No. XVI.
An Act to amend the Act 2 4 Vict. No. 21 intituled "An Act to limit the Liability of Mining Partnerships" \28th April, 1871.]
E it e n a c t e d b y t h e Q u e e n ' s M o s t E x c e l l e n t Majesty b y a n d w i t h t h e advice a n d consent of t h e Legislative Council a n d Legislative A s s e m b l y of N e w S o u t h W a l e s i n P a r l i a m e n t assembled a n d b y t h e a u t h o r i t y of t h e same as follows :-- 1. T h e A c t t w e n t y - f o u r t h Victoria n u m b e r t w e n t y - o n e herein after designated t h e principal A c t shall i n addition to t h e Companies described in section one thereof apply a n d e x t e n d t o Companies to b e formed for t h e purpose of w o r k i n g coal cannel coal b i t u m i n o u s shales or shales from w h i c h p e t r o l e u m or n a p h t h a c a n b e e x t r a c t e d or of q u a r r y i n g g r a n i t e m a r b l e or limestones for b u i l d i n g or o t h e r purposes or of o b t a i n i n g a n y precious stones or g e m s b y a n y m o d e or m e t h o d m e n t i o n e d in t h e said section. 2. A n d w h e r e a s doubts h a v e arisen as t o t h e t r u e c o n s t r u c t i o n of t h e second e l e v e n t h f o u r t e e n t h a n d t w e n t y - f o u r t h sections of t h e p r i n c i p a l A c t a n d it h a s b e e n deemed advisable t o r e p e a l t h e same B e it t h e r e f o r e e n a c t e d t h a t t h e second e l e v e n t h f o u r t e e n t h a n d t w e n t y f o u r t h sections of t h e p r i n c i p a l A c t be a n d t h e same a r e h e r e b y repealed. 3 . I n t h e e v e n t of a C o m p a n y already formed or t o b e formed u n d e r t h e p r i n c i p a l A c t for t h e p u r p o s e s t h e r e i n or h e r e i n m e n t i o n e d b e i n g w o u n d u p every s h a r e h o l d e r shall b e liable to c o n t r i b u t e t o t h e assets of t h e C o m p a n y t o a n a m o u n t sufficient for p a y m e n t of t h e debts a n d liabilities of t h e C o m p a n y a n d t h e cost c h a r g e s a n d t h e expenses of t h e w i n d i n g u p a n d for t h e p a y m e n t of s u c h s u m s as m a y be r e q u i r e d for t h e a d j u s t m e n t of t h e r i g h t s of t h e c o n t r i b u t o r i e s a m o n g s t t h e m s e l v e s w i t h t h e qualification following ( t h a t is to say) n o c o n t r i b u t i o n shall b e r e q u i r e d from a n y s h a r e h o l d e r e x c e e d i n g t h e a m o u n t (if any) u n p a i d o n t h e shares i n respect of w h i c h h e is liable as a s h a r e h o l d e r . 4. I n a n y action or suit b r o u g h t i n t h e S u p r e m e or i n a n y D i s t r i c t C o u r t b y a n y C o m p a n y formed or t o be formed u n d e r t h e principal A c t for t h e purposes t h e r e i n or h e r e i n m e n t i o n e d a g a i n s t a n y of its shareholders t o recover a n y call or other m o n e y s d u e from s u c h share holders i n his c h a r a c t e r of shareholder such action shall b e b r o u g h t i n t h e n a m e of t h e official m a n a g e r a n d it shall n o t be necessary to set forth t h e special m a t t e r b u t it shall b e sufficient to allege t h a t t h e d e f e n d a n t is a shareholder i n t h e C o m p a n y a n d is i n d e b t e d t o t h e C o m p a n y i n respect of a call m a d e or o t h e r m o n e y s due w h e r e b y a n action or suit h a t h accrued t o t h e C o m p a n y Provided always t h a t s u c h call or o t h e r m o n e y s shall be deemed t o b e a d e b t d u e from such shareholder to t h e C o m p a n y a n d p a y m e n t thereof m a y be enforced b y a n d in t h e n a m e of t h e M a n a g e r before a n y t w o J u s t i c e s of t h e P e a c e . 5. E v e r y C o m p a n y already formed or to b e formed u n d e r t h e p r i n c i p a l A c t for t h e purposes t h e r e i n or h e r e i n m e n t i o n e d shall h a v e a registered office situate i n this Colony t o w h i c h all c o m m u n i c a t i o n s a n d notices m a y be addressed a n d service of a n y notice or of a n y writ declaration

B

declaration plaint J u d g e ' s order or o t h e r proceeding or process w h a t  soever in a n y action suit or proceeding a t such office shall be deemed to be service u p o n t h e C o m p a n y or u p o n t h e registered M a n a g e r thereof a n d a n y C o m p a n y w h i c h shall carry on business w i t h o u t h a v i n g such a n office shall be liable to a p e n a l t y not exceeding five p o u n d s for every day d u r i n g which business shall be so carried on. 6. This A c t shall be construed w i t h a n d form p a r t of t h e principal A c t .