New South Wales Marine Assurance Company Act 1851 15 Vic (NSW)

New SourH Wass ManineE ASsuRANCE Company.

Preamble.

Company incorpo- rated.

15° VIC. 1851. New South Wales Marine Assurance Company.

ANNO DECIMO QUINTO

VICTORIA REGINA.

An Act to incorporate the New South Wales

Marine Assurance Company. [1st December, 1851. ]

\ \ ;HEREAS a joint stock company called "The New South Wales

Marine Assurance Company" has been lately established at Sydney in the Colony of New South Wales under and subject to the rules regulations and provisions contained in a certain deed of settle- ment bearing date the first day of October in the year of our Lord one thousand cight hundred and fifty-one purporting to be a decd of settlement of the said company And whereas by the said indenture or deed of settlement the several parties thereto have respectively and mutually covenanted and agreed to be and continue (until dissolved under the provisions in that behalf therein contained) a joint stock company or partnership under the name style and firm of "The New South Wales Marine Assurance Company "' for the purpose of effecting marine and other assurances of and upon vessels in harbour and at sea and of and upon the cargoes and property in and on board the same And whereas it was by the said deed of settlement agreed that the capital of the said company for carrying on and conducting the business thereof should consist of one hundred and fifty thousand pounds sterling and be divided into seven thousand five hundred shares of the amount of twenty pounds each but subject to be reduced as thereinafter and hereinafter provided And whereas by the said deed of settlement provision has been made for the due management of the affairs of the said company by certain directors already appointed and by other directors to be from time to time elected and appointed as their successors by the shareholders of the said company And whereas the whole of the capital of one hundred and fifty thousand pounds has been subscribed for and a deposit of ten shillings per share has been paid up And whereas the said company is desirous of being incorpo- rated and it is considered that it will be advantageous not only to the said company but also to the mercantile and shipping interests of New South Wales that it should be incorporated accordingly Be it therc- fore enacted by His Excellency the Governor 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 proprietors 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 regulations and provisions hereinafter contained be one body politic and corporate in name and in deed by the name of "The New South Wales Marine Assurance