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Will V. United Lankat Plantations, [1914] A. C. 11; 83 L. J. (ch.)

195; 109 L. T. 754; 21 Manson, 24; 58 Sol. Jo. 29; 30 T. L. R.

37 358, 375

Williams, Ex parte. Re Davies (1872), 7 Ch. App. 314; 41 L. J. (bcy.)

38; 26 L. T. 303; 20 W. R. 430 1347

Williams, Ex parte. Re Madrid Bank. See Madrid Bank, Re, Ex
parte Williams.

Ex parte. Re Kit Hill Tunnel. See Kit Hill , Timnel, Re,

Ex parte Williams.

V. Chester and Holyhead Railway Co. (1851), 15 Jur. 828 . 445

V. Frere, Re Smith. See Smith, Re, Williams v. Frere.

V. Harding (1866), L. R. 1 H. L. 9 ; 35 L. J. (bcy.) 25 ; 14

L. T. 139 ; 12 Jur. (n. s.) 657 ; 14 W. R. 503 . 1273, 1307

V. Hathaway (1877), Ch. D. 544 674

— u. Peel River Land (1887), 55 L. T. 689 . . . .401

Williams' Case, Re Himaber Ironworks & Shipbuilding Co. (1875), 1

Ch. D. 576 ; 45 L. J. (ch.) 48 . . . . 1266

Re Imperial Mercantile Credit Association (1869),

L. R. 9 Eq. 225 n 1267

Williams & Co., Re, [1913] 2 K. B. 88 ; 82 L. J. (k. b.) 459 ; 108 L. T.

585; 20 Manson, 21 ; 5Y Sol. Jo. 285; 29 T. L. R. 243, C. A. 1144,

1189, 1190
Williams, Hollins & Co. v. Pa^et, [1917] 1 Ch. 187; 86 L. J. (en.)

287; 116 L. T. 9; 61 Sol. Jo. 70 444

Willmottu. London Celluloid Co. (1885), 52 L. T. 642, C. A. . . 664

V. (1880), 34 Ch. D. 147; 56 L. J. (cH.)

89; 55 L. T. 696; 35 W. R. 145, C. A. 534, 536, 718, 1228
V. London Road Car Co., [1910] 2 Ch. 525 ; 103 L. T.



447 ; 27 T. L. R. 4 ; 55 Sol. Jo. 873, C. A 209

Willson, Re, Ex parte Nicholson. ^S'ee Nicholson, Ex parte. Re Willson.

• V. Love, [1890] 1 Q. B. 626 ; 65 L. J. (Q. n.) 474 ; 74 L. T.

080 ; 44 W. R. 450, C. A 210



ccxliv Table of Cases



Wilmer v. McNamara & Co., [1895] 2 Ch. 245 ; 64 L. J. (cH.) 516 ;

72 L. T. 552 ; 43 W. R. 519 ; 13 R. 513 . . . . 101

WUson (1912), 50 S. L. R. 161 ; [1912] 2 S. L. T. 330 .. . 975

— Ex Parte, Re Crenver and Wheal Abraham United Mining

Co. (1872), 8 Ch. App. 45 ; 42 L. J. (ch.) 81'; 27 L. T.

597 ; 21 W. R. 46 409

Ex parte. Re Smith. See Smith, Re, Ex parte Wilson.

— Re, Ex parte Hastings (Lord) (1893), 62 L. J. (q. b.) 628;

5 R. 455 ; 10 Morr. 219 1387

V. Bury (Lord) (1880), 5 Q. B. D. 518 ; 50 L. J. (q. b.) 90 ; 44

L. T. 454 ; 45 J. P. 420 ; 29 W. R. 269, C. A. . 398, 434
V. Church (1879), 13 C. D. 1 ; 41 L. T. 50 . . . 540, 551

V. Gabriel (1863), 4 B. & S. 243 ; 8 L. T. 502 ; 11 W. R. 803 719

-^ V. Kelland, [1910] 2 Ch. 306 ; 79 L. J. (ch.) 580 ; 103 L. T.

