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

STATUTORY COMPANIES 297 new companies, close attention to the Standing Orders of Parliament relating to Private Bills is essential. These matters are generally attended to by Parliamentary Agents, but the secretary of an existing company is required to give notices calling a special meeting (sometimes called a Wharn- cliffe Meeting), when the shareholders consider the Bill deposited, and he will be required to prove by affidavit the due and proper summoning of the meeting and the result of the voting thereat. All applications for special Acts are most carefully scru- tinised in committee. Involving, as they may do, the compulsory acquisition of land, and interference with existing rights of all kinds, they will not be granted without adequate examination and consideration, and without the insertion in the Bills of clauses of all kinds ensuring the due protection of the rights of others and adequate benefit to the public. Besides the Companies Clauses Acts, the Special Act usually incorporates the Lands Clauses Consolidation Acts, and the appropriate general Acts relating to particular under- takings, e.g. the Railways Clauses Acts, the Waterworks Clauses Act, the Gasworks Clauses Acts, etc. Furthermore, the clauses from time to time appearing in the Model Bills will in general be incorporated. Examples of the scope of the Model clauses is seen in the Railway section, dealing with pay- ment of interest out of capital, additional capital, borrowing powers, etc.; in the Tramway section, as to fares, rates and charges; in the Gas section, as to capital and the sale of it by auction or tender, the limitation of profits, etc. The secretary of a statutory company will necessarily be fully acquainted with the provisions of his company’s special Act or Acts, and the incorporated Acts. The matters which are provided for in the Companies Clauses Acts for the most part cover the same ground as the articles of association of a company incorporated under the Companies Acts. They include detailed provisions for the general management of the company. STATUTORY COMPANIES (REDEEMABLE STOCK) ACT, IQIS5. The full title of this Act is ‘An Act to enable certain Statutory Companies to create and issue Preference Shares or Stock and Debentures or Debenture Stock, so as in each case to be redeemable.” It applies to ‘any railway company, canal company, dock company, water company or other company incorporated by special Act, who are for the time being authorised under such an Act to construct, work. Provisions of Companies Dlauses Acts. Redeemable Stock.

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