Companies Act 1893 (SA)

.ANNO QUINQU,4GESIMO SEXTO ET QUINQUAGESIMO

SEPTIMO

No. 576. a

An Act to amend " The Companies Act, 1892," and for

other purposes.

[Assew fed to, Decem btw 23 rd, 1893 .]

E it Enacted by the Qovcrnor of the Province of South Aus- and .House of Assembly of the said province, in this present Par-	11: tralia, with the advice and consent of the Le@ative Council
1ia)ment assembled, as follows:

1. This Act may be cited as G Thc Companies dmcndment Act, shorttitlo.

1893."

2, I n place of the words in section 3 of The Companies Act, A~nendmentofsection 3 of The Companies

l8!K?," '' L C'ompaily,' except in Parts II., lII., IV., W., VIXI., and 1 8 0 2. ~ ~

A v

X, means a Company formed or registered under this Act, ' The Cornpanics ,4ct, 1863,' or ' Thc Mining Companies Act, 1881,' " shall be read the words, " Company in Parts V. and VII. means a Com- pany formed or registered under this Act, L The Companies Act, 1864,' or T h e Mining Companies Act, 1881.' "

3. (1) In section 3 of " Thc Companies Act, 1892," shall be Provisions as to

read at the end and as forming part of the dcfinition of foreign	foreign quaai-cor-
Company " the words '' and shall extend to and include any unin- incorporatcd joint stock Company which may sue or be sued or hold property in a common uame, and which shall not have its head office or principal place of business in South Australia "; but no such Company carrying on business in South Australia at the time of the passing of this Act need comply with the provisions of the

376 principal

56" & 57' VICTORIW, No. 576.

The Companies Amendment Act.-l $93.

principal Act, or of this Act, until after the thirtieth day of June,

one thousand eight hundred and ninety-four.

(2) In section 196 of " 'l'he Companies Act, 1892," &all be read

at the end and as forming part of sub-section 11. (a) the words or if the Company is not incorporated, then that the Company is privileged to sue or be sued or hold property in the common name mentioned in the power of attorncy in accordance with the law of the country

where the privileges are conferred ":

Amendment of sec -

tions 68, 76, 76, and 4. Section 68 of "The Companies Act, 1892," so far as sub-

77 of Com- sections I. . 11.. 111.. and IT. of such section arc concerned. and

paoies Act! 1892-"	sections 75, 76; and'77 of the same Act, shall apply to a no-liibility Company registered under such Act as well as to a Company
limited by shares. .

Amendment of 5, In section 196 of The Conipanies Act, 1892," sub-section IV.,

section 196 of The

Companies A C ~,	all the words after the word and " in the third line thereof are
1892 W	hereby repealed, and in lieu of the words so repealed shall be read the words if the Company bc incorporatcd cvidence of its incor- poration pursuant to section 207 of' this Act." This amendment shall not apply where a Company has, previously to the passing of this Act complied with sub-section 4 of section 196 of the prin- cipal Act.

h~ndmentofsection 6. In section 199 of The Companies Act, 1892," after the word

109 of " The Com-

panies A C ~.	1892,''	" death " in the ninth line thereof shall be read the word " or," and
after the figures G IV." in the eleventh linr thereof shall be read the
words " down to and inclusive of the word ' thereto.' "

Amendment efsection

2100f "TheCo?: 7, I n section 2 10 of " The Companies Act, 1802," shall be read

panies Act, 1892.

at the end and as forming part of sub-section (1) the words

except as regards the deposit in the office of the Registrar of

evidence of the incorporation of the Company."

foreign life aasurancc

Provision as to 8, Any forcign Company which has complied with sections 25

companies.

and 26 of the " Life Assurance Curapmies Act, 1882," shall, so long as the power of attorncy, copy whhweof has been deposited under these sections, continues in force, be deenled to have complied with section 196, sub-sections I,, 11 ., I I I., and 11.. of '' The Companies Act,

1892," except as rcgarcls the dcposit in the officc of thc Registrar

of evidence of incorporation; and compliance on the part of any forcign Life Assurance Company with the provisions of Part WIT. of

C S The Companies Act, 1892," shall be deemed to be compliance with

the provisions of the said sections 25 and 26 of the " Life Assurance

Companies Act, 1882."

~ttorney may dele- 9. I n section 196 of the principal Act shall be read at the end

gate powers. and as forming a new sub-section the words :-

vr, Where any foreign Company shall by power of attorney

(hereinafter referred to as the original power of attorney)

under its common seal, or executed in such manner as to

be

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The Companies Amendment Act.-l 893. -L

be binding on the Company, empower some person, whether in the Province or South Australia or elsewhere, to act as its attorney with the powers referred to in sub- section I., and such attorney shall, in exercisc of a power thereby conferred, delegate such powers to any other person or appoint a substitute in the said province to exercise such powers, such Company shall be deemed to have complied with sub-sections I., II., n r. , rv., and v.

(a) A declaration, with respect to such original power of attorney shall be made by one of the directors or the general manager or secretary of the Company, in accordance with the provisions of sub-section H., and such declaration shall be indorsed on or annexed to such original power of attorney:

(6) The deed under which such powers as aforesaid are

delegated, or substitutionary power of attorney as the case-may be (which deed and substitutionary power of attorney, as the case may be, are hereinafter included in the designation the sub-power of attorney"), shall be executed in the presence of two witnesses, and there shall be attached thereto a statutory declaration, made before a British Consul, notary, or other person autho- rised to take the same, by one of such attesting witnesses to the effect that such sub-power of attorney has becn duly executed:

(C) The Company shall deposit in the office of the Registrar

of Companies the original power of attorney, and

also the sub-power of attorney with the respective declarations attached thereto, and if the Company shall be incorpomtcd evidence of its incorporation, pursuant to section 207 of the principal Act:

(d) The attorney acting under the sub-power of attorney shall comply with sub-section v.

10, The Companics Act, No. 557 of 1892, is hereby amended Amenam~ntof sec-

tion 557 of " The

by leaving out the words "and shall be issued by the liquidator" at companies ~ ~ t,

the end of Regulation No. l I, in thc Rules for the Meeting of ~ 3 9 2. "

Creditors, Contributories, or Shareholders of a Company under

Liquidation."

11. This Act (section 3 excepted) shall be read as if it had been Th;eActretmepectivs.

passed immediately after the passing of " The Companies Act, 1892."

In the name and on behalf of Her Majesty, I hereby assent to

this Bill,

S. J. WAY, Lieutenant-Governor.

- -W -

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Adelaide: By authority, C. E. BRISTOW, Government