Australian Marine Assurance Company Act 1832 3 Wm IV (NSW)

1832. 3° GUL. IV.

Australian Marine Assurance Compan yf.

An Act to enable the Proprietors of a certain Joint Stock Company carried on in the Town of Sydney in the Colony of New South Wales under the name style or firm of " The Australian Marine Assurance Company" to sue and be sued in the name of the Chairman of the said Company for the time being and for other purposes therein mentioned. [27th September, 1832. |

IWEREAS some short time since a certain joint stock company under the name style or firm of "The Australian Marine Assurance Company" for the purpose of effecting marine insurances of discounting promissory notes or bills and of lending moneys ou other sccuritics was established in Sydney in the Colony of New South Wales -And whereas the said company consists of about seventy different propricters or shareholders some of whom reside within the said Colony of New South Wales and others of whom are absent in parts beyond the seas And whereas the said company is under the management and control of eleven Directors onc of whom is the Chairman of the said Directors And whereas difficultics may arise in recovering debts due to the said company and in maintaining actions or 'proceedings for damages done to their pro- perty and it would also be convenient and just that persons having demands against the said company should be entitled to sue some member thereof in the place and stead of the whole And whereas these purposes cannot be cifected without the aid and authority of the Legislature Be it thevefore enacted by Lis Excellency the Governor of New South Wales with the advice of the Legis Jative Council thereof That ail actions and suits against any person or persons indebted to the said eonipany whether a member or members thereof or otherwise and all other proceedings at law or in equity to be instituted and prosceuted by or on behalf of the said company or wherein the said company is or shall be in any way concerned against any person or persons body or bodies politic ov corporate shall and ms ry be lawfully instituted and prosecuted in the name of the person who shall be the Chairman of the said company at the time any such action suit or other proceeding shall be insti- tuted as the nominal plaintiff complainant or petitioner for and on behalf of the said company and that all actions suits and other proceedings at law or in equity to be commenced instituted and prosecuted or carried on against the said company shall be instituted and prosceuted against the Chairman for the time being of the said company as the nominal defendant for and on behalf' of the said company and the death removal resignation or other act of such Chairman whose name shall be so made use of in any such action suit or other proceeding shall not abate any such action suit or other proceeding but the same may be continued prosecuted and carried on in the name of any person who may be or become the Chairman of the said company for the time being.