Bank of Australia Act 1833 4 Wm IV (NSW)

1833. 4° GUL. IV. 9

Bank of. Austr alia.

ANNO QUARTO

GULIELMI IV. REGIS.

An Act to enable the Proprietors of a Certain Bess or Acs. Banking Establishment or Company carried on in the Town of Sydney in the Colony of New South Wales under the name style and firm of ''The Bank of Australia" to sue and be sued in the name of the Chairman of the said Bank or Company for the time being and

for other purposes therein mentioned. [28th August, 1833. ]

\ ITEREAS several persons have formed themselves into a com- Preamble. pany or socicty established at Sydney under the name style or firm of "The Bank of Australia" as well for the purposes of discount and issuing of notes and bills and lending moneys on securities and cash accounts for the receiving moneys on deposit accounts for the safe custody of moneys and securities for moneys for the general public accommodation and benefit as also for transacting and negotiating all such other matters and things as are usually done and performed relating to or connected with the ordinary business of banking And whereas the said bank is now being carried on in Sydney and is under the care management and superintendence of eleven Directors one of whom is Chairman of the said bank And whereas difficulties may arise in recovering debts duc to the said bank or com- pany and in maintaining actions or procecdings for damages done to their property and also. in prosecuting persons who may steal or embezzle the bills notes bonds mortgages moneys goods chattels or effects of the said bank And whereas it would be convenient and just that persons having demands against the said bank should be entitled to sue some member thereof in place and stead of the whole but as these purposes cannot be effected without the aid and authority of the Legislature Be it therefore enacted by His Excellency the Actions at law &e. Governor of New South Wales with the advice of the Legislative poo ee Council That from and after the passing of this Act all actions and suits and all proceedings at: law or in equity to he commenced insti- tuted and prosecuted or carried on by or on behalf of the said bank or wherein the said bank is or shall 'be in any way concerned against any person or persons body or bodies politic or corporate or whether a member or members of the said bank or otherwise shall and may be lawfully commenced instituted and prosecuted or carried on in. the name of the person who shall be Chairman of the said bank at the time any such action suit or proceeding shall be commenced or insti- tuted as the nominal plaintiff complainant or petitioner for and on behalf of the said bank and that all actions suits or proceedings afore- said to he commenced instituted or prosecuted against the said bank B shall