Shipowners' Towing Company Act 1847

Publication Date:January 01, 1847
 
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Shipowners Towing Company Act 1847

(10 & 11 Vict.) c. xxxi

An Act to enable the Shipowners Towing Company to sue and be sued.

[8th June 1847]

ANNO DECIMO VICTORLE REGIN.E **************************************************** Cap. xxxi. An Act to enable the Shipowners Towing Company to sue and be sued. [8th June 1847.] w HEREAS under and by virtue of an Indenture or Deed of Settlement bearing Date the Eighteenth Day of April One thousand eight hundred and thirty-seven a Company, for the Purpose of towing Ships and other Vessels by means of Steam Boats or Tugs, and incidental Purposes therein mentioned, was established, to be carried on by or under the Name or Style of " The Symington Patent Paddle Towing Company," or under such other Name or Style as the Directors of the said Company for the Time being should at any Time and from Time to Time think proper, the principal Establishment or Office of which said Company is in the City of London : And whereas by virtue of the said Provision in the said Deed of Settlement in that Behalf contained the Name of the said Company was subsequently changed to that of " The Shipowners Towing Company," by which Name the said Company has ever since been and is now known and conducted: And whereas it is expedient that the said Company should be capable of suing and being sued in the Name of some one Individual as a nominal Party to legal Proceedings: And whereas the aforesaid Objects cannot be effected except by the Aid and Authority of Parliament: May it [LocalJ] 4X therefore 358 10 VICTORIA, Cap.xxxi. 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 Commons, in this present Parliament assembled, and by the Authority of Company the same, That in all Actions, Suits, and other legal Proceedings, may sue and other than Proceedings of a criminal Nature, and in all Proceedings in be sued in Lunacy, Insolvency, or Bankruptcy, whether by way of Petition, Fiat, the Secre- or *n Scotland Sequestration, or otherwise, to be hereafter instituted or tary or any director. prosecuted by or on behalf of the said Company, either alone or jointly with any other Parties, it shall be sufficient to state and to proceed in the Name of the Secretary or One of the Directors for the Time being of the Company, as the nominal Plaintiff or Party representing the Company in such Proceedings; and that in all Actions, Suits, and other legal Proceedings to be hereafter instituted or prosecuted against the Company, either alone or jointly with any other Parties, it shall be sufficient to state the Name of the Secretary or some One of the Directors, or, where there shall be no Secretary or Director, then the Name of some One of the Shareholders for the Time being of the Company, as the nominal Defendant representing the Company in such Proceedings: Provided always, that any Party suing the Com- pan\ i.Xl Persons who shall have been Shareholders of the Company, 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 tho Death, Resignation, or R Oeath, &c. nf Officer suing not to abate Suit. nay, if he think fit, join any Shareholders of the Company, or or ceasing to be a Shareholder of the Company, of any sucli nominal Party, shall not abate or prejudice any such Action, Suit, or other Proceeding against or by or on behalf of the Company, but the same may be continued, prosecuted, and carried on as if no such Event had happened. Action by or against Shareholders, III. And be it enacted, That no Action, Suit, or other Proceeding by or against the Company shall be in anywise affected by reason of the Plaintiff or Defendant therein being a Shareholder or former Share holder of the Company, but any such Shareholder, either alone or jointly with any other Person, as against the Company, or the Com pany as against any such Shareholder, either alone or jointly with any other Person, shall have the same Action and Remedy in respect of any Cause of Action or Suit whatever which such Shareholder or Company might have had if such Cause of Action or Suit had arisen with a Stranger. Plea in bar of former Suit. IV. And be it enacted, That the Proceedings in any Action or Suit by or against such nominal Party, in which the Merits in respect of the Demand thereby sought to be enforced shall have been tried and determined, may be pleaded in bar of any other Action, Suit, or other Proceedings for the same Demand by or against the Company or any other such nominal Party as aforesaid* Officer suing not incapacitated as a Witness. V. And be it enacted, That the Secretary of the Company shall not by reason of his being such nominal Party in any Action, Suit, or unaer tne Authori+w -'this ty oi other Proceeding instituted or prosecuted ^^^^ ^ Act 9 10 VICTORIA, Cap.xxxi. 359 Act be incapacited from being a Witness in any such Action, Suit, or Proceeding, if in other respects admissible. VI. And be it enacted, That the Bankruptcy or Insolvency of any Bankruptcy, such nominal Party, or of any Shareholder of the Company in his &c- of individual Capacity, shall not be construed to be the Bankruptcy or no!^er SfFinf Insolvency of the Company, nor shall in any way abate or prejudice Suit. any such Action, Suit, or other Proceeding as aforesaid, and, notwithstanding such Bankruptcy or Insolvency, such Action, Suit, or other Proceeding may be continued in the Name of such nominal Party, and the Property and Effects of the Company shall in all respects be liable in the same Manner as if such Bankruptcy or Insolvency had not taken place. VII. And be it enacted, That every Judgment, Decree, or Order Decree or of any Court of Justice in any Proceeding against any such nominal Judgment Party as aforesaid may be lawfully executed against and shall have m*7 be. the like Effect on the Estate, Funds, and Property of the Company, ao-ainst the and, subject to the Restrictions herein-after enacted, upon the Person, Company Estate, Funds, and Property of every Shareholder thereof, as ifand the every individual Shareholder had been by Name a Party to such ^SSf? Proceedings. VIII. And be it enacted, That it shall be lawful for the Plaintiff to Execution cause Execution upon any Judgment, Decree, or Order obtained by against him in any such Action or Suit against any such nominal Party as g|e- aforesaid to be issued against all or any of the Shareholders for the holders. Time being of the Company, and if such Execution shall be ineffectual to obtain Satisfaction of the Sums sought to be recovered thereby, then it shall be lawful for him to cause Execution to be issued against any Person who was a Shareholder of the Company at the Time the Contract, Engagement, or Liability upon or in respect of which such Action or Suit shall have been instituted was entered into or incurred: Provided always, that no such Execution against any Person being or having ceased to be a Shareholder shall be issued without Leave first granted by the Court in which such Judgment, Decree, or Order shall have been obtained, upon Motion in open Court, and after Notice of such Motion given to the Person sought to be charged: Provided also, that no Person, having ceased to be a Shareholder of the Company, shall be liable for the Payment of any Debt for which any such Judgment, Decree, or Order shall have been so obtained for which he would not have been liable as a Partner in case a Suit had been originally brought against him for the same, nor shall this Act be deemed to enable any Party to a Suit to recover from any individual Shareholder of the Company, or any other Person whomsoever, any other or greater Sum than might have been recovered if this Act had not been passed. IX. And be it enacted, That every Person against whom any such Reimburse- Execution shall have been issued shall be reimbursed, out of the ment of indi- Funds or Property of the Company, for all Monies paid, and for all hoE?^" Damages, Costs, and Expences incurred by him by reason of such Execution, 360 10 VICTORIA Cap.xxKi. Execution, or of the Action or Suit in which the same shall have issued, or in default of such Reimbursement, by Contribution from the other Shareholders of the Company. Individuals X. And be it enacted, That, if any Execution be issued against any paying under present or former Shareholder of the Company, and if, within Four-recover0"t0 teen Days next after the levying of such Execution, he be not reim-against the burscd, on Demand, out of the Funds or Property of the Company, Company. all such Monies, Damages...

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