Westralian Meat Works Act 1920 (WA)

No. 10.] Westralian Meat Works. [1920.

WESTRALIAN MEAT WORKS.

I l c GEO. V., No. X.

No. 10 of 1920.

AN ACT to enable the Westralian Meat Works, Limited, to proceed to allotment notwithstanding that the minimum amount of Shares mentioned in its Memorandum of Association has not been taken up.

[Assented to 3rd November, 1920.]

Preamble

HEREAS by the memorandum of association of the der the Companies Act, 1893, it was provided that the direc-WWestralian Meat Works, Limited, incorporated un-

tors would proceed to allotment upon eighty thousand shares being taken up in accordance with the terms of the pros- pectus issued by the company, and it is desirable that not- withstanding that applications for shares have not reached the requisite number, as provided by the said memorandum of association, the company should be authorised to proceed to allotment: Be it therefore enacted by the King's Most Ex- cellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of Western Australia, in this present Parliament assembled, and by the authority of the same, as follows:—

short 1. This Act may be cited as the Westralian Meat Works

Act, 1920.

Authority for

directors to	2. (1.) The directors of the Westralian Meat Works,
proceed to

allotment.	Limited, may proceed to the allotment of shares and com- mence operations and carry on business in pursuance of the objects contained in the memorandum of association of the said company, so soon as Fifty thousand shares have been applied for, notwithstanding that applications have not been made for the requisite number of shares as pro- vided by the memorandum of association.
(2.) The directors of the company shall not be liable, nor shall any member of the company have any recourse against the directors, for so proceeding to allotment and otherwise carrying out the objects of the company, or any of them, pursuant to the authority hereby conferred.