Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXIII. Statuory companies

Collection:: Economics Books

206 SECRETARIAL PRACTICE Companies As long ago as 1845 the Companies Clauses Consolidation Clauses Act, Act (8 & 9 Vict. c. 16) was passed, the object of which is well 1845. expressed in its preamble (repealed by the Statute Law Revision Act, 1891): ‘Whereas it is expedient to comprise in one General Act sundry provisions relating to the constitu- tion and management of Joint Stock Companies, usually introduced into Acts of Parliament authorising the execution of undertakings of a public nature by such companies, and that as well for the purpose of avoiding the necessity of repeat- ing such provisions in each of the several Acts relating to such undertakings as for securing greater uniformity in the provisions themselves.’ The full title of the Act is, ‘An Act for consolidating in one Act certain Provisions usually inserted in Acts with respect to the Constitution of Companies incorporated for carrying on Undertakings of a Public Nature.” It has been added to in subsequent years, the principal addition being the Com- panies Clauses Act, 1863 (26 & 27 Vict. c. 118), but no sub- stantial amendment has taken place in the original great piece of legislation relating to statutory companies. The Act of 1845 and Part III of the Act of 1863 apply to all statutory companies except so far as modified by the special Act. The remainder of the Act of 1863 only applies in so far as incor- porated by the special Act. (See also the Companies Clauses Act 1869, and the Com- panies Clauses Consolidation Acts, of 1888 and 1889.) The advantages of these Acts, which are always incorpor- ated in special Acts, occasionally with slight alterations, additions or omissions, are obvious. They secure practical uniformity in the internal management of statutory companies. The enormous differences in matters of detailed management, which constantly appear when the articles of association of companies incorporated under the Companies Acts are compared, are thus almost entirely eliminated. One important result of this uniformity is the diminution of litigation. Applications for special Acts, whether in the case of new companies, or in the case of existing companies seeking extended powers, involve many formalities. Besides the preliminary advertisements in the London Gazette and local newspapers, the deposit of the Bill in Parliament, the appear- ance by counsel with witnesses before Committees of both Houses of Parliament, to meet and deal with the opposition of local authorities and other more or less interested persons or bodies, there are numerous other matters to be dealt with. In the case of applications by existing companies as well as

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