Reform Ciub No 115.] [1880. An Act to amend ‘‘ An Act relating to Banks and Bank- ing,” and to continue for a limited time the charters of certain Banks to which the said Act applies. TIT HERE AS it is expedient further to amend the Act Preamble. V T passed in the thirty -fourth year of Her Majety’s reign, chaptered five, and intituled “ An Act relating to Banks and 34 y., c. 5. Banking," and to continue for a limited time the charters 5 of the Banks to which it applies, subject to the provisions hereinafter made : Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : — 1. This Act shall apply to every Bank to which the Act Application 10 cited in the Preamble applies, and to such Banks and their branches in every part of the Dominion ; and the expression 5 as amended. “ The Bank Act," when used in this Act means the Act cited in the Preamble, as amended by any subsequent Act ; and the expression “ any Bank” or “ the Bank” means a Bank 15 to which the Bank Act applies. 3. Section twenty-six of the Bank Act is hereby section 86 amended by adding the following thereto as a subsection amended, thereof : — (2) No person holding stock in any Bank as executor Non-iiaWiity 20 administrator, guardian or trustee, of or for any person named in the books of the Bank as being so represented by him or as represent- her, shall be personally subject to any liabilities as a stock- ing others: if holder, but the estate and fund in his or her hands shall be the^B^k liable in like manner and to the same extent as the tes- books. 25 tator, intestate, ward or person interested in such trust-funds would be, if living and competent to hold the stock in his or her own name. But if such testator, intestate, ward or But aot person so represented is not so named in the books of the otherwise. Bank, the executor, administrator, guardian or trustee shall 80 be personally liable in respect of such stock, as if he or she held it in his or her own name as owner thereof Section fourteen of the said Act is hereby amended by Section 14 substituting the words “ forty per cent.” for the words “ one- 36 third.” 4. Instead of the form substituted by the Act thirty-sixth New form of Yictoria, chaptered forty-three, for that given in the thirteenth section of the Bank Act as that in which the monthly returns to be made to the Grovernment by any Bank are to 40 be made up, the following form shall be substituted for all 2 such returns to be made upon or after the first day of July in tbe present year 1880; and all the pro- Tisions of the said thirteenth section and of the Bank Act, shall apply accordingly ; — Return of the Liabilities and Assets of the on the day of A.D. 18 Capital authorized i Capital subscribed < Capital paid up ‘ Liabilities. 1. Notes in circulation ^ 2. Dominion Government deposits payable on demand 3. Dominion Government deposits payable after notice or on a fixed day 4. Deposits held as security for the execution of Dominion Gov- ernment contracts and for In- surance Companies 5. Provincial Government deposits payable on demand 6. Provincial Government deposits payable after notice or on a fixed day 7. Other deposits payable on de- mand 8. Other deposits payable after no- tice or on a fixed day 9. Loans from other Banks in Canada secured 10. Loans from other Banks in Canada unsecured 11. Due to other Banks in Canada.... 12. Due to Agendtes of the Bank or to other Banks or Agencies in foreign countries 13. Due to Agencies of the Bank, or to other Banks or Agencies in the United Kingdom 14. Liabilities not included under foregoing heads $ A SSETS. 1. Specie i 2 . Dominion notes 3. Notes of j^ild checks on other Banks...'. 4 . Balances due from other Banks in Canada 8 5. Balances due from Agencies of the Bank or from other Banks or Agencies in foreign countries., 6. Balances due from Agencies of the Bank or from other Banks or Agencies in the United Kingdom Y. Dominion Grovernment deben- tures or stock 8. Provincial, British or Foreign or Colonial public securities other than Canadian 9, Loans to the Grovernment of the Dominion 10. Loans to Provincial Grovernments 11. Loans, discounts or advances for which the stock, bonds or de- bentures of municipal or other Corporations, or Dominion, Provincial, British or Foreign or Colonial public securities other than Canadian, are held as collateral securities 12. Loans, discounts or advances on current account to Municipal Corporations 13. Loans, discounts, or advances on current account, to other cor- porations 14. Loans to other Banks secured on their bills receivable 15. Loans to other Banks unsecured. 16. Other current loans, discounts and advances to the public lY. Notes and bills discounted over- due and not specially secured 18. Overdue debts secured by mort- gage or other deed on real estate, or by deposit of or lien on stock, or by other securities 19. Real estate the property of the Bank (other than the Bank premises) 20. Mortgages on real estate sold by the Bank. 21. Bank premises 22. Other assets not included under the foregoing heads $ Aggregate amount of loans to Directors, and to firms or partnerships in which they or any of them have any in- terest, I Average amount of specie held during the month,^'f Average amount of Dominion Notes held during the month, I Section 42 amended. Section 46 to 50 repealed and new substituted . Interpreta- tion of “goods, &c.“ “ Warehouse receipt.” “ Bill of lading,” “Ship” or ^‘shipment.” I declare that thu above Eetnrn has been prepared under my directions and is correct according to the books of the Bank. Chief Accountant. We declare that the foregoing Keturn is made up from the books of the Bank, and that to the best of our knowledge and- 5 belief it is correct and shews truly and clearly the financial position of the Bank ; and we further declare that the Bank has never at any time during the period to which the said Return relates, held less than forty per cent, of its cash reserves in Dominion notes. 10 {Place.) this day of A. B., President. C. D , Genera] Manager In addition to the returns specified in this section, the Minister of Finance shall also have power to call for special returns from any particular Bank, whenever, in his judgment,* the same are necessary in order to a full and complete know- 15 ledge of its condition. 5. The forty-second section of the Bank Act is hereby amended by striking out the words “ at the suit of the Bank,” in the second line, and inserting instead thereof the words “ in insolvency, or as belonging to any debtor to the Bank.” 20 ©. Sections forty-five, forty-six, forty-seven, forty-eight, forty-nine, and fifty, are repealed and the following section* inserted in their stead respectively, as part of the Bank Act. “ 45. For the purposes of this Act, the words “ goods, wares and merchandize,” when used therein, shall be held 25 to comprise, in addition to the things usually understood thereby, timber, deals, boards, staves, saw Jogs, and other lumber, petroleum, crude oil, and all agricultural produce and other articles of commerce ; and the words “ vfarehouse receipt” when used herein shall be held to mean any 30 receipt given by any person, firm or company for any goods, wares or merchandize in his or their possession as bailee or bailees, and not as of his or their own property, and shall comprise receipts from any person who is the keeper of any harbor, cove, pond, wharf, yard, warehouse, 35 shed, storehouse, tannery, mill or other place in Canada, for goods, wares or merchandize being in the place or iin one or more of the places so kept by him, whether such person" is engaged in other business or not, and shall also comprise specifications of timber. The words “ bill of lading,” when 40 used herein, shall comprise all receipts for goods, wares i or merchandize, accomx^anied by an obligation to transport the same from the place where they were received to soine ^ other place, whether by land or water, or partly by land and partly by water, and by any mode of carriage what- 45 ever : and the words “ ship ” or “ shipment” shall be held to mean the -delivery of any article, for transport as afore- said. 5 “4(?. The bank may acquire and hold any warehouse re- Bank may ceipt or bill of lading, as collateral security for the pay- ware-*^ inent of any debt or obligation incurred in its favor in the house re- course of its banking business ; and the warehouse receipt or 5 bill of lading so acquired shall vest in the bank, from the date as collateral of the acquisition thereof, all the right and title of the previous security, holder or owner thereof, or of the person from whom such goods, wares and merchandize were received or acquired by the bank, if the warehouse receipt or bill of lading is made di- 10 rectly in favour of the bank instead of to the previous holder or owner of such goods, wares and merchandize And ififthepre- the previous holder of such warehouse receipt or bill of holder lading be the agent of the owner of the goods, wares and agent of the ’ merchandize mentioned therein, within the meaning of the owner. 15 fifty-ninth chapter of the Consolidated Statutes of the late Province of Canada, (which, as respects such meaning, shall apply to all the Provinces of Canada), then the bank shall be vested with all the right and title of the owner thereof, subject to his right to have 20 the same re-transferred to him, if the debt as security for which they are held by the bank, be paid. And on Exchange of shipment of any goods, wares or merchandize for which a bank holds a warehouse receipt, it may surrender such receipt buTof lading, and receive a bill of lading in exchange therefor; or o\\ vice verm. 25 the reception of any goods, wares and merchandize for which it holds a bill of lading, it may surrender such bill of lading, store such goods, wares and merchandize, and take a warehouse receipt therefor ; or ship them or part of them, and take another bill of lading therefor.” 30 “ 47. If any person granting a warehouse receipt or bill of if the person lading is engaged in the calling, as his ostensible business, granting of keeper of a yard, cove, wharf or harbour, or of warehouse- receipt or bill man, miller, saw-miller, maltster, manufacturer of timber, wharfinger, master of a vessel or other th® g^odT. ° 35 carrier by land, or by water, or by both, curer or packer of meat, tanner, dealer in wool, or purchaser of agricultural produce, and is at the same time the owner of the goods, wares and merchandize mentioned in such warehouse receipt or bill of lading, any such warehouse 40 receipt or bill of lading, and the right and title of the bank thereto and to the goods, wares and merchandize mentioned therein, shall be as valid and effectual as if such owner, and the person making such warehouse receipt or bill of lading. were different persons.” “ 2. In the event of the non-payment or non-performance Power of sale 45 at maturity of any debt or obligation secured by a case of warehouse receipt or bill of lading, the bank may of a'dra^es! sell the goods, wares and merchandize mentioned therein, or so much thereof as will suffice to pay such debt with interest and costs, returning the overplus, if any, to the 60 person from whom such warehouse receipt or bill of lading, ^ or the goods, wares and merchandize mentioned therein, as the case may be, were acquired ; but such power of sale shall be subject to the provisions hereinafter niade.”^fe‘|Jggp|j 115—2 6 Lien of Bank “ 48, It aiiy maiinfacturer of woollen or cotton g’oods, or whi^h^ar\ides lumber, any miller, maltster, tanner, or packer or curer pledged to it of meat, grants a wareliouse receipt for any wool, cotton, or been^ cottoii yarn, timber or saw logs, grain or pulse, hides, hogs, verted. or beef cattle, which may be converted into a different article 5 of commerce while held thereunder, such warehouse receipt shall vest in any bank which shall be or become the lawful holder thereof, all the right and title to such article of commerce, which such bank acquired under such warehouse receipt to the material so converted, described in 10 such warehouse receipt ; and shall continue to hold the same and all such right and title, for the same purposes and upon the same conditions, as those upon which it previously held such material.” give Lien -of Bank “41^,. All advances made on the security of any bill lading or warehouse receipt, shall give and be held to vendor. to the bank making such advances a claim lor the repayment of such advances on the goods, wares or merchandize therein mentioned, or into which they have been converted prior to and by preference over the claim of any unpaid vendor, any law usage or custom to the contrary notwithstanding.” of 15 20 Condition.s of •• No sale without the consent in writing of the owner, w^hoJt*th"e'^ of any timber, boards, deals, staves, saw logs or other lumber, consentofihe «hall be made under this Act until, nor unless, notice of ownei, file time and place of such sale- shall have been given by 25 a registered letter, mailed in the Post Office to the last known address of the pledger thereof, at least thirty day’s prior to the sale thereof ; and no goods, wares or merchandize, other than timber, boards, deals, staves, saw logs or other lumber, shall be sold by the bank under this Act without the consent 30 of the owner, until, or unless, notice of the time and place of sale has been given by a registered letter, mailed in the Post Office to the last known address of the pledger thereof, at least ten days prior to the sale thereof ; and every such sale without consent of the owner, shall be made by public 35 auction after a notice thereof by advertisement, stating the time and place thereof, in at least two newspapers published in or nearest to the place where the sale is to be made, and if such sale be in