New South Wales: Australian Marine Assurance Company Act 1832 3 Wm IV (NSW)

1832. 3° GUL. IV. Australian Marine Assurance Compan yf. An Act to enable the Proprietors of a certain Joint Stock Company carried on in the Town of Sydney in the Colony of New South Wales under the name style or firm of " The Australian Marine Assurance Company" to sue and be sued in the name of the Chairman of the said Company for the time being and for other purposes therein mentioned. [27th September, 1832. | IWEREAS some short time since a certain joint stock company under the name style or firm of "The Australian Marine Assurance Company" for the purpose of effecting marine insurances of discounting promissory notes or bills and of lending moneys ou other sccuritics was established in Sydney in the Colony of New South Wales -And whereas the said company consists of about seventy different propricters or shareholders some of whom reside within the said Colony of New South Wales and others of whom are absent in parts beyond the seas And whereas the said company is under the management and control of eleven Directors onc of whom is the Chairman of the said Directors And whereas difficultics may arise in recovering debts due to the said company and in maintaining actions or 'proceedings for damages done to their pro- perty and it would also be convenient and just that persons having demands against the said company should be entitled to sue some member thereof in the place and stead of the whole And whereas these purposes cannot be cifected without the aid and authority of the Legislature Be it thevefore enacted by Lis Excellency the Governor of New South Wales with the advice of the Legis Jative Council thereof That ail actions and suits against any person or persons indebted to the said eonipany whether a member or members thereof or otherwise and all other proceedings at law or in equity to be instituted and prosceuted by or on behalf of the said company or wherein the said company is or shall be in any way concerned against any person or persons body or bodies politic ov corporate shall and ms ry be lawfully instituted and prosecuted in the name of the person who shall be the Chairman of the said company at the time any such action suit or other proceeding shall be insti- tuted as the nominal plaintiff complainant or petitioner for and on behalf of the said company and that all actions suits and other proceedings at law or in equity to be commenced instituted and prosecuted or carried on against the said company shall be instituted and prosceuted against the Chairman for the time being of the said company as the nominal defendant for and on behalf' of the said company and the death removal resignation or other act of such Chairman whose name shall be so made use of in any such action suit or other proceeding shall not abate any such action suit or other proceeding but the same may be continued prosecuted and carried on in the name of any person who may be or become the Chairman of the said company for the time being. 2. And be it further enacted That a memorial of the names of the Chairman and Directors of the said company in the form and to the effect for that purpose set forth in the schedule hereunto annexed AvsTRaLiaAN Marine ASSURANCE CoMPANY. Preamble. All actions for or against the company to be in the name of the Chairman for the time being. Names of the Chair- man and Directors to he recorded in the Supreme Corrt. Till then no action may be brought by the company. Chairman to be com- petent as a witness although plaintiff or dotendant in the action, Fach member to be primarily liable. Act not to be affected hy change of propri- elors. Not to incorporate. the proprietors or relieve them from individual responsi- bility. All actions to be brought in the name of the Chairman for the time being although the name of his predecessor : > GUL. IV. 1839. Australian Marine Assurance Company. annexed signed by the Chairman and by the several Directors of the said company shall be recorded in the Supreme Court upon the oath of one or more credible witness or witnesses within thirty-one days after the passing of this Act or Ordinance and when any Director shall be newly elected Chairman of the said company his name shall be recorded in the Supreme Court in like manner within thirty-one days then next following Provided always that until such memorial as hereinbefore mentioned be recorded in manner herein directed no action suit or other procecding shall be brought by the said company as aforesaid under the authority of this Act or Ordinance. 3. And be it further enacted That the Chairman for the time being being the plaintiff complainant petitioner or defendant in any such action suit petition or other proceeding as aforesaid on behalf of the said company shall not affect the competency of any such Chairman so as to prevent him from being a witness in any such action suit petition or other proceeding in the same manner as he might have been if his name had not been made use of as such plaintiff complain- ant petitioner or defendant in any such action suit petition or other proceeding. 