Gt. Brit. Laws, statutes, etc. Corpora..

tion

Law.

THE

NEW JOINT STOCK COMPANY
COMPANY LAW, ‡

[Of 1856, 1857, and 1858,]

WITH ALL THE STATUTES, AND INSTRUCTIONS

HOW TO FORM A COMPANY; AND HEREIN OF THE LIABILITIES
OF PERSONS ENGAGED IN SO DOING.

Favell Forth
CHARLES WORDSWORTH, Esq.,

OF THE INNER TEMPLE;

ONE OF HER MAJESTY'S COUNSEL.

"One of the most remarkable circumstances or features of our age is, the energy with which
the principle of combination,"or of action by joint forces, by associated numbers, is manifesting
itself. It may be said, without exaggeration, that everything is now done by societies.”—
CHANNING.

LONDON:

SHAW AND SONS, LAW PUBLISHERS, FETTER LANE.

LONDON: PRINTED BY SHAW AND SONS, FETTER LANE.

JUN 26 1908

INTRODUCTION.

first book on the Law of Joint

It is now twenty-two years since my Stock Companies was published. At that time there was no work on the subject: nothing beyond a chapter in Mr. Collyer's valuable work on Partnership. During this long period I have had to deal with it in successive editions, in order to keep pace with its astonishing growth-a growth that exhibits a vast number of judicial decisions, and a great variety of statutes. As far as regards the statutes alone, reference may be made to the Act for the Registration, Incorporation, and Regulation of Joint Stock Companies, passed in 1844; the Railway, Lands, and Companies Clauses Consolidation Acts, 1845; the Gas, Water, Market, Docks, and Cemeteries Clauses Consolidation Acts, in 1847; the Limited Liability Act of 1855; the Joint Stock Companies Act, 1856; the Joint Stock Companies Act, 1857; the Joint Stock Banking Companies Act, 1857; the Act for the Punishment of Frauds by Trustees, Bankers, &c. 1857; the Joint Stock Companies Winding-up Amendment Act, 1857; the Act of 1857, to Amend the Joint Stock Companies Act, 1856; the Joint Stock Companies Amendment Act, 1858; and the Act of the same year, to enable Joint Stock Banking Companies to be formed on the principle of Limited Liability.

It was mentioned in former publications that this branch of law had so greatly increased as to make it expedient to divide the subject into, 1st-Companies requiring express authority of Parliament, and 2nd-Companies not requiring such express authority; and that the distinction thus made would be at once understood by stating that a Railway, or Water, or Gas Company must obtain what is called a "Special Act," incorporating therein the Clauses Consolidation Acts of 1845 or 1847, before it could

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