the Province of Quebec, then at least one of such newspapers shall be a newspaper published in the 40 English language, and one other such newspaper shall be a newspaper imblished in the French language. Sale must be advertised. Section 51 repealed. New Section. Lien of Bank on stock and dividends of stockhold for debts or liabilities to it. 7 . Section fifty-one of the Bank Act is hereby repealed and the following substituted for it : — “ 51 . The Bank shall not make loans or grant discounts on 45 the security of its o^n stock, but shall have a privileged lien for any debt or liability for any debt to the bank, on the shares and unpaid dividends of the debtor or party so liable, and may decline to allow any transfer of the shares of such debtor or party until such debt is paid, and if such debt is 50 not paid when due the Bank may sell such shares, after notice has been given to the holder thereof, of the intention of the Bank to sell the same, by mailing such notice in the 1 post ollice to the last known address of snch holder, at least thirty days prior to such sale ; and upon such sale being made, the President, Vice-President, Manager or Cashier shall execute a transfer of such shares to the purchaser 5 thereof in the usual transfer book of the Bank, which transfer shall vest in such purchaser all the rights in or to such shares which were possessed by the holder thereof, with the same obligation of warranty on his part as if he were the vendor thereof, but without any warranty from the Bank or by the 10 officer of the Bank executing such transfer “And nothing in this Act contained shall prevent the Bank from acquiring and holding as collateral security for any advance by or debt to the Bank, or lor any credit or liability incurred by the Bank to or on behalf of any person (and 15 either at the time of such advance b}^, or the contracting of such debt to the Bank, or the opening of such credit, or the incurring of such liability, by the Bank), Pominion, Provin- cial, British, or Foreign public securities, or the stock, bonds or debentures of Municipal or other Corporations except 20 Banks; and such bonds, debentures, or securities, may, in case of default to pay the debt for securing which they were so acquired and held, be dealt with, sold and conveyed, in like manner and subject to I he same restrictions as are herein pro- vided in respect of stock of the Bank on which it has acquired 26a lien under this Act; This provision may, however, be departed Irom or varied by any agreement between the Bank and the owner of such stock, bonds, debentures or securities, made at the time at which such debt was incurred, or if the time of payment of such debt has been extended, then by 30 an agreement made at the time of such extension.” S. Sections three, four, five and six of the Act passed in the forty second year of Her Majesty’s reign, chaptered forty-five, and intituled “ An Act to amend the Act relating lo Banks and Banking under the Acts amending the same," and 36 chapter fifty-five of the Consolidated Statutes of the late Province of Canada, intituled “ An Act respecting Banks and freedom of Banking," are hereby repealed, except as to rights acquired, offences committed or liabilities incurred before the passing of this Act. 40 9 . The charters or Acts of incorporation of the several Banks mentioned in the Schedule to this Act, to all w^hich the Bank Act applies, are hereby continued and shall remain in force, subject to the provisions of the Bank Act and of this Act, until the first day of July, in the 46 year of our Lord one thousand eight hundred and ninety- one, except in so far as they or any of them may be or become forfeited or void under the terms thereof or of the Bank Act or any other Act passed or to be passed in that behalf, by non-irerformance of the conditions of such 50 charters respectively, insolvency or otherwise. lO. After the time when the charters of the said Banks respectively would have expired if they had not been con- tinued by this Act, — * What col- lateral securi- ties the Bank may hold for advances, &c. Sale in case of default. Provision may be varied byagreement. ' Part of 42 V., c. 45(number- ing of shares) repealed. And chap. 55 of Con. Stat. Canada. Exception. Charters of certain Banks continued to 1 July, 1891. Except in so far as avoided by insolvency or otherwise. After 1 July, 1881. 8 Notes to be first charge on assets. No note under $5 or other than a multi- ple of f5. Payments in Dominion Notes. Renewal of proxies ‘ As to Bank of B.N.A. (1.) The payment of the notes issued', by any such Bank and intended for circulation, then outstanding, shall be the first charge upon the assets of the Bank in case of its insolyency : (2.) No bank note for a sum less than five dollars, or for any sum not being a multiple of five dollars, shall be issued or re-issued by any such Bank, and all notes for a less sum than five dollars or not being such multiple as afore- said, heretofore issued shall be called in and cancelled as soon as may be practicable. 5 10 (3.) Any such Bank when making any ]:>ayment, shall, on the request of the irerson to whom the payment is to be made, pay the same, or such part thereof not exceeding fifty dollars as such person may request, in Dominion Notes for one or for two dollars each, at Ihe option of the receiver. 15 (4 ) No appointment of a proxy to vote at any meeting of the shareholders of the Bank shall be valid for that purpose, unless made or renewed in writing within the three years next preceding the time of such meeting. 20 (5 ) The provisions in this section shall, from and after the first day of July, 1881, apply to the Bank of British North America, which by the terms of its present charter is to be subject to the general laws of the Dominion with respects to Banks and Banking. 25 SCHEDULE. BANKS WHOSE CHARTERS ARE CONTINUED BY THIS ACT. 1. The Bank of Montreal . 2. The Quebec Bank. 3. La Banque du Peuple. 4. The Consolidated Bank. 5. Molson's Bank. 6. The Bank of Toronto. The Ontario Bank. 8. The Eastern Townships Bank. 9. La Banque Nationale. 10. La Banque Jacques Cartier. 11. The Merchants’ Bank of Canada. 12. The Union Bank of Lower Canada. 13. The Canadian Bank of Commerce. 14. The Mechanics' Bank. 15. The Dominion Bank. 16 The Merchants’ Bank of Halifax. 11'. The Bank of Nova Scotia 18. The Bank of Yarmouth. 19. The Bank of Liverpool. 20. The Exchange Bank of Canada. 21. The Banque Ville Marie. 22. The Standard Bank of Canada. 9 23. The Bank of Hamilton. 24. The Halifax Banking- Company. 25. The Maritime Bank of the Dominion of Canada. 26. The Federal Bank of Canada. 27. La Banqne d’Hochelaga. 28. The Sladacona Bank. 29. Theimperial Bank of Canada. 30. The Pictou Bank. 31. La Banqne de tit. Hyacinthe. 32. The Bank of Ottawa. 33. The Bank of JMew Brunswick. 34. The Exchange Bank of Yarmouth. 35. The Union Bank of Halifax. 36. The People’s Bank of Halifax. h(OTE. Those piinted in Italics ave said to be in couTse of liquidation. 115-2 2nd S 08 sion, 4th Parliament, 43 Victoria, 1880. BILL. An Act to amend “ An Act relating to Banks and Banking,” and to continue for a limited time the charters of cer- tain Banks to which the said Act ap- plies. Eeceived and road, first time, Monday, 26th April, 1880. Second readin^r, Taesday, 27th April, 1880. {Corrected Copy.) Hon. Sir Leonard Tilley. A COMPILATION OF THE STATUTES PASSED SINCE CONFEDERATION BINKS RELATING TO GOVERNMENT AND OTHER SAYINGS BANKS, PROMISSORY NOTES AND BILLS OF EXCHANGE, AND INTEREST AND USURY IN NEW BRUNSWICK AND NOVA SCOTIA, I TOGETHER WITH EXTRACTS FROM THE CRIMINAL LAW, AND AN ANALYTICAL INDEX; 4 TO WHICH IS ADDED A LIST OF THE STATUTES PASSED SINCE 1867, AFFECTING OR CREATING BANK CHARTERS. By O. P. DAYIDSOIL, Esq., Q. 0. PonlniRl : PRINTED AT THE “GAZETTE” PRINTING HOUSE, bZ,4 4 Entered according to Act of Parliament of Canada, in the year 1876, by T. & E. White, in the Ofi&ce of the Minister of Agriculture. An Act to enable Banks in any part of Canada to use Notes of the Dominion instead of issuing Notes of their own. [Assented to 22nd May, 1868.] H er majesty, by and with the advice and consent of the Preamble. Senate and House of Commons of Canada, enacts as follows : 1 . The Governor in Council may enter into arrangements with all or any of the Chartered Banks in this Dominion for the sur- render, on or before the first day of June, one thousand eight hun- dred and seventy, of their power to issue notes; — and in compen- sation for such surrender, an annual sum not exceeding five per cent upon the amount of its circulation, as established with respect to any Bank in the Province of Quebec or Ontario, by the monthly return upon the thirtieth day of April, one thousand eight hundred and sixty-six, and with resj)ect to any Bank in Hova Scotia or New Brunswick, and to any Bank in the late Province of Canada, incor- porated since the said last mentioned day, — and in such manner as the Governor in Council may deem satisfactory, shall bo payable by the Dominion to each Bank so surrendering its power of issue and redeeming its notes in circulation, until the expiration of its charter, or such other period as Parliament may appoint ; and the Receiver General shall receive any Provincial Debentures or other government securities now held by any such Bank in compliance with the requirements of its charter, in exchange for Notes of the Dominion ; and shall also pay to such Bank one half the estimated cost of its unissued notes. Governor in Council may arrange with Banks for surrender of power to issue notes. Compensation to be paid. Exchange of Govt, securi- ties for Pro- vincial Notes. 2 . In entering into any such arrangement as aforesaid with any Surrender may Y Bank, the Governor in Council may provide either for the imme- i’mmedfatc. diate or the gradual surrender of its power to issue notes, such gradual surrender not extending over a period of more than twelve months ; ^ See 33 Vie., cap. 10 ; 35 Vic., cap. 7, and 38 Vic., cap. 5, regulating the issue of Dominion Notes. By 39 Vic., cap. 4, all these j\cts are extepded to Prince Edward fsland, British Columbia, and Manitoba, ■.J 4 Cap. 46. Ba7iks may use Notes of Dominion. 31 Yict. Exchange of certain Deben- tures for Do- minion Notes. No obligation to hold deben- tures after surrender. Weekly re- turns to the Auditor j and payment of compensation, half yearly. Powers of Governor in Council in making arran- gement with any Bank. Power to ;esu*ne right of issue. Consequence of resumption. months ; but in such a case the exchange of Dominion Notes for . such Debentures and. government securities as aforesaid, held by the Bank under the requirements of its charter, shall be made only in equal proportion to the amount of its notes actually redeemed and withdrawn from circulation, as shown by its monthly returns.^ 3- From the date of any such arrangement with any Bank, it shall no longer be bound to hold any Provincial Debentures or other government securities which it may be now required by law to hold. 4 . Every Bank so surrendering its power to issue notes shall make a weekly return to the Auditor of its notes redeemed and withdrawn from circulation, and of those stiLl outstanding, and the comjiensation hereinbefore authorized shall be paid to it half yearly in proportion to the amount so redeemed and withdrawn, computed on the average of the weekly returns for the half year, until the amount redeemed is equal to nine-tenths of its circulation, on the thirtieth day of April, one thousand eight hundred and sixty-six, when it shall be entitled to compensation on the full amount thereof. 5. The powers of the Governor in Council in making an arrangement with any Bank for the surrender of its power to issue notes, shall extend to any provisions which may be deemed exj)e- dient respecting the redemption of the notes of such Bank, or the right of re-issuing any such notes during the period agreed upon for the gradual redemption thereof, and generally to all provisions which the Governor in Council may deem expedient to the con- venient working of this Act, and not inconsistent with the enact- ments contained in it, subject, nevertheless, to the arrangements already made under the authority of the Act of the late Province of Canada hereinafter mentioned; and any Order in Council for giving effect to such provisions shall have the force of law. 6 . Any Bank which may have surrendered its power to issue notes, may resume such power after giving at least three months notice in writing to the Keceiver General, and publishing such notice during the like period in the Canada Gazette ; but such Bank shall, from the expiration of such notice, cease to receive compen- sation on its notes withdrawn from circulation, and shall pay back to the Keceiver General any sum it has received from him in Dominion notes in exchange for Provincial Debentures or other Government securities, which shall then be redelivered to the Bank, and the Bank shall be bound to hold the amount of Provincial Debentures or other securities required by its charter, before it shall resume the issue of notes. T. 1868. Banks may use Notes of Dominion. Cap. 46. 5 T. No Bank surrendering its power to issue notes shall thereby As to rights be deprived of its claim to any privilege or power which shall he granted to other Banks on the renewal of their charters, in the year one thousand eight hundred and seventy. 