17 ; 26 T. L. R. 485 ; 54 Sol. Jo. 542 ; 17 Mans. 233 . 535
w. Metcalfe (1839), 1 Beav. 263 1349

V. Natal Investment Co. (1867), 36 L. J. (ch.) 312; 15 L. T.

658 1028

—— — V. West Hartlepool Rail. Co (1865), 2 De G. J. & S. 475, 34 L. J.

(CH.) 241; 11 L. T. 692; 11 Jur. (n. s.) 124; 13 W. R. 361,

C. A 192

Wilson's Case, Re, Albert Life Assurance Co. (1869), L. R. 8 Eq.

240 ; 38 L. J. (cH.) 526 ; 21 L. T. 164 ; 17 W. R. 979 . . 1265

Wiltshire Iron Co., Re, Ex parte Pearson (1868), 3 Ch. App. 443 ; 37

L. J. (CH.) 554 ; 18 L. T. 38 ; 16 W. R. 682 . 1012,

1015, 1016
V. Great Western Railway (1871), L. R. 6 Q. B.

776 ; 40 L. J. (q. b.) 308 ; 23 L. T. 666 ; 19 W. R. 935 . 1016, 1017
Wunbledon Olympia Ltd., Re, [1910] 1 Ch. 630 ; 79 L. J. (ch.) 481 ;

102 L. T. 425 ; 17 Mans. 220 274

Wincham Sliipbuilding Co., Re, Hallmark's Case. See Hallmark's

Case, Re Wincham Shipbuilding Co.
Windschuegl v. Irish Polishes, [1914] 1 I. R. 33 . . . . 670

Winehouse v. Winehouse, Re Maggi. See Maggi, Re, Winehouso v.

Winehouse.
Wingfield v. Blair, Re Ross. See Ross, Re, Wingfield v. Blair.
and Blew, Ex parte. Re Bright. See Bright, Re, Ex parte

Wingfield and Blew.
Winstone's Case, Re, Albion Assurance Society (1879), 12 Ch. D. 239 ;

48 L. J. (CH.) 607 ; 40 L. T. 838 ; 27 W. R. 752 . 1270, 1271, 1279
Winter, Re, Ex parte BoUand (1878), 8 Ch. D. 225 ; 47 L. J. (bcy.)

52 ; 38 L. T. 362 ; 26 W. R. 512 1388

Winterbottom, Re, Ex parte Winterbottom (1886), IS Q. B. D. 446 ;

56L. J. (Q. B.) 238; 56L. T. 168; 4Morr. 5 . . . .1141

Wise, ^xprar^e (1853), 1 Drew. 465 910

V. Perpetual Trustee Co., Ltd., [19031 A. C. 139 ; 72 L. J. (p. c.)

31 ; 87 L. T. 569 ; 51 W. R. 241 ; 19 T. L. R. 125 . . 339, 1260

Withernsea Brickworks, Re (1880), 16 Ch. D. 337; 50 L. J. (CH.)"

185 ; 43 L. T. 713 ; 29 W. R. 178, C. A. . 1022, 1023, 1224, 1347

Woking Urban Council (Basingstoke Canal) Act, 1911, Re, [1914]

1 Ch. 300; 83 L. J. (CH.) 201 ; 110 L. T. 49; 78 J. P. 81 ; 12

L. G. R. 214; 30T. L. R. 135, C. A. . 560,662,902,1126,1173
Wolfe (Thomas) and Son, Re, [1912] W. N. 286 . . . . 777

Wolmerhausen v. Gullick, [1893] 2 Ch. 514; 62 L. J. (ch.) 773; 68

L. T. 753 ; 3 R. 610 . . 1376



Table of Cases ccxlv

PAGE
Wolverhampton District Brewery, Ltd., 2?e, Dowries v. Wolverhamp-
ton District Brewery, Ltd., W. N. (1899) 229 . . . 653, 701
Wolverhampton New Waterworks v. Hawksford (1800), 7 C. B.
(N. s.) 795; 29 L. J. (c.p.) 121; affirmed, 11 C. B. (n. s.) 450; 31
L. J. (c. p.) 184; 5 L. T. 618; 10 W. R. 153; 8 Jur. (n. s.)

