Dwellings for Labouring Classes. this or in the said incorporated Act, it shall mean "prescribed by the Articles of Association." Rights and Obligations of Company. VI. Every Company incorporated under this Act, and herein- Purpose of after referred to as "the Company," shall be established for the Company. Purpose of providing Dwellings for the Labouring Classes, with or without private Gardens, or with or without common Gardens or Places of common Recreation for the Use of the Inmates of such Dwellings, and for no other Purpose whatever; and for the above Purpose the Company shall have Power to accept Grants and Leases of and to purchase and hold Land, to erect thereon Dwellings for the Labouring Classes, and to let such Dwellings to Lodgers by the Week or Month, or to demise the same to Lessees for any Estate or Interest not greater than a Term of Twenty-one Years, upon such Terms of Remuneration as they think fit; subject to this Proviso, that the Company shall not be entitled to hold at any One Time more than Ten Acres of Land, except with the Licence of the Committee of Privy Council for Trade. VII. The following Regulations shall be made respecting any Dwellings provided by the Company; that is to say, (1.) All such Dwellings shall, as respects Drainage, Ventilation, Supply of Water, and necessary Conveniences, be constructed and provided in such Manner as may be approved by the General Board of Health, and shall be maintained by the Company in good and sufficient Repair: (2.) Any Person appointed by the General Board of Health may at all reasonable Times inspect any such Dwellings as aforesaid. Regulations as to Dwellings. VIII. The following Matters and Things may be prescribed by Permissive the Articles of Association, and if so prescribed, but not other- Rights of the wise, shall be binding; that is to say, Company. (1.) That the Capital of the Company may, with the Approval of the Board of Trade, and subject to such Condition as they may impose, be incrcased by the Issue of a prescribed Number of Shares, and of a prescribed Amount: (2.) That no Premium is to be taken in respect of any Lease granted by the Company: (3.) That the Interest granted to any Lessee is not to exceed the prescribed Term, such Term being less than Twentyone Years: (4.) That the Interest of a Lessee is not to be disposed of without the Consent of the Directors: But no Power hereby given shall be exercised in such Manner as to prejudice any Right under any subsisting Lease or Contract for a Lease. IX. In Cases where it is prescribed by the Articles of Asso- Power to mortciation that the Dwellings belonging to the Company are to be let gage given in only to Lodgers by the Week or Month and not for any greater certain Cases. Interval, the Company may, as soon as Half the subscribed 18 & 19 VICT. 3 G Capital Rules as to Demises by the Company. 8 & 9 Vict. c. 16. Power to Com. pany to pur Dwellings for Labouring Classes. Capital is paid up, borrow on the Security of their Property to the prescribed Amount, such Amount not to exceed One Third of such subscribed Capital; but no Mortgagee shall have Power to eject any Tenant before the Expiration of his Tenancy; and in no other Case shall the Company have Power to borrow Money. X. The following Rules shall be observed with respect to Demises and Letting made by the Company : (1.) The Dwellings provided by the Company, with the private Gardens (if any) appurtenant thereto, shall be divided into such Parcels as may be conveniently held in distinct Occupations : (2.) The Parcels shall be numbered in Arithmetical Progression, beginning with the Figure One, each Parcel being distinguished by a separate Number: (3.) The Interests of the Lessees, other than monthly or weekly Tenants, in the Property of the Company, shall be deemed to be Shares in a Capital consisting of the Dwelling Houses of the Company, with their Appurtenances; and in all Cases where such Interests are not restricted to the original Lessee, the Transfer or Transmission of such Interests shall take place in manner in which the Transfer or Transmission of Shares takes place in pursuance of the said Companies Clauses Consolidation Act, 1845, or as near thereto as Circumstances admit; and the Clauses of such last-mentioned Act with respect to the Transfer or Transmission of Shares shall, with the necessary Alterations, be held to apply to the Transfer or Transmission of the Interests of any such Lessees as aforesaid. XI. The Company may purchase the Interest of any registered Lessee, and upon such Purchase being made such Interest shall chase Interests be deemed to be extinguished, and the Company may demise the Premises so purchased in the same Manner as if no previous Lease thereof had ever before been made. of Lessees. Penalty on Misappropriation of Funds. Penalty in case Dwellings are not sufficiently drained, &c. XII. If any Funds of the Company are advanced to any Person by way of Loan, or are with a view of gaining Profit appropriated to any Purpose other than the Purpose for which the Company is hereby declared to be established, every Director of the Company shall, in addition to any other Liabilities he may be under to replace such Funds, be liable, at the Suit of any Shareholder or other Person, whether implicated or not in such Loan or Misappropriation, to pay to such Shareholder or other Person, to be applied by him to his own Use, in respect of each such Advance or Misappropriation, a Sum by way of Penalty not greater in Amount than the Sum so advanced or misappropriated, and not less than Half such Sum. XIII. If any Dwelling belonging to the Company is insufficiently drained or ventilated, or insufficiently supplied with Water or necessary Conveniences, or is in a bad State of Repair, the General Board of Health may, by Order left at any Office of the Company, or served on any Director of the Company, require the Company, within a reasonable Time, to be specified in such Order, Dwellings for Labouring Classes. Order, sufficiently to drain, ventilate, and supply with Water and necessary Conveniences, or put in a good State of Repair, such Dwelling; and if default is made in compliance with the Requisitions of such Notice, the Company shall incur a Penalty not exceeding Five Pounds for every Day during which such De-fault continues; and it shall be lawful for any Justices by whom such Penalty is imposed, if they think fit, to order the whole or any Part thereof to be laid out in executing the Works in respect