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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 Regulations as Dwellings provided by the Company; that is to say,
to Dwellings. (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. 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
scribed 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 Twenty
one Years : (4.) That the Interest of a Lessee is not to be disposed of with
out 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
soon as Half the subscribed 18 & 19 VICT.
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. Rules as to De- X. The following Rules shall be observed with respect to mises by the Demises and Letting made by the Company: 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 Progres
sion, 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 Appartenances; 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 8 & 9 Vict. c.16.
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. Power to Com XI. The Company may purchase the Interest of any registered pany to pur- Lessee, and upon such Purchase being made such Interest shall chase Interests be deemed to be extinguished, and the Company may demise the of Lessees.
Premises so purchased in the same Manner as if no previous
Lease thereof bad ever before been made, Penalty on Mis- XII. If any Funds of the Company are advanced to any Person appropriation
by way of Loan, 'or are with a view of gaining Profit appropriated of Funds.
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. Penalty in case XIII. If any Dwelling belonging to the Company is insuffiDwellings are ciently drained or ventilated, or insufficiently supplied with Water not sufficiently drained, &c.
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
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 incúr å Penalty not Inspector. exceeding Five Pounds.
Miscellaneous. XV. The Provisions of the Lands Clauses Consolidation Act, Provisions of 1845, with reference to the Purchase of Lands by Agreement, 8 & 9 Vict.c. 18. shall be incorporated with this Act, and shall apply to the Pur- incorporated
with this Act. chase of Land by the Company in pursuance of 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
Company. 1. The Name of the Company shall be the
Company. 2. The Capital of the Company shall be
Pounds Sect. 6. divided into Shares of
Pounds each. 3. The First Ordinary Meeting of the Company shall be held Sect. 66.
Days after the Date of the Incorporation of
; but Sect. 82.
and may increase it to any
Dwellings for Labouring Classes. Limited Liability.
Persons ; that is to say,
CA P. CXXXIII.
[14th August 1855.] WHEREAS it is expedient to enable Members of Joint
Stock Companies to limit the Liability for the Debts and Engagements of such Companies to which they are now sub• ject :' Be it therefore enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament
assembled, and by the Authority of the same, as follows : Mode of obtain- I. Any Joint Stock Company to be formed under the Act of ing Limited
the Eighth Year of Her Majesty, Chapter One hundred and ten, Liability by
(other than an Assurance Company,) with a Capital to be divided future Companies under
into Shares of a nominal Value not less than Ten Pounds each, 8 Vict. c. 110. may obtain a Certificate of Complete Registration with Limited
Liability upon complying with the Conditions following, in ad-
for Provisional Registration that such Company is pro
posed to be formed with Limited Liability : (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
ledged in or endorsed on the Deed of Settlement, and the Fact of the same having been bona fide so paid shall
be verified by a Declaration of the Promoters, or any Two of them, made in pursuance of the Act made
in the Sixth Year of the Reign of His late Majesty King 6 W. 4. C. 62.
William the Fourth, Chapter Sixty-two:
Liability to such Company. Mode of obtain II. Any Joint Stock Company, except as aforesaid, now or ing Limited
hereafter completely registered under the said Act of the Eighth Liability by
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,
registered. The Directors of such Company may, with the Consent of at
least Three Fourths in Number and Value of its Share.
holders Directors, and Officers. III. Any Joint Stock Company, except as aforesaid, constituted Mode of obtainunder 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 Comaudited 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