844 . . . 233

Wood V. Anderston Foundry Co. (1888), 36 W. K. 918 . . .389

V. Connolly Brothers, Ltd., Re Connolly Brothers, Ltd. jb'ee

Connolly- Brothers, Ltd., Re, Wood v. Connolly Brothers,
Ltd.

V. Odessa Waterworks Co. (1889), 42 Ch. D. 636 ; 58 L. J. (ch.)

628 ; 37 W. R. 733 ; 1 Meg. 265 . . . 105, 119, 355

V. Woodhouse and Rawson, Ltd., W. N. (1896) 4 . . .1172

Wood's Case (1858), 3 De G. & J. 85; 28 L. J. (ch.) 899; 2L.T. 08;

5 Jur. (N. s.) 1377 248, 1247

Wood's (A. M.) Ships Woodite Protection Co., Re (1890), 62 L. T. 760 ;

2 Meg. 164 398, 438, 440

Wood Green and Hornsey Steam Laundry, Re, [1918] 1 Ch. 423; 87

L. J. (CH.) 171 ; 118 L. T. 501 ; 62 Sol. Jo. 349 . . 662, 714

Woodall V. Chfton, [1905] 2 Ch. 257 ; 74 L. J. (ch.) 555 ; 93 L. T.

257 ; 54 W. R. 7 ; 21 T. L. R. 581, C. A 555

Woodf all's Case, Re, Universal Salvage Co. (1849), 3 De G. & Sm. 63 ;

14 Jur. 29 . ' 1247

Woodhams v. Anglo -Australian Life Assurance Co. (1861), 3Giff. 238;

5 L. T. 628; 10 W. R. 290; 8 Jur. (N. s.) 148. . , ,544

Woodhouse & Co. v. Woodhouse (1914), 30 T. L. R. 559, C. A. . . 304

Woodrow Hooper & Co., i2c, W. N. (1893) 38 . . . .978

Woods, Re, Ex parte Ditton. See Ditton, Ex parte. Re Woods.
Woods V. Winskill, [1913] 2 Ch. 303; 82 L. J. (cH.) 447; 109 L. T.

399; 57 Sol. Jo. 740 558,667

Wool Industries Employers' Assurance Association, Ltd., Re, W. N.

(1899) 259 803, 891

Woolaston's Case, Re Home Comities, etc. Assurance Co. (1859), 4

Do G. & J. 437 ; 5 Jur. (n. s.) 853, C. A. . . 248, 320, 1249

Woolf V. East Nigel Gold Mining Co., Re (1905), 21 T. L. R. 660 . 439

WooUey CoalCo., W. N. (1891) 19 754,805

Woohner, Ex parte (1853), 2 De G. M. & G. 605 ; 17 Jur. 903 . .1311

Worcester Corn Exchange Co., Re (1853) 3 De G. M. & G. 180 ; 22

L. J. (CH.) 593 ; 17 Jur. 721 ; 1 W. R. 771 . . . . 1300

Worldng Men's Mutual Society, Re (1882), 21 Ch. D. 831 ; 51 L. J.

(CH.) 850 ; 47 L. T. 645 ; 30 W. R. 938 1181

World of Golf, Re (1914), 59 Sol. Jo. 7 979

World Industrial Bank, Ltd., Re, [1909] W. N. 148 . . . 944

Worth's Case (1859), 4 Drew. 529 ; 28 L. J. (ch.) 589 ; 5 Jur. (n. s.)

