| shareholders and propr ie tors of t h e said I n s t i t u t i o n was duly convened a n d held on the first day of November last a n d by ad journment on t he | t h i r t e en th |
An Act to amend an Act inti tuled " An Act to
| " incorporate | the Australian | Subscription | Library |
| " and otherwise to alter and amend its | constitu- |
| "tion." | [7th April, 1866.] |
| WH E R E A S a n A c t was passed in t h e seventeenth year of t h e | re ign of H e r present Majesty by the t h e n Legis la ture of | th i s |
| Colony in t i tu led " An Act | to incorporate | the Australian | Subscription |
| Library | and otherwise to alter and amend its constitution | " whereby |
| i t was enac ted t h a t t h e said | L ib ra ry | should thereaf ter | be called | t he |
| " | Aus t ra l i an | L ib ra ry | a n d L i t e ra ry | I n s t i t u t i o n " | and | the | subscribers | and |
| shareholders | were incorpora ted by t h a t | n a m e a n d | by t h e said A c t |
| var ious provisions were made relat ive to t h e cons t i tu t ion and | manage |
| m e n t of | t h e | said | In s t i t u t i on | A n d whereas a general mee t ing of | t h e |
| t h i r t e en th | day | of | t h a t | m o n t h | and | t h e | four th | and | e leventh days of |
| December last | A n d whereas a t t h e said mee t ing | cer ta in | resolut ions |
were adopted a n d amongs t o thers for increasing t h e n u m b e r of shares in t h e proper ty of t h e said L ib ra ry and d iminish ing the price or nomina l va lue thereof and for m a k i n g other changes in t he const i tu t ion
| a n d | m a n a g e m e n t | of t he | said | L ib ra ry | which | cannot | be carr ied in to |
full effect wi thou t t h e aid of t he Legis la ture A n d i t is therefore expedient to a l ter and amend the said Ac t and to m a k e such provisions respect ing t h e said L ib ra ry as are here in contained Be i t therefore enacted by the Queen ' s Mos t Exce l l en t Majesty by and wi th t h e advice and consent of t h e Legislat ive Counci l and Legislat ive Assembly of New South Wales in P a r l i a m e n t assembled and by t h e au thor i ty of t he same as follows :—
1. Section six of t he said recited A c t is he reby repealed and
the n e x t following section shall s tand and be in force in l ieu thereof.
2. The n u m b e r of shares shall be and shall be l imited to two
thousand and t h e price or nomina l va lue of each share shall be five
pounds—each shareholder shall be charged wi th t h e annua l paymen t of
one pound per a n n u m in respect of each sha re—a shareholder may hold
more shares t h a n one a n d upon all occasions of vot ing in t h e concerns
of t he L ib ra ry shall be ent i t led to vote in respect of each share which he
m a y hold t he r e in—and t h e liabili ty of each shareholder shall be l imi ted
to t h e a m o u n t of his share or shares Provided t h a t each now exis t ing
shareholder shal l i n respect of each share now held by h i m be ent i t led
to four of t he said two t housand shares u p o n elect ing to t ake such
four shares in l ieu of each share now held by h i m on or before t h e
thir ty-f i rs t day of December nex t Provided also t h a t un t i l t he said
thir ty-first day of December n e x t or unless h e makes such election
earlier each now exis t ing shareholder shall r e ta in all t h e r igh t s and
privi leges now enjoyed by h i m a n d shall only be charged wi th t h e
a n n u a l paymen t of one pound for each share now held by h i m
Provided also t h a t if any now exis t ing shareholder shall no t m a k e
such election on or before t he said thir ty-f i rs t day of December now
n e x t ensu ing each share now held by h i m shall from and after t h a t
da te be and be deemed to be one share of t h e said two t housand
shares of five pounds each and shall confer and impose u p o n h i m t h e
same r igh t s a n d liabilities as other holders of t h e said shares of five
pounds each.
| 3. Excep t as he re in specially provided all t h e provisions of | t h e |
| said reci ted A c t as to t h e there in-ment ioned | one t housand shares of |
| of five pounds each. |
twenty-five pounds each shall apply to t h e said two thousand shares
4. Sect ion eleven of t h e said reci ted Act is hereby repealed a n d t h e nex t following section shall s tand a n d be in force in l ieu thereof.
