The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

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Monograph

Identifikator:: 875232663

URN:: urn:nbn:de:zbw-retromon-2698

Document type:: Monograph

Title:: The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

Place of publication:: with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index$gTenth edition, revised and enlarged

Publisher:: Shaw and Sons

Year of publication:: 1881

Scope:: 1 Online-Ressource (XII, 303 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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230 APPENDIX OF CASES. was accordingly done, and a winding-np order made by the county court judge at Sheffield, and an official liquidator appointed. Upon a motion to settle the list of contri butories, it was held that persons who like the shareholders in question were shareholders before the registration under the Act of 1862, could not be made liable as contributories under the winding-up order. The present appeal was brought by the official liquidator against that decision. The shareholders in question had fully paid up, and one of them, Mr. Fountain, had parted with all his shares except one, before the society became limited. Druce, for the official liquidator, contended that though the society was registered as limited for the purpose of winding-up, yet as it was established under the former Act as unlimited, the liability of those who were then members had not ceased. He referred to In re the Plumstead Water Company, 2 De G. F. & J. 20; Garnet v. Moseley Gold Mining Company, 13 W. R. 412; 34 L. J. Q. B. 118. Elderton, for the respondents, was not called on. The Lord Chancellor said that he could not accede to the application for making an order for contribution as between the members. He must take the case as he found it for the purpose of determining the liability in question. The society was for the purpose of winding-up a limited company, and as such, the members in question were not liable to contribution, for they had paid up their shares. The society was registered nnder the Industrial Societies Acts, 1862, in which was incorporated the Companies Act of 1862, and in the section in that Act defining “ a con tributory,” that term was described as meaning “every person liable to contribute to the assets of a company under this Act.” If these words were applied to the Industrial Societies Act, we could only arrive at the same conclusion, namely, that a member was liable as between himself and the other members, according to the qualifications mentioned in the- Companies Act, 1862. Then it was said that the definition of a contributory was qualified by the following section,, which provided that “ the registration under that part of the Act of any company should not affect or prejudice the liability of such company to have enforced against it, or its rights to enforce any debt or obligation incurred on any contract entered into by, to, with, or on behalf of such

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