504 ; 7 W. R. 281 271

Worthington, Re, [1914] 2 K. B. 299 ; 83 L. J. (ic. b.) 88.j; 110 L. T.

599; 21 Manson, 119, C. A 190, 214, 217, 527

Wragg, Re, [1897] 1 Ch. 796 ; 06 L. J. (ch.) 419 ; 76 L. T. 397 ;' 45 '

W. R. 557, C. A 314, 1198

Wreck Recovery and Salvage Co., Re (1880), 15 Ch. D. 353; 43 L. T.

190 1107, 1168

Wrexham, Mold and Connah's Quay Rail. Co., Re, [1899] 1 Ch. 440 ;
68 L. J. (CH.) 270 ; 80 L. T. 130 ; 47 W. R. 464 ; 15 T. L. R.

122 ; G Mans. 218, C. A 530,1383

Wright, Ex parte. Re Johnson. See Johnson, Re, Ex parte Wright.



ccxlvi Table of Cases

PAGE
Wright, Ex parte, Re London and Birmingham Flint, Glass, and
AlkaU Co., Ltd. See London and Birmingham Flint,
Glass, and Alkali Co., Ltd., Re, Ex parte Wright.

V. Dee Estates, Ltd., Re, Dee Estates, Ltd. See Dee

Estates, Ltd., Re, Wright v. Dee Estates, Ltd.

V. Horton (1887), 12 App. Cas. 371 ; 56 L. J. (ch.) 873 ; 56

L. T. 782 ; 52 J. P. 179 ; 36 W. R. 17 . . 646, 648

V. Revelstoke (1914), l^imes Newspaper, February 7th. . 569

Wright's Case (1868), L. R. 12 Eq. 334 n. . 95,328,459,1232,1296

, Re Anglo-Romano Water Co. (1870), 5 Ch. 437; 39

L. J. (CH.) 771 ; 23 L. T. 130 ; 18 W. R. 777 1174,

1446, 1461

, Re London and Mediterranean Bank (1871), 7 Ch. App.

55 ; 41 L. J. (CH.) 1 ; 25 L. T. 471 ; 20 W. R. 45 236,

1278
Wrysgan Slate Co., Re, Humby's Case. See Hiimby's Case, Re

Wrysgan Slate Co.
Wylde V. Radford (1864), 33 L. J. (cH.) 51 ; 9 L. T. 471 ; 9 Jur.

(N. s.) 1169; 12 W. R. 38 1351

Wyldman, j5;a;?jar<c (1750), 2 Ves. Sen. 113 1374

Wyleyu. Exhall Coal Mining Co. (1864), 33 Beav. 539 . . .1028

Wynne's Case, Re United Ports and General Insurance Co. (1873), 8 Ch.

App. 1002 ; 43 L. J. (en.) 138 ; 29 L. T. 381 ; 21 W. R. 895 . 248,

250, 1251
Wyvem KidCo. (1912) (imreported) 1424,1458



X.

X Co., Ltd., Re, [1907] 2 Ch. 92 ; 76 L. J. (cH.) 529 ; 97 L. T. 50 ;

14 Mans. 227 1432



Y.

Yate Collieries and Limoworks Co., Re, W. N. (1883) 171 . 913, 944

Yates V. Cyclists' Touring Club (1908), 24 T. L. R. 581 . . . 406

Yates, Haywood & Co., /?e (1912) (unreported) . , .1196,1228

Yelland's Case (1852), 5 Do G. & Sm. 395 ; affirmed (1852), 21 L. J.

