New South Wales Bank Act 1828 No 3a (NSW)

1828. 9 ’ GEO. IV. No. 3. 127

New South Wales Bank.

No. III.

An Act to enable the Proprietors of a certain new south wales

Banking Company heretofore carried on at

—

Sydney under the name and designation of the Bank of New South Wales commonly called the Old Bank of New South Wales to sue and be sued in the name of the President for the time-being of the said Bank And also to enable the Proprietors of a certain Baldwing Company to be established in Sydney under the name style and firm of the Bank of New South Wales commonly called the New Bank of Now South Wales to sue and bo sued in like manner in the name of the President for the time-being and for other purposes therein mentioned.

'TTTIIEllEA S the Old Bank of New South Wales notwithstanding Preamble.

the Cliarter of Incorporation which was granted to it by His late Excellency Sir Thomas Brisbane then Governor-in-Chief of the Territory of New South Wales and its Dependeiicies is and hath been in contemplation of law only a Joint Stock Company since the period of its establishment And whereas upon full knowledge and con­ sideration of this matter it lias been nevertheless deemed expedient by the majority of the Proprietors of the Joint Stock and Capital thereof that the said Bank of N cav South Wales should he remodelled and continued as well for the purpose of discount the issuing of notes and hills the lending of monies on securities and cash accounts the receiving of monies on deposit accounts the safe custody of monies securities for monies bullion treasure jewels plate and other articles not liable to spoil or waste as for the transacting and negotiating of all such other matters and things as have been heretofore done and performed by the said Old Bank of New South Wales or as are usually done and performed in anyivise relating to the ordinary business of hanking or as may hereafter he found advisable And whereas the Company about to carry on the said hank in such its remodelled and continued form consists of certain shareholders now resident within the said Colony of New South Wales hut many of whom or whose assignees may and will in the ordinary course of events become resident elsewhere And whereas the said shareholders by reason of the assignable property of the shares of the said hank must he and continue liable to constant change and fluctuation And whereas in order to obviate the diffi­ culties that may arise by reason of the premises in the institution of civil proceedings for debts damage or other legal or equitable liability by or against the said Company it would he convenient and just that some member of the Company should he enabled to sue and be liable to be sued in the place of the whole of the shareholders thereof And whereas in consequence of the remodelling and continuing of the Bank of New South Wales as aforesaid it has been agreed by the majority of the proprietors of old bank stock tliat the Charter of

V V

Incorporation

128 No. 3. 9̂ GEO. IV. 1828.

New South Whales Bank.

Incorporation so granted as aforesaid shall cease to he acted npon after the thirty-first day of December one thousand eight hundred and twenty-seven And it would he also expedient in order to enable the said Old Bank of New South Wales the more expeditiously to settle its afiairs and for the further security of the proprietors thereof that the like power of suing and being sued should he vested in some one proprietor thereof in place of the whole proprietors

President of the Bank Be it therefore enacted by His Excellency the Governor of

ma ŝue^mdb ŝued^®’” ̂South Walos with the advice of the Legislative Council That all

in his own name on actions and suits against any person or persons indebted or to he behalf thereof. indebted to either of the said Banks of New South Wales whether a

proprietor or proprietors thereof resjoectively or otherwise and all other proceedings at Law or in Equity to he commenced and prosecuted by or on behalf of the said hanks respectively or wherein the said banks respectively are or shall be in anywise concerned against any person or persons body or bodies corporate or politic shall and may be lawfully commenced and prosecuted in the name of the person who shall be the President of the said respective banks at the time any such action suit or other proceeding shall be instituted as the nominal plaintiff" complainant or petitioner for and on behalf of the said respec­ tive banks And that in all actions at law and all other suits and proceedings wherein an afiidavit of debt is required or customary it shall be lawful for the respective President of the said banks to depose and swear that the person or persons liable or indebted to the proprietors of the said banks respectively on any note bill bond mort­ gage or other security is and are indebted in the amount thereof to the said President on behalf of himself and others his partners in the said respective banks And that all actions suits and other proceedings at Law or in Equity to be commenced and prosecuted against the said bank respectively shall be commenced and prosecuted against the respective Presidents thereof for the time-being as the nominal defendants for and on behalf of the said banks respectively And that the death resignation removal or other act of the respective President of either of the said banks shall not abate any such action suit or other proceeding but the same may be continued where it left olf and be prosecuted and carried on in the name of any person who may be or become the respective President for the time-being of the said bank by which the same shall have been instituted and prosecuted.