8 . And whereas by an Act of the Legislature of th§ late Province Eeoitai. of Canada passed in the session held in the twenty-ninth and thirtieth years of Her Majesty’s Beign, and intituled : “An Act to 29 30 V. c. lO. jtiovide for the issue of Provincial Notes,” the Grovernor of that Province in Council was empowered to authorize the issue of Pro. vincial Notes for the general purposes of the Province, to the amount of five millions of dollars, and to a further amount not exceeding three millions of dollars for purposes relative to the surrender by all or any of the chartered Banks of the Province of their power to issue notes, under provisions similar to those made in this Act, and it was provided that such notes should he of such denominational values and in such form as the Grovernor in Council might direct, and he redeemable in specie on presentation at offices to be estab- lished at Montreal and Toronto, and at that one of the said places at which they were res]3ectively made payable, and should be a legal tender except at the offices aforesaid : And whereas such Pro- vincial Notes to the amount of five millions of dollars were in pur- suance of the said Act issued for the general purposes of the Pro- vince, and a further amount for purposes relative to the surrender by the Bank of Montreal of its j)Ower to issue notes, and for such other purposes provided for by the aforesaid Act as are specified in the agreement with the said Bank approved of by the Governor in Council ; and Provincial Notes to an amount equal in the whole to Certain Pro- eight millions of dollars, were engraved and prepared for issue : yin^iai Notes therefore, the Provincial Notes issued or prepared for issue as afore- that Act to said, to an amount not exceeding in the whole eight millions of ^o^s^re-^*^ dollars, shall be held to be Notes of the Dominion of Canada, and demption, re- having been or being hereafter issued under the Act. above cited or this Act, shall be redeemable in specie on presentation at offices established or to be established at Montreal, Toronto, Halifax and St. John (New Brunswick), and at that one of the said places at which they may be resj)ectively made payable, and being so re- deemed may and might be again re-issued for the general purposes of the Dominion, and shall be (as provided by the Act before cited,) a legal tender except at the offices at which they are respectively made payable ; — and the said eight millions of dollars in such notes Issue of ba- not issued under the provisions of the Act before cited, may be igg°ued°°*^ issued as Dominion Notes for the purposes of this Actj I Provided SI Yict. 6 Proviso : as to notes re- deemable at Halifax. Proviso : for issue of Do- minion Notes instead of Pro vincial Notes redeemed. Offices for redemption of notes. Sums to be held in specie for redemption of Provincial or Dominion Notes : Debentures for any difference between such specie and amount of notes. Power of Receiver Ge- neral. Cap. 46. Banks may use Notes of Dominion. Provided always, that such of the said Notes as are made pay- able at Halifax, shall, so long as the currency of Nova Scotia remains such as it now is, be redeemable in that currency, that is, at the rate of one pound sterling, English, for every five dollars of the face value of such notes : and shall be a legal tender in Nova Scotia only ; And provided also, that instead of re-issuing any such Provincial Notes, the Governor in Council may authorize the issue of Dominion Notes to an amount not exceeding that of the Provincial Notes redeemed, and such Dominion Notes may be of such denomina- tional values and in such form, and signed by such persons and in such manner, by lithograph, printing or otherwise as he may from time to time direct, and such Notes shall be redeemable in specie on presentation at offices to be established at Montreal, Toronto, Halifax and St. John, and at that one of the said places at which they may be respectively made payable ; subject always to the fore- going proviso as to those made payable at Halifax, so long as the currency of Nova Scotia remains unchanged. The Governor may in his discretion establish branches of the Keceiver General’s department in Montreal, Toronto, Halifax and St. John, respectively, for the issue and redemption of Provincial or Deminion Notes, or he may make arrangements with any chartered Bank or Banks, for the issue and redemption thereof, and may for such service allow a commission not exceeding one quarter of one per cent, for every three months, upon the average amount of notes in circulation during that period. 10 . The sum to be held in specie by the Eeceiver General for the redemption of Provincial or Dominion Notes, shall be twenty per cent, upon the amount thereof in circulation, so long as such amount does not exceed five millions of dollars j for any excess over five millions, twenty-five per cent, of such excess shall be so held j and Debentures of the late Province of Canada or of the Dominion of Canada, shall be held by the Eeceiver General, to the full amount by which the spe®ie held as aforesaid fails to cover the whole amount of Provincial or Domonion Notes oustanding at any time; and debentures of the Dominion may bo issued and delivered to the Eeceiver General for this purpose ; such debentures being so held for securing the redemption of the Provincial or Dominion Notes, and the Eeceiver General having full power to dispose of them, either temporarily or absolutely, for raising funds for that purpose, or for procuring the amounts of specie to be held by him under the provisions of this section. 11 . 1868. Banks may use Notes of Dominion. Cap. 46. 7 11 . The Governor in Council shall, from time to time, appoint Commissioners Commissioners, three for the Province of Ontario, and three for the Province of Quebec, two for hTova Scotia and New Brunswick, with of notes issued such remuneration as he shall determine, whose duty it shall be to deLntures**^^*^ examine on the first Wednesday of every month, or on such other held. days as may be from time to time directed by the Governor in Council, into the number of Provincial or Dominion Notes then issued and outstanding at the Branch Departments of the Keceiver General, or the offices of the Banks issuing the same, at Montreal, Toronto, Halifax and St. John, respectively, and also into the amount of specie and debentures then held at the said places res- pectively for the redemption of such notes ; and upon such exami- nation, the said Commissioners for each of the said Provinces Result of ex- respectively, or any two of them, shall return the result of such be returned examination under oath to the Auditor, who shall publish such pu^us^tedr*^ return in the next number of the Canada Gazette ; and such oath shall be in the following form, or in such other form as may from time to time be directed by order in Council, and if wilfully false shall subject the person taking the same to all the pains and penalties of the crime of perjury : “ We, A. B., &c.. Commissioners for (the Province of Quebec or rom of Oath. as the case may he') make oath and say, that on the day “ of A. D., 18 , the Provincial or Dominion notes outstanding “ and in circulation from (Montreal, or as the case may he) amounted “ to dollars, and the Specie and Provincial or Dominion “ debentures then held for the redemption of such notes at (Mont- “ real, or as the case may he) amounted to dollars in specie “ and dollars in debentures.” 12 . The proceeds of the said Provincial or Dominion notes shall Proceeds and form part of the Consolidated Eevenue Fund of Canada, and the expenses lawfully incurred under this Act shall be paid out of the said Fund. 13 . The word “ specie ” in this Act means coin current by law Interpretation of that one of the Provinces in which any Provincial or Dominion note is made payable, at the rates and subject to the provisions of the law in that behalf, or Bullion of equal value according to its weight and fineness ; — and the exj>ression “ Provincial Debentures or Government Securities ” in the first, second, third and sixth seCr tions of this Acf, means and includes any Debentures, which under the charter of the Bank in question may be held by it in compliance with any provision in its charter obliging it to invest a certain por- tion of its capital in such Debentures or Securities. 14 . 8 Punishment for forging notes, or persons making the person ^ preTiously discharo-e all Ms T ’ ™.q«fe^^rl of^ linetheMi^ But thisJ^^rlTYiP the end ol^nioSw Act,^Or as resuects passing of this* made and current at the^^^!p c ^curity of bank share six months, or Ts resDeciA of the expiration of the sal loans, until the pnri suc3 [anajia neV ^&'£^ tk rnrliament of oxiension oiten^^VM dt 4n^ ^''****1 'h,^*tj;te of the capital Xkol ^v UrhsXVtr ®“ „ months aft^h?p?sin?bJthiX^t'^“‘^ within three from *benAZTc"Sis:y^ shares any sacjXare\transferrXr as&rtSd^ n.Qrmc!c«i/-k^v^ ir J ra nZraoS^frr--?^ ®ballXar tT aZ^T'* ®^^® b®ar7^^ manner andA^n?? to number its shares , iall thereby mci^l^t?®f '"®"®n ®"®b banj ' ^further penaltvAfiftf^X*^ r hundred dollars, aa?h neglect cZ«Xf su!^ penX Zb “? whicl^oh as provided A “T/m /Xpr^te?!?®®''®'’®'* ™^^bed the^r'J^yTSob” ®“y^ into aftet^ por A or/ur- ”wf oZany)i?p??^Zn1of ‘be pZ ^ rame Dy any deed or written instrument, shall J —X ^ JK siioiss9g TO ij'nSr^ V” s 0q ireo ‘0OB9^ 0Tn Th ^ joip«A A. ,ta®4 ; j° f ;m« r-w B "Ui . i oato p,uoai imr B 4 ■bos’,! P®- ’ «xtosud om oSsb m ^ , ^Tfi;#Ajia3^'j&jTir.T .,,,^„ _,^ pgqj TO q} oouejfo Jaifjo im Qa_aaj_ _^ . ■ _ T - [y ^ 1. So much of the thirteenth section of chapter eighty-three of Bants in the Eevised Statutes of Nova Scotia, third series, intituled, *“ Of Currency, or of any other act or law, or of the charter of any notes under Bank, in force in Nova Scotia, as prohibits the issue of any Bank f^der| 4 °^*' Note by any Chartered Bank for a less sum than twenty dollars, is hereby repealed ; but no Chartered Bank in Nova Scotia shall issue any Bank Note for a less sum than four dollars Currency of that Province, under the penalty imposed by the said thirteenth section of the said chapter eighty-three, for issuing Notes for a less sum than twenty dollars. BANKS AND BANKING. % ACTS REPEALED. 31 Vic., Cap. 11, intituled “An Act respecting Banks,” repealed by 31 Vic., Cap. 5, Sec. *76. 33 Vic., Cap. 11, intituled “An Act respecting Banks and Bank- ing,” repealed by 34 Vic., Cap. 5, Sec. 76. CAP V. An Act relating to Banks and Banking. ^ [Assented to 14,th April, 1871.] W HEREAS, it is desirable that the provisions relating to the Preambles Incorporation of Banks, and the laws relating to Banking, should be embraced, as far as practicable, in one general Act ; There- fore, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : 1 . The Charters or Acts of Incorporation of the several Banks charters enumerated in the Schedule to this Act (including any amendments continued thereof now in force)‘are continued as to their Incorporation, the puroois'° amount of Capital Stock, the amount of each share of such Stock, and the chief place of business of each respectively, until the first lay of July in the year of our Lord one thousand eight hundred and eight|y-one, subject to the right of any such Bank to increase its Capital Stock in the manner hereinafter provided; and as to Certain pro- other particulars the said charters are continued without being 'visions not to subject to any of the provisions of this Act except those contained ai^er^ i July, in Sections Four, Thirty-nine to Fifty-four, both inclusive, and Sixty ' to * Amended by 35 Vic., Cap 8, (p. 36). 10 34 ViCT. Provision until end of next Session and after- wards. To what hanks the Act applies. Matters to be provided for in special Acts. Branches-and agencies. Increase of capital. How to be allotted. Cap. 5. Banks and Banking. to Sixty-eight, both inclusive, until the first day of July in the pre'sent year of our Lord one thousand eight hundred and seventy- one ; and from and after the day last mentioned, the said charters are continued, subject to the provisions of this Act, until the end of the then next Session of Parliament; and from and after the end of such Session this Act shall form and ho the Charters of the said Banks respectively, until the first day of July, 1881, and the pro- visions thereof shall apply to each of them respectively, and their present charters shall be repealed, — except only as to the matters for ■which the said Charters are above continued until the day last aforesaid. 2. The provisions of this Act shall ajiply to any Bank to be here- after incorporated (which expression in this Act includes any Bank incorporated by any Act passed in the present Session or in any future Session of the Parliament of Canada) whether this Act is specially mentioned in its Act of Incorporation or not, as well as to all Banks whose charters are hereby continued, but not to any other, unless extended to it under the special provisions hereinafter made. The capital stock of any new Bank, the amount of each share, the name of the Bank, and the place where its chief office shall be situate, shall be declared in the Act of Incorporation of any Bank to be hereafter incorporated. GENERAL REGULATIONS. 4* The Bank may oj^en branches or agencies and offices of dis- count and deposit and transact business, at any place or places in the Dominion. 5. The capital stock of the Bank may be increased, from time to time, by the shareholders at any annual general meeting, or any general meeting specially called for that purpose ; and such increase may be agreed on by such proportions at a time as the shareholders shall determine, and shall be decided by the majority of the votes of the shareholders present at such meeting in person or by proxy. G. Any of the original unsubscribed capital stock, or the in- creased stock of a Bank, shall, when the Directors so determine, be allotted to the then shareholders of the Bank pro rata, and at such rate as shall be fixed by the Directors, provided always that no fraction of a share shall be so allotted; and any of such allotted stock as shall not be taken up by the shareholder to whom such allotment has been made, within three months from the time when notice of the allotment has been mailed to his address, may be opened Banks and Banking. Cap. 5. 