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

Usage license:: Get license information via the feedback formular.

338 SECRETARIAL PRACTICE Companies incorporated under a private Act of the Legislature of the Province, must deposit annually a list of shareholders on or before the 1st Februarv in each year. Amending Act, No. 5 of 1925 contains small amendments to the Act of 1924 and enacts that a company shall possess as incidental and ancillary to the powers set out in the letters patent, a number of “general powers’ amongst which are power to carry on a business which may conveniently be carried on in connection with its present business or which may enhance the company’s property and rights; to acquire the whole or a part of the business of any person or company carrying on business which the company itself is authorised to carry on; to enter into partnership'or any arrangement for the union of interests, sharing of profits, etc.; to lend money to customers or others having dealings with the company. All these powers may be specifically withheld by the letters patent of the company or by supplementary letters patent. Power is also given by the Act for deeds to be executed on behalf of the company by an attorney. Amending Act, No. 6 of 1925 gives powers to licensed cor- porations to apply to the Lieutenant-Governor-in-Council for a variation of their license. Amending Act No. 5 of 1926 enacts that directors of companies must be shareholders and not be in arrears with their calls. Persons, however, who hold shares in trust as executors or trustees for an infant or cestut gue trust may be directors in virtue of such holding. A director absent from the Dominion, if authorised by the py-laws of the corporation, may by an instrument in writing, verified by affidavit, appoint a shareholder with sufficient quali- fication to act for him in his absence. The authority must not extend for a period longer than one year when it must be renewed and verified as previously. The Amending Acts of 1928, Nos. 5 and 6. contain minor amend- ments relative to Fees. Nova Scotia. Company legislation in Nova Scotia was revised and consolidated in the Nova Scotia Companies Act, No. 174 of 1923. The fol- lowing amending Acts have been passed :—No. 70 of 1925, No. 53 of 1926 and further small amending Acts of 1927, 1928 and 1929. The principal Act follows closely the English Consolidation Act of 1908, with but few exceptions. It contains, however, no provisions for winding-up or for the registration of foreign companies which are dealt with in separate Acts. The following provisions may be noted :— S. 8. Any three or more persons may form a company except a banking, loan, trust or insurance company. 3. 83. Commission on shares may not exceed ten per cent.

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