and the number of shares shall not exceed eight hundred: Provided always, that nothing herein-contained shall authorise the said Company to carry on the business of Banking. Eight hundred shares; Company not to Bank. be opened. V. And be it further enacted by the authority aforesaid, That Books of Books of subscription to Subscription shall be open within two months after the passing of this Act, when, where and by such person or persons, and under such regulations as the majority of the said Petitioners shall direct and appoint. Any number of shares VI. And be it further enacted by the authority aforesaid, That it shall and may be lawful for any person or persons to subscribe for any number may be subscribed; of shares, the amount whereof shall be due and payable to the said Company in the manner herein-after mentioned, that is to say: ten per How shares payable; cent on each share so subscribed shall be payable to the said Company immediately after the Shareholders shall have elected the number of Directors herein-after mentioned, and the remainder by Instalments of not more than ten per cent, at such periods as the President and Directors shall from time to time direct and appoint for the payment thereof: Forty days notice of Provided always, that no Instalment shall be called for in less than forty days after public notice shall have been given in the Upper Canada Gazette, and in some two or more Newspapers published in the said District of Gore. calling in instalments. pay instalments shares VII. And be it further enacted by the authority aforesaid, That if any if Stockholders refuse to Shareholder or Shareholders as aforesaid, shall neglect or refuse to pay to be forfeited, and sold; to the said Company any Instalment due on any share or shares held by him, her or them, at the time required by law, such Stockholder or Stockholders shall forfeit such share or shares, with the amount previously paid thereon, and the share or shares so forfeited shall be sold, for the best price that can reasonably be had for the same, in such manner as the Directors of the said Company shall think fit, and the proceeds thereof, together with the amount previously paid thereon, shall be accounted for the Company; and applied in like manner as any other funds of the said Company: Provided always, that such purchaser or purchasers shall pay to the said Purchasers to pay the Company the amount of the Instalment required over and above the purchase money. purchase money of the said share or shares, to be purchased by him, her or them as aforesaid, immediately after the sale, and before a Certificate of transfer of such share or shares shall be given. Proceeds to belong to instalments due and the payment of the first VIII. And be it further enacted by the authority aforesaid, That after Shares transferable after the first Instalment shall be paid as aforesaid on the respective share or instalment. shares of the said stock, the said share or shares shall become transferable on the books of the said Company. As soon as £20,000 subscribed, Meeting to be held to elect Directors; First Directors; Continuance in Office; When to commence business; No meeting without thirty days notice. Five Directors; President; Qualification of To hold office for a year; Public notice; How long; Who may vote at elec IX. And be it further enacted by the authority aforesaid, That so soon as Twenty Thousand Pounds shall have been subscribed, it shall and may be lawful for such subscribers, or any of them, to call a meeting at some place to be named in the Village of Oakville, for the purpose of proceeding to the election of the number of Directors herein-after mentioned; and such election shall then and there be made by a majority of shares voted for in manner herein-after prescribed, in respect of the Annual Elections of Directors; and the persons then and there chosen shall be the first Directors, and be capable of serving until the first Monday in August succeeding their election; and the Directors so chosen shall, so soon as a deposite amounting to One Thousand Pounds upon the shares subscribed as aforesaid shall be paid to the said Directors, commence the business and operation of the Company: Provided always that no such meeting of the subscribers shall take place until a notice thereof shall have been published in the Upper Canada Gazette, and in some two of the Newspapers printed in the District of Gore, at the distance of not less than thirty days previous to such meeting. X. And be it further enacted by the authority aforesaid, That the stock, property, affairs, and concerns of the said Corporation, shall be managed by five Directors, one of whom shall be chosen President by the Directors, which said Directors shall be Stockholders holding at least five shares each in the stock of the said Company, and shall hold their offices for one year, and be elected on the first Monday in August in each and every year, at such place in the said Gore District as the majority of the Directors for the time being shall appoint; and public notice shall be given by the said Directors in the Upper Canada Gazette, and in some two of the Newspapers printed in the said Gore District, of such place and the time of such election, not more than sixty nor less than thirty days previous to such election; and the said election shall be held and made by such of the Stockholders of the said Company as shall attend for that purpose in person or by proxy, and such elections shall be made by ballot, and the five persons having the greatest majority of votes shall Proviso in case of equal be Directors; and if it shall happen at any election that two or more persons have an equal number of votes so as that a greater number than five shall appear to be elected, then the said Stockholders so authorised to hold such election shall proceed to ballot a second time, and by a majority of votes determine which of the said persons so having an equal number of votes shall be the Director or Directors, so as to complete the number of five, and the said Directors so soon as may be after such election, shall proceed in like manner to elect by ballot one of their number to be President; and if any vacancy should at any time happen tions; number of votes ; Directors to choose vacancy. among the said Directors, or in the office of President, by death, resigna- Proviso in case of tion, or departure with the said qualification of holding the number of shares required as aforesaid, such vacancy or vacancies shall be filled for the remainder of the year in which they shall happen by a person or persons holding the requisite number of shares aforesaid, to be nominated by a majority of the said Directors. dissolved for want of an day. XI. And be it further enacted by the authority aforesaid, That in case it Company not to be shall happen at any time or times hereafter, that an election of Directors election on the regular should not be made on any day when pursuant to this Act it ought to have been made, the said Company shall not for that cause be deemed to be dissolved, but it shall and may be lawful on any other day to hold and make an election of Directors in such manner as shall have been regulated by the laws and ordinances of the Corporation. Powers of the Directors Company, the duty of matters; XII. And