11 opened for subscription to the public, in such manner and on such terms as the Directors shall prescribe, T. No Bank to be hereafter incorporated, unless it be otherwise conditions provided by its charter, shall issue notes or commence the business previous to of banking, until five hundred thousand dollars of capital have been buTi™esTby^ bond fide subscribed and one hundred thousand dollars have been Banks. bond fide paid up, nor until it shall have obtained from the treasury board a certificate to that effect, which certificate shall be granted by the treasury board when it is jmoved to their satisfaction that such amounts of capital have been bond fide subscribed and paid respectively ; and if at least two hundred thousand dollars of the subscribed capital of such Bank has not been paid up before it shall have commenced business, such further amount as shall be required to complete the said sum shall be called in and paid up within two years thereafter, and it shall not be necessary that more than two hundred thousand dollars of the stock of any Bank, whether incor- porated before or after the passing of this Act, be paid up within any limited period from the date of its incorporation. 8 . The amount of notes intended for cireulation, issued by the Amount of Bank and outstanding at any time, shall never exceed the amount of its unimpaired paid up capital : No such note for a less sum SfundT® than four dollars shall be issued or re-issued by the Bank, and all notes for a less sum heretofore issued shall be called in and can- celled as soon as may be practicable. 9. The Bank shall always receive in payment its own notes at Eederption par at any of its ofSces and whether they be made payable there or • not ; but shall not be bound to redeem them in specie or Dominion notes at any place other than where they are made payable j the place or one of the places at which the notes of the Bank shall be made payable shall always be its chief seat of business. 10 . No dividend or bonus shall ever be made so as to impair the No dividend paid-up capital, and if any dividend or bonus be so made, the Direo paid tors knowingly and wilfully concurring therein, shall be jointly and JLlivjtoV severally liable for the amount thereof, as a debt due bvthem to the ^Bank j|and it any part of the paid uji capital be lost, the Directors part thereof shall, if all the subscribed stock be not paid up, forthwith make calls upon the shareholders to an amount equivalent to such loss j and such loss (and the calls, if any), shall be mentioned in the re- turn then next made by the Bank to the Governmenf)| provided that in any case where the capital has been impaired as aforesaid, all net profits shall be applied to make good such loss. 11 - 12 34 Yict. Dividend limited iinless there be a certain Reserved Fund. List of Stock- holders to be laid before Parliament vearly. Monthly returns to bo made ; and how attested. Form. Cap. 5. Banks and Banking. 11. No division of profits, either Tby way of dividends or bonus, or both combined, or in any other way, exceeding the rate of eight per cent, per annum, shall be paid by the Bank, unless, after paying the same, it shall have a rest or reserved fund equal to at least twenty per cent, of its paid up capital, deducting all bad and doubtful debts before calculating the amount of such rest. 12 . Certified lists of the shareholders, (or of the principal part- ners, if the Bank he en commandite,) with their additions and resi- dences, and the number of shares they respectively hold, shall be laid before Parliament every year, within fifteen days after the opening of the session. 13 . * Monthly returns shall be made by the Bank to the Government in the following form, and shall be made up within the first ten days of each month, and shall exhibit the condition of the Bank on the last juridical day of the month preceding ; and such monthly returns shall be signed by the President, or Vice- President, or the Director (or, if the Bank be en commandite, the principal partner) then acting as President, and by the Manager, Cashier or other principal officer of the Bank at its chief seat of business : Return of the amount of liabilities and assets of the Bank, on the day of , A.D. 18 Capital Authorized, $ Capital Sdbsosiped, Capital Paid up. LIABILITIES. $ cts. 1. Notes in circulation 2. Government deposits payable on demand 3. Other deposits payable on demand 4. Government deposits payable after notice, or on a fixed day . 5. Other deposits payable after notice, or on a fixed day 6. Due to other banks in Canada 7. Due to other banks or agents not in Canada 8. Liabilities not included under the foregoing heads.... ASSETS. * Another form fs substituted by 36 Vic. 43 for the one here given. (See p. 40.) 1871 Banks and Banking, Cap. fi. ASSETS. S Ct:4. 1. Specie 2. Provincial or Dominion Notes 3. Notes of and checpies on other banks 4. Palances due from other banks in Canada 5. Balances due from other banks or agents not in Canada 6. Government debentures or stock 7. Loans to the Governments of the Dominion and of any of the Provinces, respectively 8. Loans, discounts or advances on current account to borporations 9. Notes and bills discounted and current 10. Notes and bills discounted, overdue and not specially secured 1 1 . Overdue debts secured by mortgage or other deed on real estate, or by deposit of or lien on stock, or by other securities 12. Eeal estate, the property of the Bank (other than the Bank premises), and mortgages on real estate sold by the Bank 13. Bank premises 14. Other assets not included under the foregoing heads.. We declare that the foregoing return is made up from the books of the Bank, and that it is correct to the best of our knowledge and belief. (Place) this day of ,18 A. B. — President, &c. C. D. — Cashier, &c. 14 . The Bank shall always hold, as nearly as may be practicable p^rt of one half of its cash reserves in Dominion notes, and the proportion reserves to be of such reserves held in Dominion Notes shall never be less than notes, /^ oiic-t^ ' d - t her^f. 15 . Every Bank to which this Act applies shall be exempt from Exemption the tax now imposed on the average amount of its notes in circu- lation, to which other Banks will continue liable, and from the obligation to hold any portion of its capital in Government deben- tures or debentures of any kind. 16 . 14 Cap. 5. 34 "V ICT. Arrangements for supplying* Dominion notes. Subscription for and trans- fer of stock in the United Kingdom. Payment of shares. Proviso : Part payment on sub- cribing. Transfers of shares ; con- ditions as to shares sold under execu- tion. Banks and Banking. 16 » The Eeceiver General shall make such arrangements as may he necessary for ensuring the delivery of Dominion notes to any Bank, in exchange for an equivalent amount of specie, at the several offices at which Dominion notes will be redeemable, in the cities of Toronto, Montreal, Halifax and St. John, (N.B.,) respectively. INTERNAL REGULATIONS. Shares and Shareholders. IT* Books of subscription may be opened, and shares of the capital stock of the Bank may be made transferable, and the divi- dends accruing thereon may bo made payable, in the United Kingdom of Great Britain and Ireland, in like manner as such shares and dividends are respectively made transferable and payable at the head office of the Bank ; and to that end the Directors may from time to time determine Ihe proportion of the shares which shall be so transferable in the United Kingdom, and make such rules and' regulations, and prescribe such forms, and a2ipoint such agent or agents, as they may deem necessary. 18 * The shares of the capital stock shall be paid in by such in- stalments, and at such times and places as the Directors shall aj)point, and executors, administrators and curators jiaying the instalments upon the shares of d-^'ceased shareholders shall be and are respectively indemnified for paying the same : Provided always, that no share or shares shall be held to be lawfully subscribed for, unless a sum equal to at least ten per centum on the amount sub- scribed for be actually paid at the time or within thirty days after the time of subscribing. 1 1871. Banks and Banking. Cap. 5. 15 assignable or os^sferable : and when any share or shares o£/^he said cajDital stoc]^^hall have been sold under a writ of ex^rotion, the sheriff by whomra^e writ shall have been executed within thirty days after the sal^Js^eave with the cashier, manner, or other officer of the Bank, an attes^!Nd coj>y of the writ wi^h^he certificate Transfer by of such sheriff endorsed thereoS«>certifying to wfinm the sale has ;^ank been made, and thereupon (but nofN^til after all debts or liabilities being first due by the holder or holders of the M^rejt'^ the Bank shall have been discharged as aforesaid), the Pres^^»<^r Yice-President, Man- ager or Cashier of the Bank, shaR/ff^oiite tfe^^transfer of the share or shares so sold to the purcjxl^rj and such tt^nsfer being duly accepted, shall be to all interns and purposes as vah^nd effectual in law as if it had been executed by the holder or hoM^s of the said share or shares, any law or usage to the contrary notwith- standing. "" 20 . A list of all transfers of shares registered each day in the List of books of the Bank, showing the parties to such tranfers mid the b?mld?up number of shares transferred in each case, shall be made up at the daily, and end of each day and kept at the chief office of the Bank for the srarehoiders. inspection of its shareholders. ^1* If the interest in any share or shares in the capital stock Transmission becomes transmitted in consequence of the death or bankruptcy or othw^fse insolvency of any shareholder, or in consequence of the marriage than by of a female shareholder, or by any other lawful means than by a proved, transfer according to the provisions of this Act, such transmission shall be authenticated by a declaration in writing, as hereinafter mentioned, or in such other manner as the Directors of the Bank shall require, and every such declaration shall distinctly state the manner in which, and the party to whom, such shares shall have been transmitted, and shall be by such party made and signed ; and every such declaration shald bo by the party making and signing the same acknowledged before a Judge of a Court of Eecord, or before the Mayor Provost or Chief Magistrate of a city, town, borough, or other place, or before a Public Notary, where the same shall be made and signed ; and every declaration so signed and acknowledged shall be left with the cashier, manager or other officer, or agent of the Bank, who shall thereupon enter the name of the party entitled under such transmission in the registry of share- holders; and untM such transmission shall have been so authenti- cated no party or person claiming by virtue of any such transmis- sion shall be entitled to receive any share of the profits of the Bank, or to vote in respect of any such share or shares : provided always, that every 16 Proviso : When the declaration of transfer, <&c., are made out of Canada. Proviso for further proof. Transmission by marriage of female shareholder. Proviso as to authorization by husband. Transmission by decease of Shareholder. lurther pro- vision in such case. Cap. 5. Banks and Banking. 34 Y ICT. every such declaration and instrument as by this and the following section of this Act is required to perfect the transmission of a share or shares in the Bank which shall be made in any other country than Canada, or some other of the British colonies in North America, or in the United Kingdom of Great Britain and Ireland, shall be further authenticated by the British Consul or Yice-Consul, or other the accredited representative of the British Government in the country where the declaration shall be made, or shall be made directly before such British Consul or Yice-Consul or other accre- dited representative: and provided also that nothingin this Act contained shall be held to debar the directors, cashier or other officer or agent of the Bank from requiring corroborative evi- dence of any fact or facts alleged in any such declaration. 22. If the transmission of any share of the capital stock be by virtue of the marriage of a female shareholder, the declaration shall be accompanied by a copy of the register of such marriage, or other particulars of the celebration thereof, and shall declare the identity of the wife with the holder of such share, and shall be made and signed by such female shareholder and her husband ; and it shall be competent to them to include therein a declaration to the effect that the share transmitted is the sole property, and under the sole control of the wife, that she may receive and grant receipts for the dividends and profits accruing in respect thereof, and dispose of and transfer the share itself, without requiring the consent or authority of her husband ; and sush declaration shall be binding upon the bank and the parties making the same, until the said parties shall see fit to revoke it by a written notice to that effect to the Bank ; and farther, the omission of a statement in any such declaration, that the wife making the same is duly authorized by her husband to make the same, shall not cause the declaration to be deemed either illegal or informal ; any law or usage to the contrary not- withstanding. 23. If the transmission have taken place by virtue of any tes- tamentary instrument, or by intestacy, the probate of the will, or any letters of administration, or act of curatorship, or an official extract threfrom, shall, together with such declaration, be produced and left with the cashier, or other officer or agent of the Bank, who shall, thereupon, enter the name of the party entitled under such transmission, in the register of shareholders. 