(CH.) 852 ; 16 Jur. 509 1249

, Re English Joint Stock Bank (1867), L. R. 4 Eq. 350 1368

Yenidje Tobacco Co., Re, [1916] 2 Ch. 426; 86 L. J. (cH.) 1; 115

L. T. 530 ; 00 Sol. Jo. 707 ; 32 T. L. R. 709, C. A. . . 914, 918

Yeoland Consols, iJe (1888), 58 L. T. 108 969

Ltd. (No. 2), iJe (1888), 58 L. T. 922 ; 1 Meg. 39 1244, 1265

• , Re, Mauley's Case. See Mauley's Case, Re Yeoland

Consols.
Yglesias, Ex parte, Re General South American Co. See General

South American Co., Re, Ex parte Yglesias.
Yniscedvryn Iron Co., Re (1871), 19 W. R. 194 . . . . 1457

Yolland, Husson, and Birkett, Ltd., Re, Leicester v. Yolland, Husson

and Birkett, Ltd., [1908] 1 Ch. 152 ; 77 L. J. (CH.) 43 ; 97 L. T.

824 ; 14 Mans. 346, C. A 627, 629, 630

Yongo V. Toynbee, [1910] 1 K. B. 215; 79 L. J. (k. b.) 208; 102

L. T. 57 ; 26 T. L, R. 211, C. A. , , 435, 473, 899, 1127, 1463



Table of Cases ccxlvii

PAGE

York and North Midland Rail. Co. v. Hudson (1853), IC Beav. 485 ;

22 L. J. (CH.) 529 ; 1 VV. R. 178 408

York Glass Co., Re (1889), 60 L. T. 744 ; 1 Meg. 206 ; 37 W. R. 471 741
York Tramways Co. v. Willows (1882), 8 Q. B. D. 685; 51 L. J.

(Q. B.) 257 ; 46 L. T. 296 ; 30 W. R. 624, C. A. 310, 397, 429, 430,

432, 530
Yorkshire Fibre Co., Re (1870), L. R. 9 Eq. 650 ; 18 W. R. 541 . 1133

Yorkshire Insurance Co. v. Metropolitan Amalgamated Estates. See

Metropolitan Amalgamated Estates, Re.
Youde's Bill Posting Co. (1902), 18 T. L. R. 731, C. A. . . 417,419

Young V. Brownlee & Co., [1911] S. C. 677 ; 48 Sc. L. R. 462 . 98, 485

t>. Ladies' Imperial Club, [1920] W. N. 121, C. A. . . 428,460

V. Naval, Military and Civil Service Co-operative Society of

South Africa, [1905] 1 K. B. 687 ; 74 L. J. (k. b.) 302 ;
92 L. T. 458 ; 53 W. R. 447 ; 21 T. L. R. 293 ; 12 Mans.

212 159,400,404,410,411,430,436

-— — ■ — V. Payne (David) & Co., Ltd., Re Payne (David) & Co., Ltd.
See Payne (David) & Co., Ltd., Re, Young v. Payno
(David) & Co., Ltd.
■ — V. South African and Australian Exploration and Develop-
ment Syndicate, [1896] 2 Ch. 268 ; 65 L. J. (ch.) 638 ; 74 L. T.

527 ; 44 W. R. 509 457, 458, 467, 470

Youngs' Paraffin Light and Mineral Oil Co. (1894), 21 Rettie, 384 . 801

Ystalyfera Gas Co., Re, VV. N. (1887) 30 324

Ystradfodwg Local Board, Ex parte. Re Thomas. See Thomas, Re,

Ex parte Ystradfodwg Local Board.
Yuill V. Greymouth Point Elizabeth Rail and Coal Co., Ltd., Re Grey-
mouth Point Elizabeth Rail, and Coal Co., Ltd. See Grey-
mouth Point Elizabeth Rail, and Coal Co., Ltd., Re, Yuill v.
Greymouth Point Elizabeth Rail, and Coal Co., Ltd.



z.

ZiMAN V. Komata Reef Gold Mining Co., [1915] 2 K. B, 163 ; 84 L. J.

(K. B.) 1162; 113 L. T. 17; 31 T. L. R. 274, C. A. . . .222

Zoedonc Co., Re (1865), 53 L. J. (ch.) 465 ; 49 L. T. 654 ; 32 W. R.

