable, or whose property is liable to be charged or affected thereby, to apply to the court in which action shall be brought for payment of the annuity or rentcharge, or judgment entered, by motion, to stay proceedings on the action or judgment; and if it shall appear to the court that such practices as aforesaid, or any of them, have been used, it shall and may be lawful for the court to order every deed, bond, instrument, or other assurance, whereby the annuity or rent-charge is secured, to be cancelled, and the judgment, if any has been entered, to be vacated. VII. And be it further enacted, that a particular book shall be provided and kept by the clerks of the enrolments in chancery, or their deputy, in which such particulars as herein-before are mentioned shall be entered alphabetically, by the names of the grantors, in order of time as the same shall be brought to the office; and the said clerks of the enrolments, or their deputy, shall specify in the book the certain day, hour, and time on which such particulars are brought to the office, and shall grant a certificate of the entry thereof, when required; and that there shall be paid for every such entry twenty shillings only, and the fee of one shilling for every certificate and copy given, and the fee of one shilling for every search in the office, and no more. VIII. And be it further enacted, that all contracts for the purchase the purchase of of any annuity or rent-charge with any person being under the age of twenty-one years, shall be and remain utterly void, any attempt to confirm the same after such person shall have attained the age of twenty-one years notwithstanding; and that if any person shall, either in person, by letter, agent, or otherwise howsoever, procure, engage, solicit, or ask any person, being under the age of twenty-one years, to grant or attempt to grant any annuity or rent-charge, or to execute to grant annui- any bond, deed, or other instrument for securing the same, or shall advance or procure or treat for any money to be advanced to any person under the age of twenty-one years upon consideration of any annuity or rent-charge to be secured or granted by such infant after he or she shall have attained his or her age of twenty-one years, or shall induce, solicit, or procure any infant, upon any treaty or transaction for money advanced or to be advanced, to make oath or te give his or her word of honour or solemn promise that he or she will not plead infancy, or make any other defence against the demand of any such annuity or rent-charge, or the repayment of the money advanced to him or her when under age, or that when he or she comes of age, he or she will confirm or ratify or in any way substantiate such annuity or rent-charge, every such person shall be guilty of a mis demeanor, and being thereof lawfully convicted in any court of assize, oyer and terminer, or general gaol delivery, shall and may be punished for the said offence by fine, imprisonment, or other corporal punishment, as the court shall think fit to award. For punishing persons acting as brokers in such cases. IX. And be it further enacted, that all and every solicitors and solicitor, scriveners and scrivener, brokers and broker, and other persons or person, who, from and after the passing of this Act, shall ask, demand, accept, or receive, directly or indirectly, any sum or sums of money, or any other kind of gratuity or reward, for the soliciting or procuring the loan, and for the brokerage of any money that shall be actually and bonâ fide advanced and paid as and for the price or consideration of any such annuity or rent-charge, over and above the sum of ten shillings for every one hundred pounds so actually and bonâ fide advanced and paid, shall be deemed and adjudged guilty of a misdemeanor, and being lawfully convicted of such offence in any court of assize, oyer and terminer, or general gaol delivery, shall and may for every such offence be punished by fine and imprisonment, or one of them, at the discretion of the Court; and that the person or persons who shall have paid or given any sum or sums of money, gratuity, or reward, shall be deemed a competent witness or witnesses to prove the same. X. And be it further enacted, that this Act shall not extend to Scotland or Ireland, nor to any annuity or rent-charge given by will or by marriage settlement, or for the advancement of a child, nor to any annuity or rent-charge secured upon freehold or copyhold or customary lands, in Great Britain or Ireland, or in any of his Majesty's possessions beyond the seas, of equal or greater annual value than the said annuity, over and above any other annuity, and the interest of any principal sum charged or secured thereon, of which the grantee had notice at the time of the grant, whereof the grantor is seised in fee simple or fee tail in possession, or the fee simple whereof in possession the grantor is enabled to charge at the time of the grant, or secured by the actual transfer of stock in any of the public funds, the dividends whereof are of equal or greater annual value than the said annuity, nor to any voluntary annuity or rent-charge granted without regard to pecuniary consideration or money's worth, nor to any annuity or rent-charge granted by any body corporate, or under any authority or trust created by Act of Parliament. 