Imagens das páginas
PDF
ePub

any year there are not profits available for the payment of the full
Cumulative interest. amount of preferential dividend or interest for that year, then, if it be

so stated in the memorandum of association or in the said by-law, such
deficiency shall be made good out of the profits of the first subsequent
year in which there shall be a surplus after paying the annual dividend
or interest accruing due in respect of such preference stock in such

subsequent year:
To be charge on (a.) Should the surplus in any such subsequent year be insufficient
earnings until inter-
est paid up.

to make good the deficiency or deficiencies of any former year
or years, then such deficiency or deficiencies shall be a first
charge upon the surplus of any subsequent year until such

deficiency or deficiencies shall be fully made good.
Preference stock.

5. In case the memorandum of association authorizes the creation
holders may appoint of preference stock, it may provide that the holders of such preference

stock shall have the right to select a stated proportion of the Board
of Directors, or may give them such other control over the affairs of
the Company as may be considered expedient, and any by-law of a
company originally incorporated without the power of issuing

preference stock may make the same provisions.
By-law creating pref- 6. No such by-law shall have any force or effect whatever until
erence stock to be after it has been unanimously sanctioned by the vote of the share-
unanimously
tioned.

holders present in person or by proxy at a general meeting of the
Company duly called for the consideration of the same, or unanimously

sanctioned in writing by the shareholders of the Company.
Holders of prefer- 7. Holders of preference stock, whether original or created by by-
ence stock to be
shareholders.

law, shall be shareholders within the meaning of this Act, and shall in

all respects possess the rights and be subject to the liabilities of share-
Proviso.

holders within the meaning of this Act: Provided, however, that in
respect of dividends and otherwise they shall, as against the original or
ordinary shareholders, be entitled to the preference given by any by-
law as aforesaid.

sanc-

to

gage land.

Saving rights of cred. 8. Nothing in this Act shall affect or impair the rights of creditors of
itors.

any Company.
Right of any com- 9. Any company heretofore or which may hereafter be incorporated
hold, sell
, or mort: under any public Act for the time being in force in this Province, may

acquire and hold lands in British Columbia by gift, purchase or as
mortgagees, or otherwise, as fully and freely as private individuals,

and may sell, lease, mortgage or otherwise alienate the same.
To be read with 10. This Act shall be read with and form part of the “Companies
“Companies Act,
1890.”

Act, 1890."
Short Title.

11. This Act may be cited as the “Companies Act Amendment Act,
1891."

VICTORIA, B.C. :
Printed by RICHARD WOLFENDEN, Printer to the Queen's Most Excellent Majesty.

[graphic][subsumed][subsumed][subsumed][subsumed]

CHAPTER 4.
An Act to amend the “ Constitution Act.”

[20th April, 1891.] UER MAJESTY, by and with the advice and consent of the LegisII lative Assembly of the Province of British Columbia, enacts as follows:

1. Section 67 of the “ Constitution Act” is hereby amended by Amends sec. 67. substituting the word “six” in place of the word “four” in the third line of the said section.

1

D

2. Schedule “A” of the “Constitution Amendment Act, 1890,” is Amends description

of certain Electoral hereby amended in the sixth and seventh pages of the said Schedule Districts. by striking out the description of the Victoria City Electoral District and the Victoria Electoral District and the Esquimalt Electoral District therein contained, and by substituting for that part of the said Schedule so stricken out, the following :

Victoria City Electoral District. “That tract of land comprised within the Municipal limits of the “Victoria City ElecCity of Victoria, including all that piece or parcel of land described to and defined in the Letters Patent bearing date the ninth day of May, 1873, extending the limits of the Corporation of the City of Victoria, and including all that piece or parcel of land described and defined in the Letters Patent bearing date the eight day of January, A. D. 1891, further extending the limits of the Corporation of the said City of Victoria, shall constitute one Electoral District, to be designated “Victoria Electoral District,” and return four members.