312 1424, 1457

— ■ ■ - ' Re, Ex parte Higgins (1889), 60 L. T. 383 ; 1 Meg. 158 303

Zoutpansberg Prospecting Co., Ex j)arte. Re Johannesburg Hotel Co.
See Johannesburg Hotel Co., Re, Ex parte Zoutpansberg Pro-
specting Co.

Zuccani u. Nacupai Gold Mining Co. (1889), 61 L. T. 176; 1 Meg. 230 1443

Zucco, Re, Ex parte Cooper. See Cooper, Ex parte, Re Zucco.

Zulueta's Claim, Re London, Hamburg and Continental Exchange

Bank(1870),L.R. 5Ch. 444; 39L. J. (CK.)598; 18W.R.778 97,210



COMPANY LAW AND
PRECEDENTS



CHAPTER'!.

Introductory.

The Companies (Consolidation) Act, 1908, consolidated into one Act
the provisions contained in the Companies Acts. 1862 to 1908 — and
consequently practically the whole of the Statute law relating to
limited companies was contained in it — the mass of case law which
had grown up round the earlier Acts, was, however, practically left
untouched, and very little attempt was made to incorporate it
into the Act.

The Consolidation Act {a) repeals all the Acts cited as " the
Companies Acts, 1862 to 1908 " (6) and also the Companies Seals
Act, 1864 ; sections 25, 26, and 3i of the Stannaries Act, 1869 ; the
Joint Stock Companies Arrangement Act, 1870 ; section 56 of the
Conveyancing (Scotland) Act, 1874 ; section 10 of the Supreme
Court of Judicature Act, 1875, so far as it relates to the winding-up
of companies ; subsection (1) of section 28 of the Supreme Court of
Judicature (Ireland) Act, 1877, so far as it relates to the winding-up
of companies ; sections 9, 10, 13 (2), and 31 of the Stannaries Act,
1887 ; section 3 of the Trustees Savings Banks Act, 1887 ; sections
1, 2, and 3 of the Preferential Payments in Bankruptcy Act, 1888,
so far as they relate to companies ; section 18 of the Revenue Act,
1889 ; section 4 of the Preferential Payments in Bankruptcy
(Ireland) Act, 1889, so far as it relates to companies ; the Directors
Liability Act, 1890 ; the Preferential Payments in Bankruptcy
Amendment Act, 1897 ; and subsection 4 of section 6 of the Limited
Partnerships Act, 1907. The Companies (Consolidation) Act, 1C08,
has been amended by the Companies Act, 1913, the Companies

(a) Companies (Consolidation) (Colonial Registers), 1880, 1890
Act, 1908, s. 286. (Memorandum of Association), 1890

(b) I.e. The Companies Acts, (Winding-up), 1893 (Winding-up),
1862, 1867, 1877, 1879, 1880, 1883 1898, 1900, 1907, and 1908.

S.C.L. 1



2 Introductory

(Foreign Interests) Act, 1917, and the Companies (Particulars as to
Directors) Act, 1917. These Acts may be cited together as the
Companies Acts, 1908 to 1917 {bh). Minor amendments to the
Consolidation Act have also been made by the Assurance Companies
Act, 1909; the Companies (Converted Societies) Act, 1910; the
Perjury Act, 1911 ; the National Insurance Act, 1911 ; the Forgery
Act, 1913; the Bankruptcy and Deeds of Arrangement Act, 1913;
the Government War Obligations Act, 1914, and the Trading with
the Enemy Amendment Act, 1918, The ConsoUdation Act leaves
on foot the powers of a company to alter its memorandum of
association under section 3 of the Mortgage Debentures Act, 1865 (c),
and does not repeal or affect the Life Assurance Companies Act, 1870
to 1872 {d), or section 3 of the Trade Union Act, 1871 (e), except
that references in them to the Companies Act, 1862, or the Com-
panies Act, 1862 and 1867, are to be read as references to the Com-
panies (Consolidation) Act, 1908.