4, And be it further enacted That execution upon any decree or judgment in any such action suit petition or other proceeding obtained against the Chairman for the time being of the said company whether he be plaintiff or defendant therein may be issued against and levied upon the goods and chattels lands and tenements of any pro- prictor or proprietors whomsocver of the said company for the time being in like manner as if such decree or judgment had been obtained against him her or them personally but not otherwise and that every such Chairman in whose name any such action suit petition or other proceeding shall be commenced prosceuted carried on or defended and every such proprictor or proprictors against whose goods and chattels lands and tenements execution upon any judgment or decree shall be issucd or levied as aforesaid shall always be reimbursed and paid out of the funds of the said company all such damages dues expenses costs and charges as by the event of any such proceedings he she or they may be put unto or become chareca vble with and all such remedies shall be allowed as between the several proprictors of the said company for the time being as if this Act or Ordinance had not been passed. 5. And be it further enacted That the provisions in this Act contained shall extend and be construed deemed and taken to extend to the said company at all times during the continuance of the same whether the said company be now or hereafter composed of some all or any of the persons who were the original or are the present pro- prictors thereot or be composed altogether of persons who were not original nor are proprictors of the same. G. Provided always and be it further enacted That nothing herein contained shall extend or be deemed taken or construed to extend to incorporate the proprictors of the said company or to relieve discharge them or any of them from any responsibility duties contracts or obligations whatsoever which by law they now are or at any time hereafter shall be subject or liable to cither between the said company or others or between the individual proprictors of the said company and any of them and others or amongst themselves or in any other manner whatsoever except so far as the same may be affected by the provisions of this present Act or Ordinance and the true intent and meaning of the same. And be it further enacted That all bonds mortgages warrants of attorney and other securities not being assignable in law which have been or which shall or may at any time hereafter be taken in the name of the Chairman of the said company for and on account of the 1832. Australian Marine Assurance Company. the said company shall and may be put in suit and be sued and be inserted in the . : . . . ° Me tiaazaq Obligatory instru. prosecuted upon at law or in equity either in the name of the Chairman jrant upon which in whose name the same may have been taken or in the name of any such action is other person who shall or may succeed to that office and be the "4 Chairman of the said company at the time any such procecdings shall or may be instituted notwithstanding the name of any such succeeding Chairman be not inserted in such bond mortgage warrant of attorney or other security as an obligee mortgagee assignee or payee of the sum or sums of money mentioned therein and the death removal resigna- tion or other act of any such Chairman of the said company for the time being shall not abate any action suit or other proceeding had therein but the same may be continued prosecuted and carried on in the name of any person who may succced to that office or become the Chairman of the said company for the time being and the legal estate in all lands and tenements belonging or mortgaged to the said company and all legal rights and capacities in respect of the said company shall become vested in such new Chairman as aforesaid to all intents and purposes immediately upon delivery of the said memorial to the said Supreme Court of New South Wales and so todies quoties whensoever any new appointment or election of a Chairman for the time being of the said company shall take place and such memorial thereof be duly delivered as aforesaid. 8. Provided always and be it further enacted That nothing in Net to affect the . P : . ' rights of His Majesty this Ordinance contained shall he deemed to affect or apply to any oror others not. right title or interest of ILis Majesty his [[cirs and Successors or of mentioned herein, any body corporate or politic or of any other person or persons execpt- ing such as are mentioned herein or of those claiming by from or under him or them. 9. And be it further enacted That this Ordinance shall not. Act not to take effect commence or take effect until the same shall have reccived the Royal ili sil have, approbation and the notification of such approbation shall have been approbation," made by His Excellency the Governor in the New South Wales Government Gazelle. MEMORIAL REFERRED TO, Memortan of the names of the Chairman and Directors of "The Australian Marine -Assurance Company" to be recorded in the Supreme Court of New South Wales in pur- stance of an Act of the Governor and Council passed in the third year of the reign of His Majesty King William the Fourth intituled "An Act fo cnable the Proprictors of a certain " Joint Stock Company carried oa in the Town of Sydney in the Colony of New South " Wales under the name style or firm of "The Australian Marine Assurance Company' to « sue and be sued in the name of the Chairman cf the said Company for the tinc being and for other purposes therein mentioned." A. B. Chairman. AB Dopo ( EE C.D. 5 Pitectors GL &e. O. P. of Sydney Gentleman of the Australian Marine Assurance Company maketh oath and saith that he was present snd did see the foregoing memorial signed by the respective partics whose names appear thereto. An