Clarence and New England Steam Navigation Company’s Act 1866 29 Vic (NSW)

CLARENCE AND New Enauann Stream Navigation Company.

Preamble.

Company incor- porated.

29° VIC. 1866. Clarence and New England Steam Navigation Company.

An Act to incorporate the proprietors of a certain Company called "The Clarence and New England Steam Navigation Company" and for other purposes therein mentioned. [7th

April, 1866. ]

HEREAS a Joint Stock Company called "The Clarence and New England Steam Navigation Company" has been lately established

at Grafton Clarence River in the Colony of New South Wales under and subject to the rules regulations and provisions contained in a certain indenture or deed of settlement bearing date the eighteenth day of April one thousand eight hundred and sixty -tive purporting to be a deed 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 Com- pany or partnership under the name style and title of 'The Clarence and New England Steam Navigation Company" for the purpose of carrying on the business of trading with steam and other vessels to and from the Clarence River and Sydney in the said Colony and to and from other ports and places with full power to the Directors for the time being of the said Company to engage hire build or purchase suitable premises for the carrying on of all such operations and works and from time to

time to hire and employ all necessary agents clerks officers apprentices

and servants And whereas it was by the said indenture or deed of settle- ment further agreed that the capital of the said Company should consist of thirty thousand pounds to be contributed in six thousand shares of five pounds each and of such further sum not exceeding the sum of seventy- five thousand pounds as a majority in number and value of the share- holders for the time being might determine to be raised by the creation and allotment or 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 for the disposal and appli- cation 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 accordingly but subject to the provisions hereinafter con- tained Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legis- lative Assembly of New South Wales in Parliament assembled and "by the authority of the same as follows :-—