Name of the Prcsi-	2 . And be it further enacted That a separate Memorial of the
be°nVto‘bl''reTOrdea	of the respective Presidents for the time-being of the said banks

s^reme'c'" effect for that purpose set forth in the Schedule

w X T thirty -rae hereunto annexed signed by the respective President and Directors of

of̂ ri" t)anks shall be recorded upon the oath of one or more creditable

o prescn onn. qj. •^yitnesses in the Supreme Court of New South Wales within

thirty-one days after the passing of this Act and when any Director shall be newly elected President of either of the said banks his name shall be recorded in the said Supreme Court in like manner within thirty-one days then next following Provided'always that the President and Directors for the time-being of the Old Bank of New South Wales on the said thirty-first day of December one thousand eight hundred and twenty-seven and the survivor or survivors of them shall be considered held and adjudged to be President and Directors of the said bank until the final close and settlement of the affairs and concerns of the same and until full and complete dividend division and transfer of all the capital stock estate effects property and increase thereof shall have been made and perfected among all such of the proprietors thereof and all such other persons as arc entitled thereto and that in the event of tlic death retirement or removal of the Director who shall fill such office of President for the time-being of

the

1828. 9̂ GEO. IV. No. 3. 129

Neio South JFalcs Bank.

the said bank on the said tliirty-first day of December then a Memorial siî iKid by the Director who shall at any time thereafter be elected President for the time-being of the said bank in the place or st(;ad of such dying retiring or removed President and l)y the then surviving Directors of tiie said bank shall be ro(;orded in the said Supreme Court in manner and witliin the time aforesaid and so totics quolics whenso­ ever any new election of a President for the time-being of the said bank shall become necessary by any of the causes aforesaid until the final close and settlement of the afiairs and concerns thereof.

3. Provided ahvays and be it further enacled That until such

separate Memorial be recoi’dcd by the said banks respectively in the banks. ”

manner aforesaid no action suit or other proceeding shall be brought

by such of the said banks as shall omit and neglect to cause such

jVIcmorial to be recorded in the name of the President thei'eof for the

time-being under the authority of this Act.

4. And be it further enacted That execution iipon any decree Execution obiained

or judgment in any such action suit or other procet'ding obtained nfaybUsll'io.iaĝ ^̂ ^̂

against the President for the time-being of tlie said banks respectively any proinietoi-or

wlietlier he bo j)laintitf or defendant tlicrcin maybe issued against and baXs?*°̂ **

levied upon the goods and chatttds lands and tenements of any

proprietor or proprietors Avhomsoever of the said bank for the time-

b(iing in like manner but not otherwise tlian as if such decree or judgment liad been obtained against him iier or them personally

provided always that every such President in wliose name any such

action suit or other proceeding shall l)e commenced prosecuted carried on or defended and every suc-h j)roprictor or ])i‘0})rietors against nhose goods and chattels lands and tenements execution upon any judgment

or decree shall be issued or levied as aforesaid shall in all cas(̂ s be Ami be nr tiiey sbaii

reiml)ursed and paid out oi tlic lunds oi tlio said respective banks or us funds.

in case of the insufiiciemey of such funds by general contribution

among the respective proprietors thereof for tlic time-being all such damages dues expenses costs and charges as by the event of any such

action suit or otlier proceeding he she or they shall or may be put unto or become chargeable Avitli and all sncli remedies shall be alloAved

as between the several proprietors of the said banks respectively for

the time-being as if this Act or Ordinance had not been passed.

5. And be it furtlier enacted That the provisions in this

contained shall extend and be construed deemed and taken to extend proprietors of tiio

to the said banks respectively as far as they arc respectively applicable

to the same at all times during the respective continuance of the

said banks and Avhether the said banks respectively be now or hereafter

bo composed of some all or any of the persons who were the original

or arc the present proprietors thereof respectively or be composed

altog(dher of persons who Averc not the original nor arc the present

proprietors of the said banks respectively.

G. Provided ahvays and be it further enacted That nothing herein contained shall extend or be deemed taken or constrned to rcTiJ^'e tiVem°from	not incorporate
extend to incorporate the proprietors of the said banks respectively or
to rtdievc or discharge them or any of them from any responsibility	’
duties contracts or obligations Avhatsoever Avhich by hiAV the said respective proprietors noAV are or at any time hereafter sliall be subject or liable to either betAveen the said banks respectively or other persons or betAAnen the individual proprietors ol‘ tlu'. said respective banks or any of them and others or amongst themselves respectively or in any other manner Avhatsocvcr except so far as the same responsibility duties contracts or obligations is arc or may be affected by the j>ro- visions of this A(d or Ordinance and the true intent and meaning of the same.

R 7.

130 No. 3. 9̂ GEO. IV. 1828.

New South Wales Banh.