be it further enacted by the authority aforesaid, That the Directors for the time being, or a major part of them, shall have power to make rules touching to make and subscribe such rules, orders and regulations as to them shall the property of the appear needful and proper, touching the management and disposition of Officers, and other the stock, property, estate and effects of the said Corporation, and touching the duty and conduct of officers, clerks, and servants employed by the said Company, and all such other matters as shall appertain to the business of the said Corporation; and shall also have the power of appointing as many officers, clerks and servants, factors and agents for carrying Officers on the said business, and with such salaries and allowances as to them shall seem meet: Provided always that such rules and regulations be not to the laws of the repugnant to the laws of this Province. Power of appointing Rules not to be repugnant Province. be made; required, statement of made, as well as of XIII. And be it further enacted by the authority aforesaid, That it shall be the duty of the Directors to make half yearly dividends of so much Half yearly dividends to of the profits of the said Company as to the majority of them may seem advisable; and that once in every three years, or oftener if thereto required Once in three years, if by any number of Stockholders holding at least one-third part of the debts and credits to he shares or stock which shall then be subscribed for and taken up, an exact affairs of the Company. and particular statement of the debts and credits of the said Company, together with all other information concerning the affairs of the said Company within the knowledge and power of the said Directors, which shall be required by any number of Stockholders holding as aforesaid the third part of the stock then subscribed, shall be rendered and exhibited. XIV. And be it further enacted by the authority aforesaid, That each Stockholder shall be entitled to a number of votes, proportioned to the Stockholders entitled Number of votes to which number of shares which he or she shall have held in his or her own name according to their shares. at least three months prior to the time of voting, (except at the first election,) according to the following rates, that is to say: at the rate of one vote for each share not exceeding four; five votes for six shares; six votes for eight shares; seven votes for ten shares, and one vote for every five This Act not to affect the rights of the Crown, or others, except as is expressly provided. To be deemed a public Not to interfere with private vested rights. Legislature my alter this Act. Preamble. shares above ten. XV. And be it further enacted by the authority aforesaid, That nothing herein contained shall affect in any manner or way whatsoever the right of Her Majesty, Her Heirs and Successors, or of any person or persons, Bodies Politic or Corporate, except as is herein expressly provided. XVI. And be it further enacted by the authority aforesaid, That this Act shall be deemed and taken to be a public Act, and as such shall be judicially noticed by all Judges, Justices of the Peace, and other persons. without being specially pleaded. XVII. And be it further enacted by the authority aforesaid, That nothing in this Act shall interfere with or in any manner affect the private vested right of any person or persons whatsoever. XVIII. And be it further enacted by the authority aforesaid, That it shall remain in the power of the Legislature to make any alterations in the provisions of this Act, or addition thereto, which may seem to them expedient. CHAP. XXXIII. AN ACT to Incorporate certain persons under the name and style of the [Passed 10th February, 1840.] WHEREAS the construction of a safe and commodious Harbour, at the mouth of the Twelve Mile Creek, in the Gore District, would manifestly tend to the advantage of that part of this Province: And whereas J. B. Harrison, Ashman Pettit, Elijah Williams, James Belyea, Phellop Sovereign, John Bray, Joseph Triller, Joseph Hixson, John Riggs, Edward B. Palmer, and Joseph Simons, have petitioned to be by law Incorporated, for the purpose of effecting the construction of such Harbour by means of a Joint Stock Company: Be it therefore enacted by the Queen's most A Corporation erected, under the name of "the Company, of the Bronte Excellent Majesty, by and with the advice and consent of the Legislative Council and Assembly of the Province of Upper Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of Great Britain, entitled, "An Act to repeal certain parts of an Act passed in the fourteenth year of His Majesty's reign, entitled, ‘An Act for making more effectual provision for the Government of the Province of Quebec, in North America, and to make further provision for the Government of the said Province," and by the authority of the same, That the said J. B. Harrison, Ashman Pettit, Elijah Williams, James Belyea, Phellop Sovereign, John Bray, Joseph Triller, President, Directors and Joseph Hixson, John Riggs, Edward B. Palmer, and Joseph Simons, Harbour"; together with all such other persons as shall become Stockholders in such Joint Stock or Capital as is herein-after mentioned, shall be and are hereby ordained, constituted and declared to be a Body Corporate and Politic in fact, by and under the name and style of the "President, Directors, and Company of the Bronté Harbour," and that by this name they and their Corporate powers: successors shall and may have continued succession; and by such name shall be capable of contracting and being contracted with, of suing and being sued, pleading and being impleaded, answering and being answered unto, in all Courts and places whatsoever, in all manner of suits, actions,' complaints, matters and causes whatsoever; and that they and their Common Seal; successors may and shall have a common Seal, and may change and alter the same at their will and pleasure; and also that they and their successors by the same name of "The President, Directors, and Company of the Bronté Harbour," shall be in law capable of purchasing, having and holding to them and their successors any Estate, real, personal and mixed, to and for the use of the said Company, and of letting, conveying or otherwise departing therewith, for the benefit and on the account of the said Company, from time to time, as they shall deem necessary and expedient: Provided always that nothing herein contained shall extend, or be construed Not to carry on Banking. to extend, to allow the said Company to carry on the business of Banking. II. And be it further enacted by the authority aforesaid, That the said company authorised to Company are hereby authorised and empowered, at their own costs and erecta Harbour at the charges, to construct a Harbour at the mouth of the Twelve Mile Creek mile Creek. aforesaid, which shall be accessible to and fit, safe and commodious for the reception of such description and burthen of vessels as commonly navigate Lake Ontario; and also to erect and build all such needful moles, piers, wharves, buildings and erections whatsoever, as shall be safe and proper for the protection of the said Harbour, and for the accommodation and convenience of vessels entering, lying, loading and unloading K |