Victoria Electoral District. “Those tracts of land, other than and except Victoria City Electoral “Victoria Electoral District, herein before mentioned, comprised within the Victoria, Lake, Dis North Saanich and South Saanich Districts, as defined on the official maps of those districts, now deposited in the Land Office, Victoria, and

“Esquimalt Elec toral District."

which maps are designated, respectively: Victoria District Official
Map, 1858; “ Lake District,” “North Saanich, 1859 ”; South Saanich
Official Map, 1859 ; excluding all those pieces or parcels of land
described and defined in the respective Letters Patent aforesaid, dated
respectively the ninth day of May, 1873; and the eight day of
January, 1891, shall constitute one Electoral District;ito be designated
“Victoria Electoral District," and return two members.

Esquimalt Electoral District.
“That tract of land comprised within the following boundaries, viz. :-
Commencing at a point on the west shore of Saanich Inlet, being the
south-east corner of Shawnigan District; thence due west along the
southern boundary of Shawnigan District and on a line in continuation
thereof to its intersection with the shore line of the west coast of Van-
couver Island; thence in an easterly direction following the shore line
of the said island to the western boundary of Section 32, Esquimalt
District, which is also the western limit of the Corporation of the City,
of Victoria, as defined by Letters Patent aforesaid dated the eight day:
of January, 1891, including Race Island; thence northerly along the
western limit of the Corporation of the City of Victoria as aforesaid,
to the western boundary of Victoria Electoral District, as herein before
defined; thence following the said western boundary of Victoria
Electoral District to its intersection with Tod Creek; thence along the
shore line of Tod Creek, Finlayson's Arm, and Saanich Inlet, to the
place of commencement, shall constitute one Electoral District, to be
designated Esquimalt Electoral District,” and return two members.”

3. This Act may be cited as the “ Constitution Amendment Act, 1891."

Short title.

VICTORIA, B. C.:
Printed by RICHARD WOLFENDEN, Printer to the Queen's Most Excellent Majesty.

[graphic][subsumed][subsumed][subsumed][ocr errors][subsumed][merged small]

An Act for expediting the decision of Constitutional and other Provincial Questions.

[20th April, 1891.] HF ER MAJESTY, by and with the advice and consent of the Legis

lative Assembly of the Province of British Columbia, enacts as follows: 1. The Lieutenant-Governor in Council may refer to the Supreme Reference to Court

authorized Court of British Columbia, or to a Divisional Court thereof, or to the Full Court, for hearing and consideration, any matter which he thinks fit to refer, and the Court shall thereupon hear and consider the same.

2. The Court is to certify to the Lieutenant-Governor in Council Court to certify its opinion on the question referred, with the reasons therefor, which opinion. are to be given in like manner as in the case of a judgment in an ordinary action; and any Judge who differs from the opinion of the majority may, in like manner, certify his opinion, with his reasons therefor, to the Lieutenant-Governor in Council.

3. In case the matter relates to the constitutional validity of any Notice to Attorney. Act which has heretofore been, or shall hereafter be, passed by the General of Canada. Legislature of this Province, or of some provision in any such Act, the Attorney-General of Canada shall be notified of the hearing, in order to be heard if he sees fit. 4. The Court shall have power to direct that any person interested, Notice to persons

interested. or where there is a class of persons interested, any one or more persons as representatives of such class, shall be notified of the hearing, and such persons shall be entitled to be heard.

5. The opinion of the Court shall be deemed a judgment of the Appeal. Court, and an appeal shall lie therefrom as in the case of a judgment in an action.

zette.

Publication in Ga- 6. The reasons given by the Court, or the members thereof, for any

judgment under this Act shall, as soon as practicable thereafter, be

published in the “ British Columbia Gazette." Short title.

7. This Act may be cited as the “Supreme Court Reference Act, 1891."

VICTORIA, B. C. :
Printed by RICHARD WOLFENDEN, Printer to the Queen's Most Excellent Majesty

« AnteriorContinuar »