7 & 8 VICT. c. 110. An Act for the Registration, Incorporation, and Regulation of Joint Stock Companies. [5th September, 1844.] WHEREAS it is expedient to make provision for the due registration of joint stock companies during the formation and subsistence thereof, and also, after such complete registration as is hereinafter mentioned, to invest such companies with the qualities and incidents of corporations, with some modifications, and subject to certain_conditions and regulations, and also to prevent the establishment of any companies which shall not be duly constituted and regulated according to the provisions of this Act. Now be it enacted by the Queen's most excellent Majesty, by and with the advice and consent of the lords spiritual and temporal, and commons, in this present Parliament assembled, and by the authority of the same, that this Act shall come into operation at the following times; that is to say, as to the officers to be appointed in pursuance hereof for the registration of companies, and the regulation of the office hereby provided for that purpose, immediately on the passing hereof; and as to all companies to which this Act is to apply, and all other the provisions hereinafter contained, except such as relate to such officers and office as afore General Provi- said, on the first day of November in the year one thousand eight hundred and forty-four. sions. Operation of Act as to companies. Application of term "Joint Stock Com pany." Future companies. Companies for executing parliamentary works. Incorporated companies. Construction of words. II. And be it enacted, that this Act shall apply to every joint stock company, as hereinafter defined, established in any part of the United Kingdom of Great Britain and Ireland except Scotland, or established in Scotland and having an office or place of business in any other part of the United Kingdom, for any commercial purpose, or for any purpose of profit, or for the purpose of assurance or insurance (except banking companies, schools, and scientific and literary institutions, and also friendly societies, loan societies, and benefit building societies, respectively duly certified and enrolled under the statutes in force respecting such societies, other than such friendly societies as grant assurances on lives to the extent hereinafter specified); and that the term "Joint Stock Company" shall comprehend,— Every partnership whereof the capital is divided or agreed to be divided into shares, and so as to be transferable without the express consent of all the copartners; and also, Every Assurance company or association for the purpose of assurance or insurance on lives, or against any contingency involving the duration of human life, or against the risk of loss or damage by fire, or by storm or other casualty, or against the risk of loss or damage to ships at sea or on voyage, or to their cargoes, or for granting or purchasing annuities on lives; and also every institution enrolled under any of the Acts of Parliament relating to friendly societies, which institution shall make assurances on lives, or against any contingency involving the duration of human life to an extent upon one life or for any one person to an amount exceeding two hundred pounds, whether such companies, societies, or institutions, shall be joint stock companies or mutual assurance societies, or both; and also, Every partnership which at its formation, or by subsequent admission (except any admission subsequent on devolution or other Act in law), shall consist of more than twenty-five members. And that, except where the provisions of this Act are expressly applied to partnerships existing before the said first day of November, it shall be held to apply only to partnerships the formation of which shall be commenced after that date: provided nevertheless, that, except as hereinafter specially provided, this Act shall not extend to any company for executing any bridge, road, cut, canal, reservoir, aqueduct, waterwork, navigation, tunnel, archway, railway, pier, port, harbour, ferry, or dock which cannot be carried into execution without obtaining the authority of Parliament: provided also, that, except as hereinafter is specially provided, this Act shall not extend to any company incorporated or which may be hereafter incorporated by statute or charter, nor to any company authorised or which may be hereafter authorised by statute or letters patent, to sue and be sued in the name of some officer or person. III. And be it declared, that the following words and expressions are intended to have the meanings hereby assigned to them respectively, so far as such meanings are not excluded by the context or by the nature of the subject matter; that is to say, The word "6 company to mean any joint stock company or other institution, as before defined: The expression "assurance company" to mean any assurance com- General Provipany, association, or institution, as before defined: The word "directors" to mean the persons having the direction, conduct, management, or superintendence of the affairs of a company: The expression "promoter," or "promoter of a company," to apply The word "subscriber" to mean any person who shall have agreed The word "person" to apply to bodies politic or corporate, whether The expression "commissioners of the treasury" to apply to the lord high treasurer for the time being, or the commissioners of her Majesty's treasury for the time being, or any three or more of them: The expression" committee of privy council for trade" to mean the lords of the committee of her Majesty's privy council for the consideration of all matters of trade and plantations: The expression "secretary of the committee" to mean one of the The word "justice" to mean a justice of the peace for the county, The word "prescribed" to mean provided for by special authority: The expression "superior courts" to mean her Majesty's superior The word "occupation," when applied to any person, to mean his The expression "place of residence" to include the street, square, And generally, whensoever, with regard to any matter, or to any sions. |