Reversionary Interest Society Act 1845
| Jurisdiction | UK Non-devolved |
| Citation | 1845 c. cxlvi |
ANTNO
OCTAVO
&
NON0
CTORIE
REGINB.
Cap.
cxlvi.
An
Act
for regulating legal Proceedings
by
and
agaiust
cc
The
Pteversionary Interest Society,”
and
for granting certain
Powers
to
the
said
Society.
[21st
JiiZy
lS45.l
HEREAS
a
Number
of‘
Persons, by
a
Deed
of
Settle-
ment bearing Date the Thirty-first Day
of
Miy
One
thousand eight hundred and twenty-three, agreed to
form themselves into
a
Society under the Name
of
“The Rever-
sionary Interest Society,” the Capital of which should not exceed the
Sum of Five hundred thousand Pounds, in Five thousand Shares
of
One hundred Pounds each, and that the Object and Business
of
the
Society should be to purchase Reversionary Interests of every
1)escri”ption
in
Real and Personal Property (except Advowsons
anti
next Presentations),
and
also to purchase Life and other partial Inte-
rests the Reversions expectant on which might have been previously
purchased by the Society, and also to purchase Life Policies of Insu-
rance
:
And whereas the said Sum
of
Five hundred thousand Pounds
has been duly subscribed, and the Amount thereof
has
been paid up
and
invested, after Payment of Expences in and
is
now
represented
111
various Reversionary Interests, Life Policies
of
Insurance, and other
[
Locctl.]
38
0
Property
3458
C(p.
cxlvi.
Property now belonging to the Society: And whereas Difficulties
have arisen and may hereafter arise in
legal
Proceedings by or against
the Society, since by
Law
all the Members for the Time being
of'
the Society must be named in such Proceedings
:
And whereas it
is
expedient that the Society 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
also
of
increasing its Capital, and that
further Powers should be given
to
the said Society; 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
Advice and Consent
of
the Lords Spiritual and Temporal, and Com-
mons, in this present Parliament assembled, and by the Authority
of'
The Society
the same, That in all Actions, Suits,
and
other legal Proceedings,
'hstees
other than Proceedings of a criminal Nature, and
,in
all
Proceedings
may
sue
and
be
sued
in Lunacy, Bankruptcy, or Insolvency, whether by
way
of
or
under
the
Name
of
or arising out
of
any Petition, Fiat, or in
Scotlnnd
Sequestration,
01'
thesecretary
otherwise, and in all other Proceedings under any general or limited
Or
Jurisdictions whatsoever, other than Proceedings of
a
criminal Nature,
rector
or
proprietor
of
to be hereafter instituted or prosecuted by or on behalf
of
the Society,
the
Society.
or by or on behalf of any Persons being Trustees for the Society,
either alone or jointly with any other necessary Parties, and notwith-
standing that the Causes
of
such
Actions, Suits, and Proceedings
respectively shall have already arisen, 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 Society, or in the event
of
there
being no Secretary or Director of the Society, then in the Name of
One of the Proprietors for the Time being of the Society,
as
the
'
nominal Plaintiff or Agent representing the Society, or the Trustees
for the Society, in such Proceedings
;
and that in all Actions, Suits,
and other Proceedings
as
aforesaid to be hereafter instituted or pro-
secuted against the Society the Trustees for the Society, either alone
or
jointly with any other necessary Parties, and notwithstanding that
the Causes
of
such Actions, Suits, and Proceedings respectively shall
have already arisen, it shall be sufficient to state the Name of and
to
proceed or act against the Secretary or some One
of
the Directors
for
the Time being of the Society, or in the event
of
there being no
Secretary or Director of the Society, then to state the Name
of
anti
to proceed
or
act against some One of the Proprietors
as
the nominal
Defendant representing the Society, or the Trustees for the Society, in
such Proceedings
:
Provided always, that any Party suing the Society
may, if he think fit, join any Proprietors
of
the Society or Trustees for
thc Society, or Persons who shall have been Proprietors
or
Trustees
of'
or for the Society, together with such nominal Party,
as
Defendants
in Equity, for the Purpose
of
Discovery, or in case
of
Fraud.
Di.
Death,
&c.
Of
Officer
abate
suit.
11.
And be it enacted, That the Death, Resignation,
or
Removal
of
any such nominal Party shall not abate or prejudice any such
Action, Suit, or other Proceeding against or by or on behalf of the
Society, or the Trustees for the Society, but the same may be con-
tinued, prosecuted, and carried on in the Name
of
or
against any
other Secretary or Director
of'
the Society, or
iI.-
the event of there
being
suing
not
to
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