24 . If the transmission of any share or shares of the capital stock of the Bank be by the decease of any shareholder, the pro- duction to the Directors and the deposit with them of any authen- ticated 1871. 17 Banks and Banking. Cap. 5. ticated copy of the probate of the will of the deceased shareholder, or of letters of administration of his estate granted by any court in the Dominion having power to grant such probate or letters of ad- ministration, or by any prerogative, diocesan or peculiar court or authority in England, Wales, Ireland, or any British Colony, or of any testament testamentary or testament dative, expede in Scot- land, or, if the deceased shareholder shall have died out 'of Her Majesty’s dominions, the 23roduction to and deposit with the Direc- tors of any authenticated copy of the jDrobate of his or her will or letters of administration of his or her property, or other documents of like import granted by any court or authority having the requi- site j3ower in such matters, shall be sufficient justification and au- thority to the Directors for j)aying any dividend, or transferring, or authorizing the transfer, of any share or shares, in pursuance of and in conformity to such jDrobate, letters of administration, or other such document as aforesaid. 25. Whenever the interest in any share or shares of the capital Provision in stock of the Bank shall be transmitted by the death of any share- r^cTors h?ve holder or otherwise, or whenever the ownership of or legal right of reasonable possession in any such share or shares shall change by any lawful as'to^the*^°'^'^*^ means other than by transfer, according to the provisions of this entitled Act, and the Directors of the Bank shall entertain reasonable doubts Application ” as to the legality of any claim to and upon such share or shares of stock, then, and in such case, it shall be lawful for the Bank to make and file in one of the Superior Courts of Law or Equity in the Province in which the head office of the Bank is situated, a declaration and petition in writing, addressed to the Justices of the Court, setting forth the facts and the number of shares previously belonging to the party in whose name such shares stand in the books of the Bank, and praying for an order or judgment adjudi- cating and awarding the said shares to the party or parties legally entitled to the same, and by which order or judgment the Bank shall be guided and held fully harmless and indemnified and released from all and every other claim for the said shares or arising there- from : Provided always, that notice of such petition shall be given to the party claiming such snare or shares, or to the Attorney of such party duly authorized for the purpose, who shall upon the filing of such petition, establish his right to the several shares re- ferred to in such petition ; and the delays to plead and all other proceedings in such cases shall be the same as those observed in analogous cases before the said Superior Courts : Provided, also, that Proviso as to the costs and expenses of procuring such order and adjudication shall be paid by the party or parties to whom the said shares shall ' be declared lawfully to belong, and such shares shall not be trans- ^ ferred 18 Bank not boiffid to see to trusts. J i When the / stock stands / in more than ^ one name. One vote for each share. 1 Proxies, t Majority of votes to decide. Ties. Joint holders of Shares. Voting to he hy ballot. Cap. 5. Banks and Banking. 34 ViCT. ferred until Buch costs und expenses be paid, saving the recourse of sucb party against any party contesting his right. 26. The Bank shall not be bound to see to the execution of any trust, whether expressed, implied or constructive, to which any of the shares of its stock shall be subject, and the receipt of the party in whose name any such share shall stand in the books of the Bank, or, if it stands in the name of more parties than one, the receipt of one of the parties shall be a sufScient discharge to the Bank for any dividend or any other sum of money payable in respect of such share, unless express notice to the contrary has been given to the Bank ■ and the Bank shall not be bound to see to the application of the money paid upon such receipt, whether given by one of such parties or all of them. 2T. Each shareholder in the Bank shall, on all occasions on which the votes ot the shareholders are to be taken, have one vote for each share held by bim for at least thirty days before the tim e^ of meeting. Shareholders may vote by pro xy, |; )ut no person but a shareholder shall be permitted to votFor'act^>4uch proxy; and no Manager, Cashier, Bank Clerk or other subordinate oflScer of the Bank shall vote either in person or by proxy, or hold a proxy for that jDurpose. All questions proposed for the consideration of the said shareholders shall be determined by the majority of their votes; the chairman elected to preside at any such meeting of the said shareholders shall vote as a shareholder only, unless there be a tie, in which case (except as to the election of a Director) he shall have a casting vote ; and where two or more persons are joint holders of shares, it shall be lawful that one only of such joint holders be empowered by letter of attorney from the other joint holder or holders, or a majority of them, to represent the said shares, and vote accordingly ; and in all cases when the votes of the share- holders are, taken the voting shall be by ballot* Shareholders may regulate certain matters hy by-laws. 2^^. The shareholders in the Bank shall have power to regulate by by-law the following matters incident to the management and administration of the affairs of the Bank, viz. : the qualification, and number of Directors, which shall not be less than five nor more than ten, and the quorum thereof; the method of filling up vacan- cies in the Board of Directors whenever the same may occur during each year ; and the time and proceedings for the election of Direct- ors, in case of a failure of any election on the day appointed for it : — the remuneration of the President, Vice-President and other Directors; and the closing of the transfer book during a certain time not exceeding fifteen days, before the payment of each semi- annual 1871. Banks and Banking. Cap. 5. annual dividend r — Provided that no Director shall hold less than three thousand dollars of the stock of the Bank, when the paid up Capital thereof is one million dollars or less, nor less than four thou- sand dollars of stock when the paid up capital thereof is over one million and does not exceed three millions, nor less than five thou- sand dollars of stock when the paid up capital thereof exceeds three millions ; the Directors shall be elected annually by the shareholders and shall be eligible for re-election : Provided that the foregoing provisions, touching Directors, shall not apply to a Bank en com- mandite, which shall in these matters be governed by the provisions of its charter. The shareholders (or, if the Bank be en commandite^ the principal partners) may also regulate by by-law the amount of Discounts to discounts or loans which may be made to Directors (or, if the Bank &c. be en commandite, to the principal partners), either jointly or severally or to any one firm or person, or to any shareholder or to corpora- tions : Provided that until it is otherwise ordered by by-law under . this section, the by-laws of the Bank on any matter which can be Certain by- regulated by by-law under this section, shall remain in force except remain in as to the qualification of Directors, as to which they shall remain in toce. force until the next annual general meeting of the shareholders after after i Jolly, the first day of July, 1871, after which no person shall be a Director unless he possesses the number of shares hereby required, or suck greater number as may be required by any by-law in that behalf. Any number not less than twenty-five of the shareholders Special gene- of the Bank who together may be proprietors of at least one-tenth * of the paid uji capital stock of the Bank, by themselves or by their proxies, or the Directors of the Bank or any four of them, shall have power at any time to call a special general meeting of the shareholders of the Bank to be held at their usual place of meet- ing upon giving six weeks previous public notice, specifying in such notice the object or objects of such meeting ; and if the object of any such special general meeting bo to consider of the proposed pi-ovision if removal of the President or Vice President, or of a Director or tbe President ' or V ioG~ Directors of the said Bank for maladministration or other specified President or and apparently just cause, then if a majority of the votes of the reml^yed°"^ shareholders of such meeting bo given for such removal, a Director or Directors to replace him or them shall be elected or appointed in the manner provided in the By-Laws of the Bank, or if there be no by-laws providing therefor, then by the shareholders at such meeting ; and if it be the President or Vice-President who shall be removed, his ofiice shall be filled up by the Directors (in the manner provided in case of a vacancy occurring in the office of President or Vice-President) who shall choose or elect a Director to serve as such President, 19 Proviso as to qualification of Directors. Annual elec- tion of Directors. 30 . 20 Cap, 5, Banks and Banking, 84 Yict. President and Directors. AntuTal gene- ral meeting of shareholders, and election of directors. Notice, ^ . jj,.. ' 1 y Case of equality of votes. Vacancies among direc- tors ; how filled. Election of President, &c. Proviso. 30« The stock, property, affairs and concerns of the Bank shall he managed by a Board of Directors, the number to he fixed as herein provided, who shall choose from among themselves a Presi- dent and Vice-President; the Directors shall be natural born or naturalized subjects of Her Majesty, and shall be elected on such day in each year as may be or may have been appointed by the charter or by anj by-law of the Bank, and at such time of the day and at such place where the head office of the Bank is situate, as a majority of Directors for the time being shall appoint; and public notice shall be given by the Directors, by publishing the same at least four weeks in a newspaper of the place where the said head office is situate, previous to the time of holding such election; and the election shall be held and made by such of the shareholders of the Bank as have paid all calls made bv the Directors and as shall attend for the purpose in their own proper persons or by proxy, and all elections for Directors shal be by ballot, and the said proxies shall only bo capable of being held and voted upon by shareholders then present, and the persons, to the number fixed by by-law, as hereinbefore provided, who have the greatest number of votes at any election, shall he Directors ; provided that if it should happen at any election that two or more persons have an equal number of votes, and the election or non-election of one or more of such per- sons as a Director or Directors depends on such equality, then the Directors who shall have had a greater number, or the majority of them, shall determine which of the said persons so having an equal number of votes shall be the Director or Directors, so as to complete the full number ; and in case of a vacancy occuring in the number of Directors, such vacancy shall be filled in the manner provided by the by-laws, but the non-filling of the vacancy shall not vitiate the acts of a quorum of the remaining Directors ; and if the vacancy so created shall be that of a President or Vice-President, the Direc- tors at the first meeting, after completion of their number, ^h’all, from among themselves, elect a President or Vice-President, who shall continue in office for the remainder of the year. And the said Directors, as soon as may be after the said election, shall proceed in like manner to elect by ballot two of their number to be Presi- dent and Vice-President; provided always, that no person shall be eligible to be or continue a Director, unless he shall hold, in his name and for his own use, stock in the said Bank to the amount hereinbefore provided. 31 . ^ 0 (/ 1/1/ /ua^ a ^wi ^ Ui/ ^64y^luu> ^^juH a/t(Ax^ Ci A/C(y j/i(}C(A.'/^j - ,^JjUH 4A//^ ^ llAHiA/^ ^ ^AaA/Ha4\^ ' Ci^l^Xi^ f y/i) /ty Au^c/k/ C(/v/^y^ti/f '^-^AhvLtj Aa^ dCl i^tAyAuyXX^ CaA£f fytac /W /Ai ^jL/cccAth^ ' Hcul tA/AcMAA / Aaax^ lA^aX-Af A^jh^J/ ^ ! J/ca( tA//uu/u^ iy alcd t<^/^/AjC C/HiMyOtr Ah/[Ac 0^ (Am4dA>cHi.J l^^^du4.A/t^ ^^Af£cbXAJ Au/AuvA tUcd 'fajAidyuy(^ JtcAti^ 4^^-t/cAu^ juajmA^'-pUa}^ tt ^ ^ /yV Jl LHAjtAr ^AaaAAiAaA t d^ ^lAxJtdy 'Ao l^aiAjl4 Marty who will sue for the same j and one-half of sueh sum shall belong to the party suing for the same, and the other half to Her Majesty, for the public uses of the Dominion : The intention to pass any such instrument as money, shall be what shall be presumed, if it be made for the payment of a less sum than twenty deemed such dollars, and be payable either in form or in fact to the bearer thereof, or at sight or on demand, or at less than thirty days there- after, or be overdue, or be in any way calculated or designed for circulation, or as a substitute for money; unless such instrument be a check on some Chartered Bank, paid by the maker directly to his immediate creditor, or a promissory note, bill of exchange, bond or other undertaking, for the payment of money paid or delivered by the maker thereof to his immediate creditor, and be not designed to circulate as a substitute for money : Provided always, that the Halifax Banking Company may, until Proviso as to the end of the year 1874, continue to re-issue their notes now in Halifax Ban) circulation, but the whole of such notes shall, as far as practicable, ^ompauj. be called in and withdrawn by the end of the said year. NOTICES. G9. The several public notices by this Act required to be given. How notices shall be given by advertisement in one or more of the newsnaners iTiTiji T T •. ^ ^ snail b© given. published at the place where the Head Office of the Bank is situate, ^ an4 84 Cap. 5. Banks and Banking. 