DOMINION LEGISLATION—CANADA 835

S. 197. Empowers the Lieutenant-Governor in Council to
revoke and cancel the incorporation of a com-
pany and declare the company to be dissolved.

S. 204. Specifies two methods of winding up:—(a) where
a company passes a special resolution that it be
wound up voluntarily, and (b) where the Court
makes an order that the company be wound up
subject to the supervision of the Court.

It should be noted that the Act does not apply to companies
limited by guarantee, which are still governed by the Companies
Act, 1924 (R.S. c. 38). S. 71 of the 1929 Act, however, provides
for the conversion of a guarantee company into an ordinary
company.
Manitoba.
The principal Acts are the Companies Act, No. 35 of 1913,
the Insurance Companies Act, No. 98 of 1913, the Mining Com-
panies Act, No. 129 of 1913, the Winding-up of Companies Act,
No. 205 of 1913, and the Loan and Trust Corporations Act,
No. 41 of 1924. The only Amending Acts are to No. 98 of 1913
and they are Nos. 21 to 24 of 1914, No. 12 of 1917, No. 35 of
1924, Nos. 5 and 6 of 1925, No. 5 of 1926 and Nos. 5 and 6 of
1925, No. 5 of 1926 and Nos. 5 and 6 of 1928.

The following provisions of the principal Companies Act, 1913,
are noteworthy: —

S. 3. Incorporation is obtained by application for Letters
Patent to the Lieutenant-Governor by not less
than five persons for any authorised purpose
except those of a railway, insurance. or loan
and trust company.

company may not commence business until 10
oer cent. of the capital has been subscribed and
to per cent. of the amount subscribed has been
paid up.

«¢ number of directors shall not be less than three
nor more than nine.

» directors may make by-laws relating to the
management of the company, such by-laws
to be subject to confirmation at the next annual
meeting.

dividend may not be declared out of capital or
when the company is insolvent.

directors are liable to all employees of the company
for wages due to the latter up to one year.

The directors may make by-laws to increase or
decrease the capital or to subdivide the shares,
out no such by-law is valid until sanctioned by
a two-thirds majority of shareholders at a
special meeting and confirmed by supplemen-
rarv Letters Patent