out of, or connected with, the motion aforesaid, as the Court shall have awarded, then it shall be lawful for the Court, upon further motion, of which duc notice shall also be given as aforesaid, and upon being satisfied, by like evidence as aforesaid, of the default of the directors, to order that the applicant aforesaid shall be at liberty to issue execution against the individual directors, either jointly or severally, and personally, for the amount so due, and all costs awarded thereon by the Court; and such last mentioned execution shall be in the same form, and of the same effect, as an execution upon a judgment recovered against the directors, jointly or severally, in their private and individual capacity, and may be executed accordingly. 72. No such last mentioned execution shall issue for any greater sum than the amount of whatever call the directors might or should have made, or might and should have recovered as aforesaid, as the case may be; and the said directors shall thereafter be entitled to call up and recover the amount, which they, or any of them, shall in manner aforesaid have paid, or been obliged to pay. 73. In case the officer of the law aforesaid, charged with the execution of any such first or second mentioned writ of execution as aforesaid, shall have levied and made a part, but not the whole, of the sum directed to be levied by such writ, then the hereinbefore contained provisions shall, mutatis mutandis, apply to the recovery of the residue or balance remaining duc upon such writ. 74. Nothing hercin contained shall be deemed or taken to prevent any creditor of the company from proceeding according to law, to have the estate of such company placed under sequestration as insolvent, or to prevent or debar any shareholder, being a creditor of the company, from adopting any proceeding at law against the company, in like manner as any person, not being a shareholder, might have adopted. 75. In case the estate of the company shall be sequestrated as insolvent, and the assets and effects thereof shall be insufficient to liquidate the debts and expenses of such estate, then the trustees of the estate shall be authorized to recover from the shareholders respectively, as if debts owing to the estate, 30 much of the residue of their respective shares, then unpaid, as shall be required for the payment of just debts, due or payable by, and lawful expenses chargeable against, the said estate. 76. The directors, for the time being, shall receive, from and out of the net profits of the company, such sum and sums of money, by way of remuneration for their trouble as directors, as the shareholders shall, at the annual general meetings thereof, determine, by a majority of votes, calcu lated as aforesaid. 77. If at any time it shall appear to the auditors and directors, for the time being, from a careful inspection of the books and affairs of the company, that a loss by the working of the company has been sustained, amounting to one-half of the paid-up capital, the directors shall, and they are hereby required, upon the report of such auditors, forthwith to call a special general meeting of the shareholders, and shall then and there submit to the shareholders a full statement of the accounts, circumstances, affairs, and prospects, of the company, and also submit, for their determination, the expediency of at once dissolving the company, and the shareholders shall thereupon proceed to determine the propriety of adopting such course, and the majority of the votes of the shareholders, to be computed in the same manner as is provided in this Ordinance, in respect to the election of directors, shall be conclusive thereon. 78. The company shall, subject to any special provisions of this Ordinance to the contrary, continue in force for and during the term and period of not less than twenty-one years, to be computed from the day of the promulgation of this Ordinance in the Government Gazette; Provided, however, that at the annual general meeting, to be holden on the third Thursday in the month of June, 1874, it shall be lawful for a majority of not less than three-fourths of the votes of the shareholders, who shall vote thereat, to be computed as in the 10th section of this Ordinance is declared, and the shareholders, having had special notice of such intention to extend the duration of the company for such further period, not then exceeding fourteen additional years, and the resolution of such meeting to that effect shall be effectually binding on the whole of the shareholders. 