With regard to the repealed Acts and provisions the repeal does
not affect

(a) The incorporation of any company registered under any
enactment repealed ; nor

(&) Table B. in the schedule annexed to the Joint Stock Com-
panies Act, 1856, or any part thereof so far as the same
applies to any company existing at the commencement of
the Act ; nor

(c) Table A. in the first schedule annexed to the Companies Act,

1862, or any part thereof, either as originally contained in
that schedule or as altered in pursuance of Section 71 of that
Act, so far as the same applies to any company existing at
the commencement of the Act.

(d) The continuance in force of section 47 of an Act to regulate

Joint Stock Banks in England (7 & 8 Vict. c. 113) and the
part of section 12 of the Joint Stock Banking Companies
Act, 1857, which is set out in the second part of the Sixth
Schedule to the Act (/).
These last two provisions were kept in force by section 205 of the
Companies Act, 1862, and are as follows : —

"Every company of more than six persons established on the
sixth day of May, one thousand eight hundred and forty-four, for
the purpose of carrying on the trade or business of bankers within
the distance of sixty-five miles from London, and not within the

(bb) Companies (Particulars as to and re-enacted (with material alt«ra-
Directors) Act, 1917, s. 4. tions) by the Assui-ance Companies

(c) Companies (Consolidation) Act, 1909.

Act, 1908, s. 292. (e) Companies (Consolidation)

(d) Ibid., s. 293. These Acts Act, 1908, s. 294.
have, however, now been repealed (/) Ibid., s. 286(1).



Repeal of Previous Acts 3

provisions of tlie Act passed in the session of the seventli and eiglith
years of Queen Victoria, chapter one hundred and thirteen, intituled
' An Act to regulate Joint Stock Banks in England,' shall have the
same powers and privileges of suing and being sued in the name of
any one of the public officers of such co-partnership as the nominal
plaintifi, petitioner, or defendant on behalf of such co-partnership ;
and all judgments, decrees, and orders made and obtained in any
such suit may be enforced in like manner as is provided with respect
to such companies carrying on the said trade or business at any place
in England exceeding the distance of sixty-five miles from London
under the provisions of the Country Bankers Act, 1826, provided
that such first-mentioned company shall make out and deliver from
time to time to the Commissioners of Inland Revenue the several
accounts or returns required by the last-mentioned Act, and all the
provisions of the last-recited Act as to such accounts or returns shall
be taken to apply to the accounts or returns so made out and delivered
by such first-mentioned companies as if they had been originally
included in the provisions of the last-recited Act (g)."

Notwithstanding anything contained in any Act passed in the
session holden in the seventh and eighth years of Queen Victoria,
chapter one hundred and thirteen, and intituled " An Act to
Regulate Joint Stock Banks in England," or in any other Act, it
shall be lawful for any number of persons not exceeding ten, to carry
on in partnership the business of banking, in the same manner and
upon the same conditions in all respects as any company of not more
than six persons could before the passing of the Joint Stock Banking
Companies Act, 1857, have carried on such business (h).

The mention of these particular matters in section 286 of the
Companies (Consolidation) Act, 1908, does not as the section ex-
pressly states prejudice the general application of section 38 of the
Interpretation Act, 1889, with regard to the effect of repeals (i).

The Act also provides that —

Every conveyance, mortgage, or other deed, made before the
commencement of the Act in pursuance of any enactment thereby
repealed, is to be of the same force as if the Act had not passed, and
for the purposes of that deed the repealed enactment is to be deemed
to remain in full force (l), and that where any enactment repealed
by the Act is mentioned or referred to in any document that docu-
ment is to be read as if the corresponding provision (if any) of the



(g) 7 & 8 Vict. c. 113, B. 47. Act, 1908, s. 280 (2). This section

(h) Joint Stock Banking Com- preserves existing rights and lia-

panies Act, 1857, s. 12 (the part bilities.

which is not repealed). (l) Companies (Consolidation)

(i) Companies (Consolidation) Act, 1908, s. 288.



