No. CCCCVII.

A Bill for the formation of a Joint-Stock Company (1).

PARLIAMENTA

RY FORMS.

Private Act Company (establishing).

1. Petition to Parliament.

To, &c. (2)

The humble Petition of the several persons whose names
are hereunto subscribed,

SHEWETH,

That it would be very advantageous to the public at large, and in
particular to all persons resident within, &c. or employed in the ma-
nufactory of, &c. [stating the beneficial objects to be attained by the
establishment of the company] but which will require a very large
sum of money by way of capital, not in the command of any one
or few persons desirous of accomplishing the same. That for the
beneficial ends aforesaid, and for the purpose of carrying them
into effect, your petitioners and others have entered into a subscrip-
tion to raise, and have actually raised and agreed to pay the sum of
as a joint-stock or fund for the said purposes.
That the sum of £
parts of the said
sum, has been already paid down, and is now in the hands of Messrs.
bankers. That it will be necessary for effecting some of
the aforesaid purposes that lands should be purchased and machinery
erected at, &c. and other powers be given to the said company [and
that the said company should, &c. as the case may require], but
which cannot be effected without the aid of Parliament.

being full

Your Petitioners, therefore, &c. (3)

(1) Of joint-stock companies, see observations, post. "PARTNERSHIP COMPANIES" formed without the authority of Parliament. See ante, PRACTICAL DIRECTIONS, chap. II. sec. ii. pl. 2.

(2) See ante, p. 46.

(3) See ante, p. 46.

PARLIAMENTA

RY FORMS.

Private Act Company (establishing).

2. THE BILL.

An Act for establishing a Joint-Stock Company (1) for the purpose of, &c. [state shortly the object of the company].

WHEREAS, &c. [recite the object of the company.] And whereas
the several persons hereinafter named have entered into a subscrip-
tion to raise the sum of £
or such other sum as may be

requisite, as a joint-stock or fund for the said purposes, and have
paid down the sum of £
, being full
parts thereof:
May it therefore please your Majesty that it may be enacted, and be
it enacted by the King's Most Excellent Majesty, by and with the
advice and consent of the lords spiritual and temporal, and com-
mons, in this present parliament assembled, and by the authority of
the same, That (2) it shall be lawful for [names of subscribers] to

Incorporation.

(1) The form of a BILL or PRIVATE ACT considered simply as such, for the establishment of a company, will be the same whatever the objects of the company may be, one general form only is therefore here given; but it may be easily adapted to particular objects by referring to the Forms of PARTNERSHIP COMPANIES inserted under that head post., any of the provisions in which may be introduced if thought fit.

(2) If the act is intended to incorporate the company, say, "That the said (names), and all and every such other person or persons as shall from time to time become proprietors of shares in the undertaking hereby established, as hereinafter is mentioned, and their respective successors, executors, administrators and assigns, shall be and they are hereby united into a company, and declared to be one body politic and corporate, by the name of "The

Company," and by that name shall have perpetual succession and a common seal, and by that name shall and may sue and be sued, plead and be impleaded, at law or in equity, and shall and may prefer and prosecute any bill or bills of indictment against any per

pounds,

PARLIAMENTA❤

RY FORMS.

Private Act Company (establishing).

Company em

powered to raise among

raise and contribute among themselves, in such proportions as to them shall seem meet and convenient, such sum or sums of money as they shall think necessary for the making, carrying on and completing the said, &c. [as the case may require] hereby authorized to be made, not exceeding in the whole the sum of (except as hereinafter is mentioned), and that the same shall be divided into such number of parts or shares as hereinafter directed; themselves. which money so to be raised as aforesaid, or a sufficient part there- Application of of, shall be laid out and applied, in the first place, in payment, sa- money. tisfaction and discharge of the costs, charges and expenses attending the obtaining and passing of this act, and the making of the proper surveys, plans and estimates, and the doing and providing of all the matters and things preparatory thereto; and all the residue of such money, or so much thereof as shall be necessary, shall be applied and disposed of for or towards the making, carrying on, completing and maintaining of the said, &c. and other works respectively, and for other the purposes of this act (1).

pounds The money

And be it further enacted, That the said sum of shall be divided into equal shares, and that no person shall take or subscribe for less than one share in the said undertaking; and such shares shall be numbered in regular numerical progression, and every share shall for ever afterwards be distinguished by the number to be appointed for the same; and the said shares shall be and they are hereby vested in the several persons, bodies politic and corporate, subscribing for and undertaking to raise and contribute to the same, and their respective executors, administrators, successors and assigns, to and for their own respective use and benefit, according and proportionably to the number of shares which they shall respectively subscribe for and undertake to raise and contribute; and all persons, bodies politic and corporate, and their respective executors, administrators, successors and assigns who shall subscribe for any share or shares in the said undertaking, and pay such sum or sums of money as shall be de

son or persons who shall commit any felony, misdemeanor, or other offence indictable by the laws of this realm, and shall by that name be authorized and empowered to purchase lands and hereditaments for the purposes of the said works, not exceeding

acres, without being subject to the penalties of the statutes of mortmain ;" and see post. p. 220.

(1) See other similar clauses, &c. post. p. 227. et seq.

raised to be di

PARLIAMENTA

RY FORMS.

Private Act
Company

manded on account thereof, not exceeding in the whole their proportionable part of the said sum of pounds towards the carrying on and completing the said &c. and other works hereby authorized to (establishing). be made, shall be entitled to and receive, after the same shall be completed, a due and just proportion, according to the respective number of shares, of the clear profits and advantages which shall or may arise or accrue by or from the monies to be raised, recovered or received by virtue of this act, according to the true intent and meaning thereof, and shall also from time to time bear and pay a like due and just proportion of the money wanted for carrying on the said undertaking in the manner hereinafter directed.

Names of proprietors and the numbers of their tered in a book,

shares to be en

And for the better securing to the several subscribers towards the said undertaking their respective shares therein, be it further enacted, That the said company, or their committee of management shall, as soon as the same can or may be done, cause the names and additions of the several persons who shall be entitled to any share or shares in the said undertaking, and the number of shares to which they shall be respectively entitled, and also the proper number by which every such share shall be distinguished, to be fairly and distinctly entered in a register book to be kept by the clerk to the said company, and [if a corporation, after such entry to cause the common seal of the said company to be affixed thereto;] which said book shall from time to time be altered and corrected, and new books from time to time be prepared, as the change of proprietors and transfer of shares shall Tickets for the render necessary or expedient; and the said company shall also cause as many tickets or instruments to be prepared as there shall be shares in the said undertaking, bearing respectively the same numbers as in the said books, and the common seal of the said company to be affixed to each of such tickets or instruments, and thereupon to cause to be delivered to every subscriber towards the said undertaking, upon demand, a ticket or tickets specifying the share or shares to which he or she is entitled in the said undertaking; and every such subscriber shall pay to the clerk to the said company

shares to be delivered to the subscribers:

which shall be

evidence of their title.

Company empowered to raise

and no more for every such ticket or instrument, and every such ticket or instrument shall be admitted as evidence in all courts whatsoever of the title of such subscriber, his or her executors, administrators and assigns, to the share therein specified, but the want of any such ticket or instrument shall not hinder or prevent the owner of any share from selling or disposing thereof, or from receiving annually his or her share of the profits of the said undertaking in respect thereof.

And be it further enacted, That if the said sum of

pounds,