DOMINION LEGISLATION—CANADA 845

No transfer of shares unless made by sale under execution
or under an order of the court of competent jurisdiction shall
be valid until entry thereof is duly made in the register of
transfers.

Chapter 223, Part II applies to all companies incorporated under
Royal Charter except Railway, Insurance or Trust Companies
or companies for which special provisions of law exist.
The company shall not commence business or incur any
liability before 10 per cent. of its authorised capital has been
subscribed and paid for. The provisions of this Part of the
Act are almost identical with Part I.

Chapter 225. The Winding-up Act enacts that any Joint Stock
company may be wound up voluntarily whenever the
directors deem it expedient that the company shall be
dissolved, but this power is dependent on the sense of a
general meeting when the resolution must be carried by the
vote of at least two-thirds in value of the shares represented
by the shareholders present.

Chapter 226. Extra-Provincial Companies Act. This Act in-
cludes all commercial corporations and Joint Stock companies
not incorporated by or in virtue of an Act of the Legislature
nf the Province or of the Parliament of Canada, of the
Legislature of the late Province of Lower Canada, or that
of the late Province of Canada, except Loan and Investment
Societies, Insurance companies, Trust- companies, corpora-
tions and companies incorporated under or in virtue of an
Act of a Legislature of another Province of Canada in which
corporations and companies incorporated under and in virtue of
the laws of the Province of Quebec are authorised to do
ousiness without being obliged to take out a licence therefor.

Chapters 228 and 229, the Securities Sale Act and the Mortmain
Act, contain provisions relating to the purchase and sale of
securities by a company and provisions dealing with the
acquisition of land.

The remaining Acts deal with special classes of companies.
Saskatchewan.
The law relating to companies in the Province of Saskatchewan
is contained in the following statutes: —
Companies Act, No. 28 of 1929 (which repeals all previous
Companies Acts).
Companies Winding-up Act, No. 82 of 1920 as amended by
No. 11 of 1924, No. 20 of 1927 and No. 33 of 1928.
Guarantee Companies Securities Act, No. 80 of 1920.
Loan Companies Act, No. 78 of 1920.
Public Utilities Companies Act, No. 29 of 1920 (which repeals
all previous Public Utilities Companies Acts).
Trust Companies Act, No. 77 of 1920, as amended tv Nu. 34
of ra21-22. No. 19 of 1uz7, and No. 31 of Ir