All bonds and other	7 . And be it further enacted That all bonds mortgages warrants
securities not assign­

able in law may be	of attorney and otlier securities not being assignable in law whicli
sued for in the name
of the President for	have heretofore been taken by the Bank of New South Wales com­
the time-being.	monly called the Old Bank of New South Wales in the name of the said Bank of New South Wales or in the name of the Cashier or of the President or of any of the Directors for the time-being or of any of the proprietors thereof and all bonds mortgages warrants of attor­ ney and other securities of the like nature which shall or may at any time hereafter be taken in the name of any person as the President for the time-being of the said banks respectively for and on account of the said respective banks shall and may be put in suit and be sued and prosecuted upon at Law or in Equity in the name of any person who shall be the President of the respective bank upon whose account the said bond mortgage warrant of attorney or other security as aforesaid shall have been taken at the time any such suit or other proceeding in respect thereof shall or may be instituted notwithstanding that the name of such respective President for the time-being be not inserted in such bond mortgage warrant of attorney or other security as aforesaid as obligee assignee or payee of the sum or sums of money therein respectively mentioned and the death retirement removal or other act of any such President of the said banks respectively in whos(3 name such suit or other proceeding may or shall be insti­ tuted as aforesaid shall not abate the same but the said suit or other proceeding may be continued where it left off in the name of any person who may succeed to the office of such respective President for tlie time-being of the said banks upon entering in the said Supreme Court in any stage of snch suit or other proceeding a suggestion of such death retirement removal or other act of such President as afore­ said and the legal estate in all lands tenements and hereditaments
And all legal right.s
and capacities shall	belonging or mortgaged to such respective banks And all legal rights
become vested in him.	and capacities in respect of the said respective banks shall liecome vested in such new I ’residcnt thereof respectively for the time-being to all intents and purposes immediately upon delivery of the said respective Memorials to the Supreme Court and so totics qiioties whensoever any new election of a President for the time-being of the said respective banks shall take place and such due Memorial thereof be delivered as aforesaid.

Forms of Memorials MEMORIAL of tlie name of the I’rcsidont of the Bank of New Soutli Wales commonly referred to. called the Old Bank of New South Wales to be recorded in the Supreme Court of Now

South Wales in pursuance of an Act of His Excellency the Governor in Chief of the Territory of New South Wales and its Dependencies with the advice of the Legislative Council passed in the ninth year of the reign of Ili.s Majesty King George the Fourth intituled “ An Act to enable the Proprzetoi-s o f a cevlain Hanging Company heretofore “ carried on at S',dncy under the name and designation of the Banlc of Kew ISouth Wales “ commonly called the Old Bank of New Bouih Hales to sue and be sued in the name of the “ President fo r the time-being of the said Bank and also to enable the Progwiclors of a “ certain Banking Comp>amj to he established in Sydneg under the name style and Jinn of “ the Bank of New South Wales commonly called the New Bank of New South Wales to “ sue and be sued in like manner in the name of the President for the time-being and fo r “ other purposes therein mentioned:’

A. B. P r e s id e n t .

(Signed) C.D. r i . J .

E. F. j- D irectors } K. L.

G . H . ) ( m . N.

(_). P. of Sydney gentleman secretary accountant teller or clerk (as the case may be) of the Bank of New South Wales commonly called the Old Bank of New South IVhdes maketh oath and saith that he was pi'osent and did see the foregoing Memorial signed by the respective parties whoso names appear thereto.

Mem oria l

No. 4. 9" GEO. IV. 1828. 131

Census.

Mem o r ia l o f --------------------- tlic name of tlio Pi’csident of the Bank of Now Soutli Wales

(coimiioiily called the New Bank of New South Wales) to be recorded in the Supreme

Court of New South Wales in pursuance of an Act of llis hlxccllcnoy the Covernor in

Chief of the Territory of New South Wales and its Dependencies with the advice of the

Legislative Council passed in the ninth year of the reign of l l is Majesty King George the

Fourth intituled '* An Act to enable the Projorletors o f a certain Banking Company

“ heretofore carried on at Sydnei/ under the name and designation of the Bank of New South

“ Wales commonly called the Old Bank of New South Wales to sue and he sued in the name

“ of the President fo r the time-being of the said Bank and also to enable the Proprietors of

“ a certain Banking Company to he established in Sydney under the name style and firm of

“ the Bank of New South Wales (commonly called the New Bank of New South lla/cs) to

“ sue and be sued in like manner in the name of the President fo r the time-being and for

“ otherpwposes therein mentioned.’’

A. B. P r e sid e n t .

(Signed) C. D. I ( I . J .

E. F. V D irectors \ K. L. G. H . ) ( m . N.

O. P. of Sydney gentleman secretary accountant teller or clerk (as the case may be) of the Bank of New South Wales commonly called the New Bank of New South IVales maketh oath and saith that he was present and did see the foregoing Memorial signed by the respective parties whose names a]ipear thereto.