5. Some token to be de te rmined on from t i m e to t ime b y the Commit tee shall he given to each shareholder in respect of every two shares he m a y hold and every holder of two shares shall be ent i t led to all t he privi leges a n d advantages of t he In s t i t u t i on and have free admission for himself and one lady to t h e lec tures and shall also in respect of every two shares held by h i m have t h e r igh t of t a k i n g out two sets of books a t one t ime a n d of a d m i t t i n g a visi tor to t h e l ibrary a n d reading room and to all t he privileges and advantages of t h e In s t i t u t i on except t a k i n g away books and free admission to t h e lec tures E v e r y such visitor shall be admi t ted u p o n p roduc ing t h e shareholders ' token and conforming to t h e laws and regula t ions of t h e L ib ra ry A n d every holder of one share shall be ent i t led to all t he
| privileges and advantages of t h e In s t i t u t i on | and free | admission | for |
| himself | to t h e lec tures b u t not of | admi t t i ng a visitor the re to . |
| 6. So m u c h of section fourteen of t h e said reci ted Ac t as p ro vides t h a t t h e shares shall be n u m b e r e d from | one | to one | t housand is |
| he reby repealed | a n d t h e shares shall be n u m b e r e d | from | one to two |
| thousand . |
7. Sections fifteen a n d s ixteen of t h e said reci ted A c t a re hereby
| repealed a n d t h e n e x t two following sections shall s tand a n d be | in |
| force i n l ieu thereof. |
| 8. There | shal l be a | Commit tee | of M a n a g e m e n t | consist ing of |
| t e n propr ie tors or shareholders all of w h o m shall after t h e first | e lect ion |
| be elected annua l ly a t a genera l | mee t ing to be held | in | t h e | m o n t h of |
| J a n u a r y in each | year in | t h e | m a n n e r | hereinaf ter | provided for | A n d |
the p resen t Commit tee of t h e Aus t r a l i an L ib ra ry a n d L i t e ra ry In s t i t u t ion shall be t he Commi t t ee of t he Corporat ion from t h e day of t h e pass ing of th i s Act u n t i l t h e genera l mee t ing of t h e propr ie tors a n d shareholders to be he ld as n e x t hereinaf ter provided for.
| 9. A t a genera l m e e t i n g which shal l be he ld wi th in | s ixty | days |
after t h e pass ing of th i s A c t a n d on t h e first day of J a n u a r y or w i th in t h i r t y days thereafter in every subsequent year t h e r e shall be an elect ion of a Commit tee for t h e m a n a g e m e n t of t h e affairs of t h e
| Corpora t ion u n t i l t h e end of | t h e cu r ren t year a n d | un t i l | a new | Com |
| m i t t e e shal l be appoin ted | unless t hey or any of | t h e m shall die res ign |
or cease to be a propr ie tor or shareholder A n d w h e n and so often as any of t h e member s of such Commit tee shall i n t h e course of t he year of the i r elect ion die res ign or become disqualified to ac t or incapable of ac t ing a special genera l m e e t i n g shal l be convened wi th in t h i r t y days thereaf ter for t h e purpose of e lect ing a m e m b e r to fill such vacancy a n d to exercise t h e said office for such t ime a n d w i t h t h e l ike power as t h e person so dying hav ing res igned or becoming disqualified to act or incapable of ac t ing would have done if no such vacancy h a d occur red E v e r y such Commi t t ee shal l a t the i r first mee t ing elect
| from | a m o n g themselves | a C h a i r m a n | and | a D e p u t y | Cha i rman | a n d | t h e |
Commit tee shal l also appoin t a Secretary and Treasurer .
4
| 10. Excep t as he re in is o therwise enacted all t h e provisions | of |
t h e said reci ted A c t shal l r e m a i n in force and t h e same w i t h t he provisions here in conta ined shall be read together a n d cons t rued as
| 1 1 . | This | A c t | m a y be ci ted for al l purposes as t h e " Aus t r a l i an |
| L ib ra ry | a n d | L i t e ra ry | I n s t i t u t i o n | A c t | A m e n d m e n t | A c t | of | 1866 . " |