Australasian Sugar Company Act 1842 6 Vic (NSW)

114 6 VIC. 1842.

Australasian Sugar Company.

ANNO SEXTO

VICTORIA REGINA.

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gfvmasax An Act for facilitating Proceedings by and against a certain Joint Stock Company called "The Australasian Sugar Company" and for other purposes therein mentioned. — [Tth September, 1842.]

Preamble. W oem acertain joint stock company was some time since formed in the Colony of New South Wales under the style or firm of "The Australasian Sugar Company" for the purpose of carrying on the trade or business of purchasing and refining raw sugar the sale of sugar whether raw or refined by the company the sale of molasses the manufacture of animal charcoal ivory black soda sal ammonia blacking and such other business connected with the gencral objects of the company as the directors shall think fit and whereas the joint stock of the said company is held by proprictors partly residing in the said Colony of New South Wales and partly elsewhere and whereas the said joint stock company is under the management and superin- tendence of a Manager appointed by the directors of the said company and of a Board of Directors in or near Sydney in the said Colony of New South Wales the said hoard having its Chairman such directors heing severally sharcholders in the said company possessing ten shares or upwards in their own right who conduct and superintend the affairs of the said company in the carrying on the said business and whereas for enabling the said company the more readily to enforee 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 proprietors of shares thercin for moneys that may be due to them also for facilitating any prosecution that may hereafter be instituted 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 Company to sue in Be it therefore enacted by iis Excellency the Governor of New South Menawee ofthe | Wales with the advice of the Legislative Council thereof That all actions tho directors. or suits against any person or persons indebted to the said joint stock company "whether a member thereof or otherwise and all other pro- ceedings at law or in equity to be instituted or prosecuted by or on behalf of the said joint stock company or wherein the said company is or shall be in any way coneerned against any person or persons body or bodies politic or corporate shall and may be lawfully instituted and prosecuted in the name of the Manager for the time being of the said company and in the event of his death or absence from the said Colony in the name or names of any one of the board of directors in Sydney at the time any such action suit or other proceeding shall be instituted as the nominal plaintiff complainant or petitioner for and on behalf of