Llynvi Iron Company Act 1847
| Jurisdiction | UK Non-devolved |
| Citation | 1847 c. ii |
| Year | 1847 |
ANNO DECIMO
VICTORLE REGIME.
C#/?.
ii.
An Act for regulating Proceedings by or against
" The Llynvi Iron Company," and for granting
certain Powers thereto. [30th March 1847.]
w
HERE AS a Number of Persons some Time since formed
themselves into a Company, by the Name of" The Llynvi
Iron Company," for carrying into effect the Purchase or
taking on Lease and the working of opened or unopened Mines
yielding Iron, Ironstone, Spelter, or other Metals, Coal, Culm, or
other Minerals or mineral Produce, and the smelting, Manufacture,
and Sale
thereof:
And whereas Difficulties have arisen and may
hereafter arise, in legal Proceedings by or against the said Company,
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 Powers should be
granted to the said Company ; but the same cannot be effected with-
out the Aid and Authority of Parliament: May it therefore please
Your Majesty that it may be enacted; and be it enacted by the
" -- -- c ~
[Local.] Queen's
10 10° VICTORIA CapM
Queen's most Excellent Majesty, by and with the Advice and Con-
sent of the Lords Spiritual and Temporal, and Commons, in this
present Parliament assembled, and by the Authority of the same,
In all Ac- That in all Actions, Suits, and other legal Proceedings, other than
tions,
&c Proceedings of a criminal Nature, and in all Proceedings in Lunacy,
Company Bankruptcy^ or Insolvency, whether by way of or under or arising
the Name of to be hereafter instituted or prosecuted by or on behalf of the said
theSecretary Company, either alone or jointly with any other necessary Parties
or any Di-
rector.
out of any Petition, Fiat, or, in Scotland, Sequestration, or otherwise,
it shall be sufficient to state and to proceed or act in the Name of
the Secretary or One of the Directors for the Time being of the
Company, and in all Actions, Suits, and other legal Proceedings to
be hereafter instituted or prosecuted against the Company, 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 Company, or in the event 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 may, if he think fit, join any Shareholders of the
Company, or Persons who shall have been Shareholders of the Com-
pany, together with such nominal Party, as Defendants in Equity, for
the Purpose of Discovery, or in case of Fraud.
II.
And be it enacted, That for the Recovery of any Monies that
are or shall be due or payable from any Shareholder of the Company,
or from the Executors, Administrators, or Assigns of such Share-
Company
may sue for
Monies, &c.
Shareholders holder, for or in respect of any Instalment upon any Share or Shares
in the Name in the Capital Stock of the Company, or in respect of any Subscrip-
of the Secre-
tary or any
Director.
tion, Contract, or Engagement entered into by such Shareholder
with the Company, or the Directors or Trustees
thereof,
it shall be
sufficient, in any Action or other legal Proceeding to be brought,
instituted, or prosecuted for the Recovery of such Monies, or for
Damages for the Nonpayment
thereof,
to proceed, act, and sue in the
Name of the Secretary or any One of the Directors for the Time
being of the Company, as the nominal Plaintiff or Agent representing
the Company, Directors, or Trustees in such Action or other legal
Proceeding, and it shall not in any Case be necessary to sue or
prosecute such Action or other legal Proceeding in the Name of
the Directors, Trustees, or original Contractors or Covenantees : Pro-
vided nevertheless, that nothing herein contained shall be deemed
or construed to exempt the Plaintiff in any such last-mentioned
Action from making Profert of any Deed or Contract of which it
would have been necessary to make Profert if the Action had been
brought in the Name of the original Contractors or Covenantees, or
any of them.
#•
III,
And be it enacted, That the Death, Resignation, or Removal
of any such nominal Party shall not abate or prejudice any such
or prejudice ^ct*on> Suit, or other Proceeding against or by or on behalf of the
any Action, Company, but the same may be continued, prosecuted, and carried
&c.
on in the Name of any other Secretary or Director of the Company,
Death of
Party suing
not to abate
or
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