Sydney Marine Assurance Company’s Incorporation Act 1866 29 Vic (NSW)

1866. 29° VIC. 3

Sydney Marine Assurance Company's Incorporation.

An Act to incorporate the Sydney Marine — sxe Mane

ASSURANCE

Assurance Company. [Vth April, 1866.] Conraxy's Ixcon-

UEREAS a Joint Stock Company called the "Sydney Marine Preamble. Assurance Company "' has been lately established at Sydney in the Colony of New South Walcs under and subject to the rules regulations and provisions contained in a certain deed of settlement ' bearing date the second day of October one thousand cight hundred and sixty-five purporting to be the deed of settlement of the said Company And whereas by the said deed of settlement the several parties thereto (other than the nominal covenantce thercin named) have respectively and mutually covenanted and agreed that they whilst holding shares in the capital of the said Company would remain and continue until such Company should be dissolved under the provisions in that behalf therein contained a Joint Stock Company under the name style and title of the "Sydney Marine Assurance Company" for the purpose of effecting and carrying out the objects or business therein particularized being such and the same as are enumerated in scction five of this Act And whereas it was by the said deed of settlement agreed that the capital of the said Company should consist of one hundred thousand pounds sterling to be divided into twenty thousand shares of the amount of five pounds cach and of such further sum or sums as might thereafter be raised by the creation allotment and sale of new shares as therein provided And whercas by the said deed of settlement provision has been made for the due management of the affairs of the said Company by certain Directors and Auditors already appointed and by other Directors and Auditors to be from time to time ected and appointed as their successors by the shareholders of the aid Company And whereas seventeen thousand of the said shares ave been duly allotted and taken up and a deposit of ten shillings er share has been paid up thereon and the remaining three thousand hares have been reserved for future allotment as in the said deed of settlement provided And whereas the said Company is desirous of being incorporated and it is considered that it will be advantagcous not only to the said Company but also to the mercantile shipping and other interests of New South Wales that it should be incorporated accordingly Be it therefore enacted by the Qucen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled and by the authority of the same as follows :— 1. The following words and expressions in the Act shall have Interpretation the several meanings hereby assigned to them unless there be some- "4% thing in the subject or the context repugnant to such construction that is to say— The expression "the Company" shall mean the Company The Company. incorporated by this Act The expression "the Directors"' shall mean the Board of Directors The Directors. of the Company duly appointed under the provisions of the said deed of settlement The word "shareholder"? shall mean sharcholdcr proprictor or Shareholder. member of the Company The expression "decd of settlement" shall mean and include Deed of settlement. the said recited deed and any alterations additions and amendments that may from time to time be made in or to the same in pursuance of the provisions in that behalf therein contained. 2.