84 Tict. Bank to be subject to any General Winding-up Act. And to any General Bank Act. What sections shall apply to Bank of Brit. Jl’th America. How existing Banks not in schedule may come under this Act. and in the Canada Gazette or such other Gazette as shall be gene- rally known and described as the Official Gazette for the publication of official documents and notices emanating from the Civil Govern- ment of this Dominion. FUTUBE LEGISLATION. TO» The Bank shall be subject to such provisions of any general or special winding-up Act to be passed by Parliament as may be declared to apply to Banks'; and no special Act which Parliament may deem it right to pass for winding-up the atfairs of the Bank in case of its insolvency, shall be deemed an infringement of its rights or of the privileges conferred by its Charter. The Bank shall always be subject to any general provisions respecting Banks which Parliament may deem necessary for the public interest. SPECIAL PROVISIONS AS TO CERTAIN BANKS. TS. The Bank of British North America, which, by the terms of its jiresent Charter, is to be subject to the general laws of the Domi- nion, with respect to Banks and Banking, shall not issue or re-issue in Canada any note for a less sum than four dollars, and any such note of the said Bank outstanding shall be called in and redeeiried as soon as practicable: and the provisions contained in the ninth, twelfth, thirteenth, fourteenth, sixteenth, forty-fifth, forty-sixth, forty-seventh, forty-eighth, forty-ninth, fiftieth, fifty-first, fifty- second, fifty-third, fifty-fourth, sixtieth, sixty-first, sixty-second, sixty-fourth, sixty-fifth, sixty-sixth, sixty-seventh, sixty-ninth, and seventy-first sections of this Act shall apply to the said Bank ; those contained in the other sections shall not apply to it.* TS. This Act shall not apply to any now existing Bank not men- tioned in the schedule thereunto annexed (except the Bank of British North America to the extent aforesaid and La Banque du Peuple to the extent hereinafter mentioned) unless the Directors of such Bank shall, by special resolution, apply to the Treasury Board that the provisions of this Act may be extended to such Bank, nor unless the Treasury Board allows such application, and upon publication in the Official Gazette of such resolution, and of the minute of the Treasury Board thereon, allowing such application, such Bank shall come under the provisions of this Act. T4. # By 35 Vic., cap. 8, sec. 1 (see p. 36), section 15 is declared to also apply to the Hank of Hritisb North America, 1871. Banks and Banking. Cap. 5 35 T4. In pursuance of the application made by the Bank of hTova capitiii of Scotia in that behalf, it shall be lawful for the shareholders of the 5^°!^ Scotia may be said Bank, at any special general meeting called for the purjpose, reduced, and by a by-law to be passed thereat, to reduce the capital and shares of the said Bank by an amount not exceeding thirteen per cent, thereof respectively, and the shares and capital shall thereafter be reckoned at the amount to which they shall be so reduced. Sections four, thirty-nine to fifty-four both inclusive, sixty, sections sixty-one and sixty-two, and sixty-four to sixty-eight both inclusive, shall or shall shall apply to La Banque du Beuple from and after the passing of La^Banque°du this Act, and all the other provisions of -this Act [except those con- People- tained in sections one, two, three, five, six, seven, twenty-seven, twenty-nine, thirty, thirty-one, thirty-two, thirty-three, thirty-five, thirty-six, thirty-seven, fifty-seven, fifty-eight, fifty-nine, sixty-three, seventy, seventy-two, seventy-three and seventy-four, and so much of section twenty-eight as is declared not to apply to Banks en com- mandite] shall apply from and after the first day of July next to La Banque du Peuple, provided that wherever the word ‘‘ Directors ” is used in any of the sections which apply to the said Bank it shall be read and construed as meaning the principal partners or members of the Corporation of the said Bank ; and so much of the Act incor- porating the said Bank or of any Act amending or continuing it as may be inconsistent with any section of this Act applying to the said Bank, or which makes any provision in any matter provided for by the said sections other than such as is hereby made, is hereby repealed. REPEALING AND SAVING CLAUSES. T®. The Act passed in the thirty-third year of Her Majesty’s 33 vict., o. ll, reign, chaptered eleven, and intituled “ An Act respecting Banks and Banking," is hereby repealed ; and the Act passed in the thirty- first year of Her Majesty’s reign and intituled “ An Act respecting Banks" is hereby repealed in so far as respects Banks to which this Act applies, including the Bank of British North America and La Banque du Peuple, and shall cease to apply to them after the pass- ing of this Act (or after they respectively come under its provisions, if they are now existing Banks and not mentioned in the schedule), c. 21, as to ’’ except as to rights theretofore acquired under or offences committed Banks, against it, but shall remain in force as regards other Banks until the end of the session of Parliament commencing next after the first day of January, in the year of Our Lord one thousand eight hundred and seventy-two, 7T* 86 Cap. 5, 8. Banks and Banking. 34, 35 ViCT. Saying pend- ing oases. Preamble. 34 Viet., c. 5. Error in sec- tion 72, as to Bank of British North America corrected. ■ TT- Nothing in this Act contained shall affect any case pending when it shall come into force, hut such case shall he decided as if this Act had not been passed. SCHEDULE. Banks whose Charters are Continued hy this Act. The Bank of Montreal. Quebec Bank. City Bank. Niagara District Bank. Molson’s Bank. Bank of Toronto. Ontario Bank. Eastern Townships’ Bank. La Banque Nationale. Banque Jacques Cartier. The Merchants’ Bank of Canada. Eoyal Canadian Bank. Union Bank of Lower Ca- nada, Canadian Bank of Commerce. Mechanics’ Bank. Dominion Bank. Merchants’ Bank of Halifax. Bank of Nova Scotia. Bank of Yarmouth. CAP. vm. An Act to amend the Act relating to Banks and Banking, \Assented to 14^A June, 1872.] I N amendment of the Act passed in the thirty-fourth year of Her Majesty’s reign, intituled : An Act relating to Banks and Bank- ing ," — Her Majesty, by and with the advice and consent of the Sen- ate and House of Commons of Canada, enacts as follows : 1 . Whereas by the fifteenth section of the Act cited in the pre- amble, it is provided that every Bank to which the said Act applies, shall be exempt from the tax on the average amount of its notes in circulation, to which other Banks will continue liable, and from the obligation to hold any portion of its capital in Government Deben- tures or debentures of any kind, and the Bank of British North America is one of the Banks to which the said Act applies, and is so described in section seventy-six, and is subject to the obligations in consideration whereof the exemptions in the said fifteenth section were granted, but by a clerical error in the seventy-second section, enumerating the sections which apply to the said Bank, the said fifteenth section was omitted, and it is expedient to remedy such error, — therefore and for the removal of doubt, it is declared and enacted that the said fifteenth section shall apply to the said Bank, and shall be held to have so applied from the time when the said section came into force with respect to the Banks mentioned in the Schedule, to the said Act, ) 3 . im. 57 Banks and Banking. Cap. 8. 2. And whereas it is provided by Acts of the Parliament of Recital; usury Canada, that Banks shall not he liable to incur any penalty or for- laws in certain feiture for usury, and may stipulate for, take, reserve, or exact any rate of interest or discount not exceeding seven per centum per annum, and may receive and take in advance any such rate, hut no higher rate of interest shall he recoverable by the bank j — and Notes, &c., not whereas in some of the Provinces of Canada, laws may he in force, deemed . . , . . . , , ' ^ Usurious by imposing penalties on parties other than Banks, for taking, or reason of stipulating, or paying more than a certain rate of interest, and ty^^Brnks^or*^ doubts may arise as to the effect of such laws in certain cases, as to allowed to one parties other than the Bank, to negotiable securities discounted or anotheHn otherwise acquired and held by any Bank, — therefore, it is declared consideration and enacted, that no promissory note, hill of exchange or other interest; and negotiable security discounted by, or indorsed or otherwise assigned “iiocent any Bank, to which any such Act of the Parliament of Canada liable to as aforesaid applies, shall be held to be void, usurious, or tainted by fo^ss^of^remedy' usury, as regards such Bank or any maker, drawer, acceptor, indor- of ser, or indorsee thereof, or other party thereto, or bona fide holder otbe^ thereof, nor shall any party thereto be subjuct to any penalty or forfeiture, by reason of any rate of interest taken, stipulated or re- ceived by such Bank, on or with respect to such promissory note, bill of exchange, or other negotiable security, or paid or allowed by any party thereto to another in compensation for, or in consideration of the rate of interest taken, or to be taken thereon by such Bank,— but no party thereto, other than the Bank, shall be entitled to recover or liable to pay more than the lawful rate of interest in the Province where the suit is brought, nor shall the Bank be entitled ' to recover a higher rate than seven per cent, per annum ; and no innocent holder of or party to any promissory note, bill of exchange, or other negotiable security, shall in any case be deprived of any remedy against any party thereto, or liable to any penalty or for- feiture, by reason of any usury or offence against the laws of any such Province respecting interest, committed in respect of such note, bill or negotiable security, without the complicity or consent of such . innocent holder or party. ^ 3 . It shall be lawful for any Bank to which the Act first herein Banks to cited applies (including the Bank of British North America, and La wiiich34Yict., Banque du Peuple) to receive deposits from any person or persons may Seive whomsoever, whatever be his, her or their age, status or condition SnOTlf&oT in life, and whether such person or persons be qualified by law to ^nd repay enter into ordinary contracts or not, and from time to time to repay iSuiif any or all of the principal thereof and to pay the whole or any part before of the interest thereon, to such person or persons respectively, with- repayment, out the authority, aid, assistance, or intervention of any person or / persons, §8 85 'V iCT?. Proviso : as to amount. Such Banks not bound to see to trusts to ■which such deposits may be subject. Provisions as to cereal grains, malt, and hogs, extended. Sect. 51, par. 2, amended as to sale of stock pledged. Advances on vessels building. Cap. 8. Banks and Banking. persons, official or officials, being required, unless before such repay- ment the money so deposited in and repaid by the Bank, be lawfully claimed as the property of some other party, in which case it may be paid to the depositor with the consent of the claimant, or to the claimant with the consent of the depositor, any law, usage, or custom to the contrary ” notwithstanding ; — Provided always, that if the person making any deposit, as aforesaid, could not, under the law of the Province where the deposit is made, deposit and withdraw money in and from a Bank without this Act, then and in that case the total amount of deposits to be received from such person on deposit shall not at any time exceed the sum of five hundred dollars. 4 . No such Bank shall be bound to see to the execution of any trust, whether expressed, implied, or constructive, to which any deposit made under the authority of this Act may be subject ; and, except only in the case of lawful claim by some other party before repayment, the receipt of the person in whose name any such deposit stands, or, if it stand in the name of two persons, the receipt of one, and if in the names of more than two persons, the receipt of a majority of such persons, shall be a sufficient discharge to all con- cerned for the payment of any money payable in respect of such deposit, notwithstanding any trust to which such deposit may then be subject, and whether or not the Bank sought to be charged with such trust, (and with whom the deposit may have been made), had notice thereof ; and no such Bank shall be bound to see to the appli- cation of the money paid upon such receipt, any law or usage to the contrary notwithstanding. 