4 Introductory

Act were therein mentioned or referred to and substituted for the
repealed enactment {m).

With regard to the application of the Act to existing companies (n)
it applies in the same manner in the case of a limited company other
than a company limited by guarantee as if the company had been
formed and registered under the Act as a company limited by shares ;
in the case of a company limited by guarantee, as if the company had
been formed and registered under the Act as a company limited by
guarantee ; and in the case of a company other than a limited com-
pany, as if the company had been formed and registered under the
Act as an unlimited company ; but any reference express or implied,
to the date of registration must be construed as a reference to the
date at which the company was registered under the Joint Stock
Companies Acts, or under the Companies Act, 1862, as the case may
be (o).

The Act applies to every company registered but not formed under
the Joint Stock Companies Acts, or the Companies Act, 1862, in the
same manner as it applies to companies registered but not formed
under the Act (p) ; but any reference, expressed or implied, to the
date of registration must be construed as a reference to the date at
which the company was registered under the Joint Stock Companies
Acts or the Companies Act, 1862, as the case may be (q) ; it applies
to every unlimited company registered, in pursuance of the Com-
panies Act, 1879, as a limited company, in the same manner as it
applies to an unlimited company registered in pursuance of the Act
as a limited company ; but any reference, expressed or implied, to the
date of registration must be construed as a reference to the date at
which the company was registered as a limited company under the
Companies Act, 1879 (r).

A company registered under the Joint Stock Companies Acts may

{m) Companies (Consolidation) Act passed in the eighth year of the

Act, 1908, s. 291. reign of Her Majesty Queen Vic-

(n) By the definition section of toria, chapter one hundred and ten,

the Act (s. 285), the expression intituled An Act for the Registra-

" existing company " means a com- tion, Incorporation, and Regulation

pany formed and registered under of Joint Stock Companies,

tlie Joint Stock Companies Acts or (o) Companies (Consolidation)

under the Companies Act, 1862, Act, 1908, s. 245. It will be seen

and the expression " Joint Stock that companies registered under the

Companies Acts " means the Joint Joint Stock Companies Acts can

StockCompaniesAct, 1856; the Joint now (as they could under the Act

Stock Companies Acts, 1856, 1857 ; of 1862) register under the Consoli-

the Joint Stock Banking Com- ation Act. A company registered

panics Act, 1857 ; and the Act to under the Act of 1862 cannot regis -

enable Joint Stock Banking Com- ter under tlais Act.

panics to be formed on the principle (p) See post, pp. 29 et scq.,as to this,

of hmited liability, or any one or (q) Companies (Consolidation)

more of those Acts, as the case may Act, 1908, s. 246.

reqxiire ; but does not include the ('') Ibid., s. 247



Pkohibition of Large Partnerships 5

cause its shares to be transferred in manner hitherto in use, or in
such other manner as the company may direct (s).

No company, association, or partnership (i) consisting of more
than ten persons may be formed, for the purpose of carrying on the
business of banking {u), unless it is registered as a company under
the Act, or is formed in pursuance of some other Act of Parliament, or
of Letters Patent ; and no company, association, or partnership
consisting of more than twenty persons may be formed, for the pur-
pose of carrying on any other business that has for its object the
acquisition of gain by the company, association, or partnership, or by
the individual members thereof, unless it is registered as a company
under the Act or is formed in pursuance of some other Act of Parlia-
ment or of Letters Patent, or is a company engaged in working
mines within the Stannaries and subject to the jurisdiction of the
court exercising the Stannaries jurisdiction (x). This section in
substance reproduces section 4 of the Act of 1862. An old common
law partnership will not be within the prohibition of the section
even if it has changed some, or probably all, its members after the
Acts came into force (y).

The word " business " in the section is wider than the word
" trade," and will consequently include farming (z) ; but the fact



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