Australasian Steam Navigation Company Act 1851 15 Vic (NSW)

AUSTRALASTAN Steam Navigation Company,

Preamble.

'Company incorporated.

15° VIC. 1851.

Australasian Steam Navigation Company.

An Act to incorporate the Proprietors of a certain Company called "The Australasian Steam Navigation Company" and for other purposes therein mentioned. [10th Decembcr, 1851.]

TEREAS a joint stock company called "The Australasian Steam Navigation Company" has heen lately established at

Sydney in the Colony of New South Wales under and subject to the rules regulations and provisions contained in a certain indenture or deed of scttlement bearing date the first day of July in the year of our Lord one thousand eight hundred and fifty-one purpor ting to bea deed of settlement of the said company And whereas by the said indenture or deed of settlement the several parties thereto have respect- ively and mutually covenanted and agreed to be and continue (until dissolved under the provisions in that behalf contained) a joint stock company or partnership under the name style and title of "The Aus- tralasian Steam Navigation Company "' for the purpose of carrying on the business of trading with steam and other vessels between the ports and places in the Australasian Colonies and also such other Colonies and Countries as may be determined upon at a meeting of proprietors duly convened for that purpose and also of constructing and repairing steam and other vessels machinery and boilers whether the property of the company or not with full power to the directors for the time being of the company to engage hire build or purchase suitable premises and to erect the necessary machinery for the carrying on of all such opera- tions and works and from time to time to hire and employ all necessary workmen servants and apprentices and to become parties to any indenture of apprenticeship with or without a sum of money to be paid by way of premium by or on behalf of any such apprentice and to agree for the instruction of any such apprentice in the several branches of the business trade or handicraft so carried on by the company or any or either of them and to provide proper persons to instruct such apprentice accordingly and to pay such wages and salaries to all such workmen servants and apprentices as shall be thought proper And whereas it was by the said indenture or deed of settlement further agreed that the capital of the company shall consist of eighty thousand pounds to be contributed in four thousand shares of twenty pounds each and of such further sum or sums not exceeding the sum of four hundred and twenty thousand pounds as may hereafter be raised by the creation allotment and sale of new shares of the like amount as therein provided And whereas by the said indenture or deed of settlement provision has been made for the payment of dividends and honuses and for the disposal and application of the profits and also for the due management of the affairs of the said company And whereas the said company is desirous of being incorporated and it is expedient that it should be incorporated accordingly but subject to the provisions hereinafter contained Be it therefore enacted by His Excellency the Governor-in-Chief of New South Wales with the advice and consent of the Legislative Council thereof That such and so many persons as have already become or at any time or times hereafter shall or may in the manner provided by and subject to the rules regulations and provisions contained in the said indenture or deed of settlement become proprictors of shares of or in the capital for the time being of the said company shall for the purposes aforesaid but subject nevertheless to the conditions restrictions