79. It shall also be lawful for the shareholders, by the like majority of votes, at the annual general meeting of the year on which such last mentioned extended period would expire, in like manner to extend the duration of the company for another term of years, not then exceeding fourteen years, and so on, from time to time, as long as the shareholders, for the time being, shall think fit. 80. If at any special general meeting, duly convened, the shareholders voting thereat shall, by a majority of not less than three-fourths of the votes, resolve that the company ought to be, and be then, dissolved, then, and in such case, the company shall forthwith be dissolved accordingly. 81. Provided always, that notwithstanding any dissolution of the company, either by effluxion of time, or by virtue of any resolution in this Ordinance provided for, the company shall still be considered to subsist for the purpose of winding up its affairs, and discharging its liabilities in due course of law. 82. This Ordinance shall commence and take effect from and after its promulgation in the Government Gazette. God save the Queen! Given at Pietermaritzburg, in the District of Natal, this Tenth day of September, 1853. By Command of His Honour the Licutenant Governor, No. 8, 1854.-(Signed) BENJ. C. C. PINE. Ordinance to promote the establishment of Volunteer Corps for the defence of the District (1) WHEREAS it is expedient to promote the formation and es- Preamble. tablishment of volunteer corps for the protection and defence of the District, and for the maintenance of order: Be it therefore enacted, by the Lieutenant Governor of Natal, with the advice and consent of the Legislative Council thereof, as follows: 1. It shall be lawful for any number of persons, residing in Volunteer corps may any parts of the District, with the sanction of the Lieutenant be formed. Governor, to form themselves into volunteer corps, for military training and exercise. 2. It shall be lawful for every such corps to make rules and bye-laws, regulating the duties of its members, the enforcing of discipline, the nature of its arms and equipments, the number and rank of its officers and members, and its general place of rendezvous. Every corps may make rules and bye-laws. 3. It shall be lawful for the Lieutenant Governor, if he Bye-laws, if approved, shall approve of such rules and bye-laws, to sanction the to be sanctioned by same by a proclamation, under his hand, and such rules and proclamation. bye-laws shall thereupon have the force of law, in the same manner as if the same were inserted in this Ordinance. 4. The members of every corps shall have the power to Election of officers. elect their own officers, subject to the approval of the Lieu tenant Governor, who shall, if he see fit, issue commissions, under his hand, to the persons so elected. 5. Every such corps shall be entitled to the benefit of all Fines and forfeitures. fines and forfeitures levied under or by virtue of such rules and bye-laws as aforesaid. 6. No member of any such corps shall be compelled to serve in any militia, or other military force, which may be established in this District. 7. It shall be lawful for the Lieutenant Governor, subject to the conditions hereinafter expressed, to cause pay to be issued to every man belonging to any such corps, at a rate not exceeding six shillings per day, for every day on which he shall be called out for muster, or actual service. Exemption of corps from militia duty. Pay. Period for which pay issued in each year. 8. Provided, that no such pay shall be issued to any man for more than twenty days in each year, unless he shall be called out for actual service, and also unless such corps, and every member thereof, shall be bound by its rules and byelaws to serve in any part of the country, at least thirty miles from the general place of rendezvous, whenever called out by Exceptions. the Lieutenant Governor, or by his order, to suppress insurrection, repel invasion, or to support the authority of the civil power, whenever it appears likely in any case to be resisted; and every member failing so to do, when duly required, shall be liable to a fine, not exceeding ten pounds, to be recovered summarily in the Court of the Resident Magistrate. (1). Repealed by Ordinance No. 11, 1855. Fines for non-attendance when called out, and how recoverable. Returns to be furnished half-yearly. Corps, when ipso facto disbanded. Commencement of 9. Returns shall be transmitted to the Lieutenant Governor, through the Colonial Secretary, half-yearly, by the officer commanding every volunteer corps, or the adjutant thereof, of the number of men and horses, if any, belonging to such corps. 10. Whenever any volunteer corps shall be reduced below twenty men, rank and file, for a continuous period of six months, it shall become, ipso facto, disbanded. 11. This Ordinance shall commence and take effect from and after the publication thereof in the Government Gazette. God save the Queen! Given at Pietermaritzburg, in the District of Natal, this By Command of His Honour the Lieutenant Governor, (Signed) |