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No. 13.
An Act for the Incorpmation, Rcqalation, and Wifiding up of
Trading Companies nnd" other Associations. [Assented to, 9th December, l86
4.1 THEREAS it is expedient that the laws relating to the Incor-
Preamble. poration, Regulation, and Wifiding up of Trading Companies and other Associations should
bc consolidated and amended-Be it therefore Enacted, by the Governor-ill-Chief of the Province of South Australia, with the advice and consent of the Legislative Council and House of Assembly of the said Province, in Parliament assembled, as follows:
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PRELIMINARY.
title |
Act, 1864."
shall mean a company undcr this Act, the liability of tohe members of which is, by their memorandum of associs.tion, limited to ,the amount (if any) unpaid on the shares respectively held by them; the expression
" A company limited by guarantee," shall mean a company under this Act, the liability of the members of which is, by their memorandum of association, limited to such an amount asthe members may, respectively, undertake by such memorandum to
contribute to the assets of the company in the event of its being wound up; the expression An unlimited company," shall mean a company under this
Act, formed on the principle of having no limit placed on the liability of its members.
3. For
* | busirless of insurance in common with any other business or busi- *nesses shall be deemed to be an insurance company. |
pf | ~ r t -, | 4.:No | company, association, or partnership, consisting of more than |
ned ipr eaeec&ng
r t e n persons shall be formed after the coming into operation of | this |
Act for the purpose of carrying on the business of banking, unless i t is formed in pursuance of some other Act, either of the Imperial |
~ & ~ g ? u - ? / ~ a r l i a m e n t. | or of the Parliament of the said Province, or of Letters |
Patent;
and no company, association, or partnership consisting of more than twenty persons shall be formed after the coming into operation of this Act for the purpose of carrying on any other b~winessthat has for its object the acquisition of gain by the company, asso- ciation, or partnership, or by the individual members thereof', unless
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- i t is re istered as a c e o |
5. This Act is divided into eight parts, relating to the following subject mattcrs- |
The First Part-To | the conskltution… |