5 . The provisions contained in sections forty-six, forty- seven and forty-eight of the Act cited in the Preamble are hereby extended to cereal grains in process of being converted into malt or flour, and to malt and maltsters, and also to hogs when converted into bacon and hams. 6 . The provisions of the second paragraph of the fifty-first section of the said Act as to the sale of stock, bonds, debentures and secur- ities in case of default to pay the debt for securing which they were acquired by a bank, may be departed from or varied by any agree- ment between the bank and the owner of such stock, bonds, deben- tures or securities, made at the time at which such debt was incurred, or if the time of payment of such debt has been extended then by an agreement made at the time of such extension. T. Any bank advancing money in aid of the building of any ship or vessel, shall have the same right of acquiring, and holding security upon such ship or vessel while building and when com- pleted, 1872. ^anks and banking. Cap. 8. S9 pleted, either by way of mortgage, hypothec, hypothecation, privi- lege or lien thereon, or purchase, or transfer thereof, as individuals have in the Province wherein such ship or vessel is being built, and for that purpose shall be authorized to avail itself of all such rights and means of obtaining and enforcing such security, and shall be subject to all such obligations, limitations and conditions, as are by the law of such Province conferred or imposed upon individuals making such advances. 8 . In all matters relating to bills of exchange and j)roniissory Hoiidaj^ and notes, the following and no other shall be observed as legal boMays, or non-juridical days, that is to say ; — 1. In the Provinces of Ontario, New Brunswick and Nova-Scotia, — Sundays. New Year’s Day. Good Friday. Christmas Day. The birthday (or the day fixed by proclamation for the celebration of the birthday) of the reigning Sovereign. Any day appointed by proclamation for a public holiday, or for a general fast, or a general thanksgiving throughout the Dominion ; and the day next following New Year’s Day, and Christmas Day, when these days respectively fall on Sunday. And in the Province of Quebec the same days shall be observed as legal holidays, with the addition of, — The Epiphany. The Annunciation. The Ascension. Corpus Christi. St. Peter and St. Paul’s Day. All Saints’ Day. Conception Day. 2. And in any one of the said Provinces of the Dominion any day appointed by proclamation of the Lieutenant-Governor of such Pro- vince for a public holiday or for a fast or thanksgiving within the same. 3. And with regard to bills of exchange and promissory notes, As to bills of whenever the last day of grace falls on a legal holidav or non-iuri- or j" 1 1 • T. • 1 n T.,, " ^ notes falling dicai day in the Province where any such bill or note is payable, due on such then the day next following not being a legal holiday or non-juridi- cal day in such Province shall be the last day of grace as to such bill or note.* 4. ■ * See 35 Vic., cap. 10 (p. 82), as to maturing of notes payable at a month or months after date. ^0 Inconsistent enactments repealed. Extent of Act. Preamble. 34 Viet., c. 5. Form of monthly return amended. NeTT form. Chap. 8, 43. Banks and Banking, Act amended. 35, 36 YiO'I'. 4. All provisions of any Acts or laws, or portions of Acts or laws, heretofore in force in any of the said Provinces or of the Dominion inconsistent with the provisions of this section are hereby repealed. f>. This Act shall apply to the Provinces of Ontario, Quebec, Nova Scotia and New Brunswick only. CHAP. 43. An Act further to amend the Act relating to Banks and Banking. [Assented to 23rcZ May, 1873.] I N amendment of the Act passed in the thirty-fourth year of Her Majesty’s reign, and intituled “ An Act relating to Banks and Banking Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : — 1 . Instead of the form given in the thirteenth section of the said Act as that in which the monthly returns to be made to the Grovern- ment by any Bank to which the said Aet applies are to be made up, the following form shall be substituted for all such returns to bo made on or after the first day of July, in the present year, one thousand eight hundred and seventy-three : and all the provisions of the said section and Act shall apply accordingly : — Eetijrn of the amount of Liabilities and Assets of the Bank, on the day of , A.D. 18 Capital Authorized, $ . Capital Subscribed, $ Capital Paid Up, $ LIABILITIES. 1. Notes in circulation 2. Dominion Government deposits, payable on demand . 3. Dominion Government deposits, payable after notice or on a fixed day 4. Provincial Government deposits, payable on demand . 5. Provincial Government deposits, payable after notice or on a fixed day. 6. Other dejiosits, payable on demand 7. Other deposits, payable after notice or on a fixed day. 8. Due to other Banks in Canada cts. 9 . 0 1878. Banks and Banking, Act amended, S^c. Ckap. 48. 9. Due to Agencies of the Bank or to other Banks or Agencies in foreign countries 10. *Due to Agencies of the Bank, or to the Bank itself when its Head Office is in the United Kingdom, or to other Banks or Agencies in the United Kingdom. 11. Liabilities not included under the foregoing heads ... ASSETS. 1. Specie 2. Dominion notes 3. Notes of and cheques on other Banks 4. Balances due from other Banks in Canada 5. Balances due from Agencies of the Bank, or from other Banks or Agencies, in foreign countries. 6. Balances due from Agencies of the Bank, or from other Banks or Agencies, in the United Kingdom... 7. Government debentures or stock 8. Loans to the Government of the Dominion 9. Loans to Provincial Governments 10. Loans, discounts, or advances, for which shares of the capital stock of any other Bank are held as collateral security. 11. Loans, discounts, or advances, for which the bonds or debentures of Municipal or other corporations, or Dominion, Provincial, British or Foreign public securities are held as collateral securities 1 2. Loans, discounts, or advances, on current account to corporations 13. Notes and bills discounted and current 14. Notes and bills discounted, overdue and not specially secured 15. Overdue debts, secured by mortgage or other deed on real estate, or by deposit of or lien on stock, or by other securities 16. Beal estate, the property of the Bank (other than the Bank premises), and mortgages on real estate sold by the Bank 17. Bank premises 18. Other assets, not included under the foregoing headsf $ cts. We * Amended by 38 Vic., cap, 17 (p. 42), to read as folloAVS : — “ 10. Ihie to Agencies of the Bank, or to other Banks or Agencies in the United Kingdom.” t The same Act further amends this form by adding the following item.: — “ LIABILITIES OP DIRECTORS.” “ Aggregate amount of the direct and indirect liabilities to the Bank of its Directors and of the firms pr partnerships in which they, or any of them, have any interest.” 42 Preamble. 34 Viet., cap. 5, sect. 40, ameaded. Bank not to deal in its own stock. J6 Viet., 0. 43, form of return amended. Agencies. Form of return further amended. Chaps. 4s, 17. Banks and Bankings Amendment. 36, 38 YlC'f . We declare that the foregoing return is made up from the books of the Bank, and that it is correct to the best of our knowledge and belief; and we further declare that the Bank has never at any time, during the period to which the said return relates, held less than one-third of its cash reserves in Dominion notes. {Place) this day of , 18 . A. B., President, &c. G. D., CasMer, &c. CHAR 17. An Act to amend the Act therein mentioned, respecting Banks and Banking [Assented to 8th April, 1875] H EE Majesty, by and with the advice and consent of the Senate and House of Commonns of Canada, enacts as follows : — !• Section forty of the Act, chapter five, passed in the thirty- fourth year of Her Majesty’s reign, is hereby amended by the addition of the words following : — “Hor shall the bank, either directly or indirectly, purchase or “ deal in any share or shares of the capital stock of the bank, except “ where it is neceasary to realize upon any such share or shares “held by the bank as security for any pre-existing and matured “ debt.” 2m The item numbered ten in the form prescribed by the first section of the Act of the Parliament of Canada, passed in the thirty, sixth year of Her Majesty’s reign, and intituled “ An Act further tc amend the Act relating to Banks and Banking,'' under the heading “ Liabilities,” is hereby so amended as to read as follows : — “ 10. Due to Agencies of the Bank or to other Banks or Agencies “ in the United Kingdom.” 3> The said form is hereby further amended by adding thereto immediately after the item number Eighteen, under the heading “ Assets ” as follows — ii LIABILITIES 1875, 1876. Insolvent Intoipofaied Banks, Chaps. 17, 3l, 4 ^ “ LIABILITIES OF DIRECTORS.” “ Aggregate amount of the direct and indirect Liabilities of liabilities to the Bank of its Directors and of the firms or partner- ships in which they or any of them have any interest.” $ CHAP. 31, An Act to make provision for the Winding-up of Insolvent Incorporated Banks. \_Assented to \2>th April, 1876.] W HEEEAS it is expedient to make provision for winding-up the Preamble. estates of the insolvent incorporated Banks, therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : — 1 . Notwithstanding anything contained in the Insolvent Act of insolvent Act 1875,” the provisions of the said Act shall apply to incorporated Banks, subject to the modifications contained in the one hundred modifications, aod forty-seventh section of the said Act, and to the following addi- tional modifications which apply to the case of incorporated Banks only. 2 . No application for a writ of attachment against, and no assign- When only ment of the estate shall be made until after the Bank has, whether auacbment before or since the passing of this Act, become insolvent by suspen- may issue or sion of payment for ninety days, under the provisions of the fifty- may^brmade. seventh section of “ An Act relating to Banks and Banking,” passed ^4 Viet., c. 5. in the thirty-fourth year of Her Majesty’s reign, chaptered five. 3. The judge may adjourn proceedings upon any ajiplication for judge may a writ of attachment, for a time not exceeding six months from the Adjourn time at which the Bank suspended payment. proceedings for writ. The judge may order that the jireliminary inquiry authorized judge may by the first sub-section of the said one hundred and forty-seventh section shall be made by a peason or persons ether than an official to be made by assignee, to be by him named on the application of the parties, and appoin^d by the nerson or persons so named shall have all the rights and dis- ^^*“5 charge all the duties appertaining to the official assignee in con- nexion S9 Tict. 44 Chap. 81. Insolvent Incorporated Banks. He may extend time for report. Bank not to carry on business when insolvent. Incorporated Bank may be receiver. Additional powers of receiver. Additional powers of assignee after attachment. What to be sujG&cient notice to note -holders. Reservation of dividends on outstanding notes. As to action under sub-s. 15 of s. 147. Extent of appeal under section 128. nexion with such inquiry ; and the judge may extend the time for report upon such inquiry to a period not exceeding thirty days from the date of the order for inquiry. 5. Nothing herein, or in the said Insolvent Act, contained shall be held to authorize the carrying on or continuing the business after the Bank has become insolvent as aforesaid. « 6 . An incorporated Bank may be appointed a receiver or cre- *ditors’ assignee, and in case a Bank is so appointed it may act through one or more of its principal officers, to be approved by the judge. The receiver shall, in addition to the powers vested in him under the said hundred and forty-seventh section, have the powers vested by the fifty-seventh, fifty-eighth and fifty-ninth sections of the said Act respecting Banks and Banking in the “ assignee, or as- signees, or other legal authorities,” in the said fifty-seventh section named. 8 . After the issue of the writ of attachment the assignee shall, in addition to the powers vested in him under the Insolvent Act, have like powers to those given to tiie receiver under the next preceding section of this Act. 9. Publication in the Canada G-azette, and in one newspaper issued at or nearest the place where the head office is situate, of notice of any proceeding of which, under the Insolvent Act, cre- ditors should be notified, shall be deemed sufficient notice to holders of notes of the Bank intended for circulation. 10. It shall be the duty of the assignee to ascertain as nearly as may be the amount of notes of the Bank intended for circulation and actually outstanding, and to reserve until the expiration of at least two years after the Bank has become insolvent, or until the last dividend, in case that is not made till after the expiration of the said time, dividends on such part of the said amount in respect of wJtiich claims may not be filed ; and if claims have not been filed and dividends applied for in respect of any part of the said amount before the period herein limited, the dividends so reserved shall form the last or part of the last dividend. 11. Nothing shall be done under the fifteenth sub-section of the hundred and forty-seventh section of the said Insolvent Act of 1875,” save upon order of the court or judge. 12 . The appeal provided for by the hundred and twenty-eighth section of the said Act shall extend to all orders, judgments or decisions of the judge. CHAP. mi. Government Savings Banks. Cap. 6. 45 CAP. VI. An Act to provide Additional Facilities for Depositing Savings at Interest with the Security of the Gov- ernment, and for the Issue and Redemption of Dominion Notes.