European Life Insurance and Annuity Company Act 1844
| Jurisdiction | UK Non-devolved |
| Citation | 1844 c. xlviii |
ANN0
SEPTIMO
&
OCTAVO
VICTORIA3
REGINX.
Cap.
xlviii.
An
Act
for
regulating legal Proceedings
by
or
against
“
The
European
Life
Insurance and
Annuity
Company,”
and
for
granting certain
Powers
thereto.
C4th
Jzdy
1844.1
HERE
AS
an Association or Partnership
was
formed several
Years ago under the Name of “The
Europenn
Life
Insurance and Annuity Company,” by divers Persons,
as
Proprietors or Shareholders therein, who subscribed and raised among
themselves considerable Sums of Money for the Purpose of carrying
on the Business
of
making or effecting Insurances on Lives and Sur-
vivorships, and other Insurances connected with Life, granting and
selling Annuities either for Lives or otherwise, and on Survivorship,
purchasing Annuities either for Lives or otherwise, granting Endow-
ments for Children and other Persons, receiving Investments
of
Money
for
Accumulation, purchasing absolute reversionary Interests in either
Real Estates within
Great
Britain
or the Parliamentary Stocks or
Funds
of
the United Kingdom, purchasing Life Insurance Policies,
and advancing Money by “ay of Loan on Security
of
Policies
of
Insurance effected with
as
well
as
repurchasing Annuities granted by
the said Company: And whereas the Business
of
the said Company
from
the Commencement thereof to the present Time has been
and
is
[Local.
J
20
K
still
1786
7"
&
8"
VICTORIE,
Cap.
xlviii.
still carried on at their House or Office in
Chathant
Place
near
Black-
friars
Bridge
in the City of
London,
to the great Benefit of all
Persons connected therewith, and considerable Increase of Her Ma-
jesty's Revenue: And whereas the Affairs and Concerns of the
said
Company have hitherto been and are now carried on under the Pro-
visions contained in the
Deed
of Settlement
of
the said Company,
and a certain Deed of Supplement thereto, and the Rules aiid Kegu-
lations from Time to Time made in pursuance
of
the Provisions
contained therein rcspectively, such Deed of Settlement being an
Indenture dated the Tenth Day of
July
One thousand eight hundred
and twenty, and the said Deed of Supplement being an Indenture
dated the First Day of
Februury
One thousand eight hundred and
twenty-one, whereby and in pursuance of which said Two several
Indentures and Rules and Regulations aforesaid Thirteen of the
Shareholders in the said Company are appointed Directors for
managing the Affairs thereof', and Seven of the said Shareholders
are appointed Trustees for holding the Investments of the Funds aiid
Property of the said Company, but subject to the Provisions, Itulcs,
and Regulations aforesaid
:
And whereas Difficulties have arisen and
may
hereafter arise in legal Proceedings by or against the said Com-
pany, since by Law all the Members for the Time being of the said
Company must be named in such Proceedings: And whereas it is
expedient that the said Company should
be
rendered capable
of
suing and being sued in the Name of some One Individual
as
a
nominal Party to such legal Proceedings, and that further I'owers
should be granted to the said Company; but the same cannot
be
effected without the Authority of Parliament
:
May
it therefore please
Your Majesty that it may be enacted; and
be
it enacted by the
Queen's most Excellent Majesty, by and with the Advicc anti Con-
sent of the Lords Spiritual and Temporal, and
Commons,
in this
Company
present Parliament assembled, and by the A4uthority of the same,
'nay
sue and
That in all Actions, Suits, and other legal Proceedings, other than
be
sued
in
Proceedings of
a
Criminal Nature, and in all Proceedings in Lunac).,
the Name
of
thesecr+
Bankruptcy, or Insolvency, whether by way
of
or under or arising
taryorofany
out of any Petition, Fiat, or (in
Scotlrnd)
Sequestration, or otherwise,
Director-
to be hereafter instituted or prosecuted by or
011
behalf of the said
Company, either alone or jointly with any other necessary Parties, it
shall be sufficient to state and to proceed or act in thc Name of the
Secretary or One of the Directors for the Time being of the Com-
pany,
as
the nominal Plaintiff or Agent representing the Company in
such Proceedings, and that in a11 Actions, Suits,
and
other legal
Proceedings to
be
hereafter instituted or prosccutcd against the Com-
pany, either alone or jointly with any other necessary Parties, it shall
be sufficient to state the Name of the Secretary or some One
of
the
Directors for the Time being of the Conipany, or in the ewnt
of
there
being no Secretary or Director of the Company, then to state the
Name of some One of the Shareholders
as
the nominal Defendant
representing the Company in such Proceedings
:
Provided always,
that any Party suing the Company inay, if he think fit, join any
Shareholders df the Company, or Persons who shall have been Share-
holders of the Company, together with such iioniinal Party, as
l)efcndants in Equity, for the Purpose of Discovery, or in
case
of
Fraud.
11.
And
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