Union Bank of Australia Act 1839 3 Vic (NSW)

Unton Bank.

Preamble.

Company to sue ia the name of In- spector or a local Director.

An Act for facilitating Proceedings by and against a certain Banking Company called "The Union Bank of Australia" and for other

purposes therein mentioned. [5th September, 1839. ]

HEREAS a joint stock company was some time since formed

in London under the style or firm of "The Union Bank of Australia" for the purpose of carrying on the business of banking in its various branches in the Australasian Colonies and the said bank is now fully established in the two Colonies of New South Wales and Van Diemen's Land having branch banks in the towns of Sydney Hobart Town Launceston and Melbourne where the said company discounts bills issues notes and transacts all the ordinary operations of that business And whereas the joint stock of the said company is held by proprietors partly residing in Great Britain and partly in the said Colonies of New South Wales and Van Diemen's Land And whereas the said bank as to the said Colonies is under the manage- ment and superintendence of an Inspector appointed by the Directors of the said company in London and of Local Boards of Directors resident respectively at Sydney and Melbourne in the said Colony of New South Wales and at Hobart Town and Launceston in Van Diemen's Land each Board having its Chairman such Directors being severally shareholders in the said company possessing twenty shares or upwards in their own right who conduct and superintend the affairs of the said company in the discounting of bills receiving of deposits issuing notes and otherwise carrying on the said business And whereas for enabling the said company the more readily to enforce payment of moneys that may become due to them from time to time and also to provide an easy remedy against the said company and the several proprictors of shares therein for moneys that may be due to them also for facilitating any prosecution that may hereafter be insti- tuted by the said company it is expedient to simplify all proceedings both at law and in equity by or against the said company by allowing one member thereof to sue and be sued in the place and stead of the whole which cannot be effected without the aid and authority of the Legislature Be it therefore enacted by His Excellency the Governor of New South Wales with the advice of the Legislative Council thereof