328 SECRETARIAL PRACTICE
payment of a duty of one shilling in the £ on dividends in the
case of companies carrying. on business in Western Australia
only, and on profits made in Western Australia in the case of
companies carrying on business in Western Australia and else-
where. Insurance companies pay a duty of £1 per £100 of
premiums.
CANADA.
I. THE DoMiINION COMPANIES ACTS.

In Canada companies may be incorporated either under the
Dominion law or under the law of the Prouince in which the
company carries on its business. In some Provinces the law
relating to companies is founded on the Dominion law; in others,
on the law of England, and there are many laws founded partly on
‘he one system and partly on the other.

The insolvency of companies, however, is a matter exclusively
within the jurisdiction of the Dominion Parliament. It is only
ander the Dominion Winding-up Act, 1927, that a creditor can
obtain a winding-up order on the ground of insolvency. Each of
the Provinces has its own provisions for winding-up, but these
relate only to winding-up on grounds other than insolvency.

The principal Companies Act is No. 27 of 1927, and there is one
amending Act of 1930. There are also separate Acts dealing
with special classes of companies, such as Loan Companies and
Trust Companies.

The main features of the principal Act, No. 27 of 1927 as
amended by the Act, 1930, resemble closely the provisions of the
English Act of 1929. There are, however, several points peculiar
to Canada. They are:

5. 5. Incorporation is obtained by application for Letters
Patent to the Secretary of State by not less than
three persons.

Provides for the issue of any or all of the shares of
the capital stock of a company without any
nominal or par value and enacts that every such
share shall be equal to every other such share
subject to the preferences, restrictions or other
conditions attached to any class of shares.
company may, subject to confirmation by
supplementary letters patent, change its name
by a resolution passed by a majority of at least
two-thirds at a special general meeting called
for the purpose.

Provides that a company shall possess as incidental
and ancillary to the powers set out in the
letters patent or supplementary letters patent,
a large number of ‘general powers.” There is,
however, at the end of the section, authority
to withold anv or all if the powers of so desired.