of which the Penalty is incurred; and in addition to the above Remedy the said General Board may themselves do the Works required by such Notice, and recover from the Company in a summary Manner the Expenses of so doing the same; but any Order made by the General Board in pursuance of this Section may be appealed against, and, on Application by Motion, be set aside or otherwise modified by any of Her Majesty's Superior Courts of Law at Westminster. XIV. If any Person obstructs any Inspector of the General Penalty on Board of Health in the Inspection of any Dwelling belonging to obstructing the Company, he shall for each Offence incur a Penalty not Inspector. exceeding Five Pounds. Miscellaneous. XV. The Provisions of the Lands Clauses Consolidation Act, 1845, with reference to the Purchase of Lands by Agreement, shall be incorporated with this Act, and shall apply to the Purchase of Land by the Company in pursuance of this Act. Provisions of 8 & 9 Vict. c. 18. incorporated with this Act. XVI. All Penalties imposed by this Act, or by any Byelaws Recovery of made in pursuance of this Act or of any Act incorporated here- Penalties. with, and all Sums of Money hereby directed to be recovered in a summary Manner, may be recovered in a summary Manner before Two Justices, as directed by an Act passed in the Eleventh and Twelfth Years of the Reign of Her present Majesty Queen Victoria, Chapter Forty three, intituled An Act to facilitate the 11 & 12 Vict. Performance of the Duties of Justices of the Peace out of Sessions c. 43. within England and Wales with respect to summary Convictions and Orders. XVII. This Act shall not extend to Scotland. Extent of Act. SCHEDULE. Articles of Association of the 1. The Name of the Company shall be the Company. 2. The Capital of the Company shall be divided into Shares of Company. Pounds Sect. 6. Pounds each. 3. The First Ordinary Meeting of the Company shall be held Sect. 66. Days after the Date of the Incorporation of the Company. 4. The Number of Directors shall be ; but Sect. 82. Number not exceeding 3 G 2 Limited Liability. Sect. 83. *Insert Names of Directors. Mode of obtaining Limited Liability by future Companies under 8 Vict. c. 110. 6 W. 4. c. 62. Mode of obtain. ing Limited Liability by Dwellings for Labouring Classes. 5. The First Directors of the Company shall be the following Persons; that is to say,* N.B.-The References in the Margin refer to the Sections of the Companies Clauses Consolidation Act, 1845. CA P. CXXXIII. An Act for limiting the Liability of Members of certain I. Any Joint Stock Company to be formed under the Act of (2.) The Word "Limited" shall be the last Word of the Name of the Company: (3.) The Deed of Settlement shall contain a Statement to the Effect that the Company is formed with Limited Liability: (4.) The Deed of Settlement shall be executed by Shareholders, not less than Twenty-five in Number, holding Shares to the Amount in the aggregate of at least Three Fourths of the nominal Capital of the Company, and there shall have been paid up by each of such Shareholders on account of his Shares not less than Twenty Pounds per Centum: (5.) The Payment of the above Per-centage shall be acknow And upon such Conditions being complied with, and such other II. Any Joint Stock Company, except as aforesaid, now or hereafter completely registered under the said Act of the Eighth Year Limited Liability. Year of Her Majesty, may obtain a Certificate of Complete Regis- Companies now tration with Limited Liability, in manner and subject to the Con- or hereafter dition following; that is to say, The Directors of such Company may, with the Consent of at least Three Fourths in Number and Value of its Shareholders who may be present, personally or by Proxy, at any General Meeting summoned for that Purpose, make such Alteration in the Name, nominal Value of Shares, and Deed of Settlement of the Company as may be necessary for enabling it to comply with the Conditions herein-before mentioned with respect to Joint Stock Companies seeking to obtain Certificates of Complete Registration with Limited Liability; and upon Compliance with such Conditions, the Registrar, after the Affairs of the Company shall at the Expense of the Company have been audited by some Person appointed by the Board of Trade, and on Certificate from the said Board that the complete Solvency thereof has been established on such Audit to its Satisfaction, shall grant to such Company, by its new Name, a Certificate of Complete Registration with Limited Liability, and thereupon all Privileges and Obligations hereby attached to Companies with Limited Liability, their Shareholders, Directors, and Officers, shall attach to the Company named in such Certificate, its Shareholders Directors, and Officers. registered. III. Any Joint Stock Company, except as aforesaid, constituted Mode of obtain under any Private Act of Parliament, whereof it shall be proved ing Limited to the Satisfaction of the Board of Trade, after the Affairs of the Liability by Company shall, at the Expense of the Company, have been existing Companies constiaudited by some Person appointed by the Board of Trade, that the tuted under Prisaid Company is perfectly solvent, and that not less than Twenty vate Acts of per Centum of Three Fourths of the nominal Capital of such Com- Parliament. pany has been paid up, may obtain a Certificate of Complete Registration with Limited Liability, in manner and subject to the Condition following; that is to say, The Directors of such Company may, with the Consent of at least Three Fourths in Number and Value of its Shareholders who may be present, personally or by Proxy, at any General Meeting summoned for that Purpose, make such Alteration in the Name and nominal Value of Shares as may be necessary for enabling it to comply with the Condition in that Behalf herein-before mentioned with respect to Joint Stock Companies seeking to obtain Certificates of Complete Registration with Limited Liability; and upon Compliance with such Condition the Registrar, on Receipt of a Certificate of the Solvency of the Company, and of the Payment of Capital as before mentioned, shall grant to such Company, by its new Name, a Certificate of Complete Registration with Limited Liability; and thereupon all Privileges and Obligations hereby attached to Companies with Limited Liability, their Shareholders, Directors, and Officers, shall attach to the Company named in such Certificate, its Shareholders, Directors, and Officers. |