* {Assented to 14^A April, 18T1.] W HEREAS, it is expedient to increase the facilities now available Preamble. for depositing savings at interest with the security of the Government for the due repayment thereof, and to make further provision for the issue and redemption of Dominion Notes : Therefor^ Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows ; — 1 . From and after the passing of this Act, the Governor may appoint at each of the cities of Halifax and St. John, N.B., a proper person to be an Assistant to the Receiver General, and such Assist- ant Receivers General shall have the management of the Head Office of the Savings Banks to be established in the Provinces of Nova Scotia and New Brunswick respectively; and the Governor may establish Branch Savings Banks in any other places in the said Provinces, and may appoint proper persons as Agents for the manage- ment of such Branch Savings Banks ; and such Assistant Eeceivers- General and Agents respectively, shall, under such regulations as shall from time to time be made in that behalf by the Treasury Board, with the approval of the Governor in Council, receive depo- sits of money on account of the Receiver-General, and repay the same with interest to the depositors as hereinafter provided ; and the word “ Agent,” when hereinafter used, shall include the Assistant Receivers-General, unless the context requires a more restricted meaning : Provided, always, that such of the Collectors of Customs in the Province of New Brunswick as, at the time of the coming into force of this Act, are authorized to receive deposits of money as savings, shall continue to receive the same, unless or until other Savings Bank Agents are appointed in their stead respectively, and shall be subject to all the provisions of this Act as such Agents ; and any money received by such Collectors before the coming into force of this Act shall be dealt with as moneys received by them under this Act. Assistant Re- ceivers Gene- ral may be appointed at Halifax, and St. John.N.B., and Agents under them. Their duties as regards Sav- ings Banks in Nova Scotia and New Brunswick. Proviso : as to Collectors now receiving de- posits of sav- ings in New Brunswick. 3 . * Amended by 35 Vic., cap. 9 (p. 68). 46 Cap. 6. Government Savings Banks. 34 ViCT, Deposits, how made, entered and proved. Report to Minister of Finance. Monthly or periodical re- port, and its effect, as to deposit ac- counts. Depositor to give his ad- dress, <&c. Deposits to he paid into Bank, to cred- it of Receiver General ; Withdrawals how paid, &c. g. Every deposit received by any such agent as aforesaid, shall by him be entered at- the time in a book to be kept by him for the purpose, and shall at the same time be entered by him in a pass-book to be furnished to the depositor; and the entry in such pass-book, attested by the signature or initials of the agent who so receives the deposit, or of his deputy or clerk, shall be evidence of the depositor’s claim to the repayment thereof, with interest thereon, upon demand made by him on such agent or his successor in ofiS.ce, such demand being made at the place and during the hours open for such busi- ness, subject to the provisions hereinafter mentioned, that is to say, — Each agent shall report to the Minister of Finance, at such times and in such form as may be prescribed by the regulations to be made under this Act, all deposits received by him. At such times as may be prescribed by the regulations to be made under this Act, but not at less intervals than the beginning of each calendar month, the ofl&cer appointed thereto by the Minister of Finance shall send by mail to each depositor, to the address given by him, a notice stating the sums deposited by him since the state- ment of the same kind then last sent him (if any) and the total amount then at his credit ; and the amount mentioned in such notice, and no more, shall be that for which the Government shall be liable, up to the last deposit therein mentioned, unless the depositor, within thirty days after the receipt of such notice, notifies the Minister of Finance in such manner as may be prescribed by the regulations then in force, that there is some error, and what error, in the notice, in which case the true amount shall be ascertained, and the depositor notified accordingly. 3 . Every depositor, on making his or her first deposit, shall declare his or her name, residence, quality and occupation ; but the persons engaged in the receipt or payment of deposits shall not dis- close the name of any depositor, or the amount deposited or with- drawn, except to the Minister of Finance, the Eeceiver General, or such of their ofl&cers respectively as may be appointed to assist in carrying into operation the provisions of this Act. 4 . Every agent appointed as aforesaid to receive deposits shall, at such times as may be prescribed by the regulations then in force, pay in to the account of the Receiver General, at such Bank as he may be directed, all the moneys received by him on deposit, and he shall pay all withdrawals in such manner as by the said regulations may be prescribed ; and he shall also, at such times as may be so prescribed, transmit to the Minister of Finance, in such form as he shall be directed, a detailed account of the business of his ofiSce during Government Savings Banks. 47 1871. Cap. 6. during the time that has elapsed since the transmission of his immediately preceding account. 5* The interest payable to the parties making such deposits shall he at such rate not less than of four per centum per annum as the Governor in Council may from time to time appoint ; hut such interest shall not he calculated on any amount less than one dollar or other than a dollar or the multiple of a dollar. 6. On the thirtieth day of June in every year the interest accrued on deposits shall be added to and become part of the principal money. ’7» It shall be lawful for the agents appointed to receive deposits as aforesaid, to receive deposits from any person or persons whom- soever, whatever be his, her or their age, status or condition in life, and whether such person or persons be qualified in law to enter into ordinary contracts or notj and from time to time to pay any or all of the principal thereof, and the whole or any part of the interest thereon, to such person or persons respectively, without the autho- rity, aid, assistance, or intervention of any" person or persons, official or officials, being required, any law, usage or custom to the contrary notwithstanding : Provided always, that if the person making any deposit, as aforesaid, could not under the law of the Province where the deposit is made, deposit and withdraw money in and from a Bank, then and in that case the total amount of deposits to be received from such person shall not exceed the sum of five hundred dollars. 8. No officer of the Government shall be bound to see to the exe- cution of any trust, whether expressed, implied, or constructive, to which any deposit made under the authority of this Act may be subject; and the receipt of the person in whose name any such deposit stands, or, if it stand in the name of more persons than one, the receipt of one of the persons shall be a sufficient discharge to all concerned for the payment of any money payable in respect of such deposit, notwithstanding any trust to which such deposit may then be subject, and whether or not the agent sought to be charged with such trust (and with whom the deposit may have been made), or his successor, had notice thereof ; and no agent or any other officer of the Government shall be bound to see to the application of the money paid upon such receipt, any law or usage to the contrary notwithstanding. O. Any payment made in good faith to any person or persons appearing primd facie, by the production of a declaration in writing and documents in support thereof, made under the provisions of this Act, Interest on deposits. Interest added yearly to principal. Deposits may be received from persons under age, &c. Proviso : amount limit- ed in such case. Officers of Government not bound to see to trusts. Payments made bona fide on certain documents to be valid. 48 Government Savings Banks. 84 Yict, Governor in Council may make Regulations for carrying out this Act. 9 Their effect. Regulations to be published and copies laid before Parliament. Agents and officers to take an oath of office. The oath. Cap. 6. Act, to be entitled to any interest or deposit, shall be valid and shall discharge the agent with whom the deposit may have been made, and his successors and all who might otherwise have been liable, from all or any further claim by any person whomsoever for such interest or deposit. 10. The Giovernor in Council shall have power to make, and from time to time to add to, alter or revoke such regulations as to him may seem meet, for prescribing the mode of keeping and examining, inspecting and checking, and reporting the accounts of depositors, and of withdrawing deposits and interest, and the issuing of deposit certificates ; and also respecting the payment or transmis- sion thereof in case of infancy, or of death, bankruptcy, marriage, or other change in the circumstances of any depositor, and for pre- scribing how and in what manner any such payment or transmission shall be made, and what declaration, documents or other evidence shall be necessary and [sufficient in proof of the same, and also respecting the duties and powers of inspectors appointed under the fourteenth section of this Act, and all other matters which the Grovernor in Council may deem incidental to Lhe carrying of the provisions of this Act into effect : And all regulations so made shall be binding on the parties interested in the subject matter thereof, to the same extent, and as fully to all intents and purposes, as if such regulations formed part of this Act ; and such regulations, and all amendments thereof, shall be published in such way as the Gov- ernor in Council may direct, and copies thereof shall be laid before Parliament within fourteen days of its meeting next after the date of such regulations ; and any copy published as aforesaid shall be evidence thereof. 11 . Every agent, officer, clerk or servant employed under this Act, who may be entrusted with and have the custody of any moneys or valuable securities, shall, before entering upon his duties, give such security for the faithful discharge of the same, and for the due accounting for all such moneys, as shall be required of him by the Treasury Board ; and shall also take an oath or affirmation before a justice of the peace, faithfully to perform his said duties ; which oath or affirmation any justice of the peace is hereby authorized to administer, and which shall be in the following form, or in words to the same effect : — “ I (A. B.), of , being duly sworn, swear (or do “ solemly affirm) that so long as I shall be employed in assisting to “ carry out the provisions of the Act Victoria, Cap, (( , I will perform faithfully and to the best of my “ ability the duties that may be assigned to me. “ And Government Savings Banks. Cap 6. 49 “ And I have signed, “Sworn at , this day of , “ 18 , before me, A. B., ^‘Justice of the Peace for the ( ') of 12 » If any agent appointed to receive deposits as aforesaid, or Punishment any officer, clerk, or servant employed under the provisions of this £!',^Sring Act, defaces, alters, erases, or in any manner or way whatsoever ®utries, changes the effect of the books of account that may be kept under mone 7 ,^ifec. the provisions of this Act, or any entry in the said books of account for any fraudulent purpose ; or if any such agent, officer, clerJr, or servant secretes, appropriates, or embezzles any bond, obligation, bill or note, or any security for money, or any moneys or effects, entrusted to him, or in his custody, or to which he has obtained' access as such agent, officer, clerk, or servant, to whomsoever the said property may belong, the person so offending is guilty of felony, and on conviction thereof shall be liable to be punished by imprison- ment for any term not less than two years in the Provincial Peniten- tiary, or by imprisonment in any other gaol or place of confinement for anytime less than two years, in the discretion of the Court before whom ho may be convicted ; Provided always, that nothing herein Proviso ; contained, nor the conviction or punishment of the offender, shall remedies not prevent, lessen, or impair any remedy which Her Majesty or the affected. Peceivor General or any other person or party may have against ;such ofiender or his sureties, or against any other person or party whatsoever. X3« Any person who falsely pretends to be the owner of any Punishment deposit made under this Act, or of the interest upon such deposit, or of any part or portion ot such deposit or interest, and, not being falsely to bo such owner, with intent to defraud, demands or claims from the SepoTus”^ agent with whom such deposit has been made, or from any other party employed under this Act, the payment of such deposit or interest, or of any portion thereof, as the case may be, and whether he does or does not thereby obtain any part of such deposit or inter- est, is guilty of a misdemeanor, and shall on conviction be punishable accordingly ; Provided, that any offender against the provisions of Proviso, this or the next preceding section may be indicted and punished either under this Act or the Act respecting larceny and other similar offences, if his offence be one punishable under that Act, but he shall not be more than once punished for the same offence. 14. The Governor may appoint, and from time to time remove. Inspectors an inspector or inspectors, to investigate and report upon the busi- ness which may arise in carrying out the provisions of thii? Act, to appointed. ^ whom 50 Their duties. Savings Banks in Nova Scotia and New Brunswick to be subject to this Act. St. John’s Savings Bank New Brunswick. As to deposits in N. B., and N. S. untouched since 1st July, 1867. Assistant Receiver General may be appointed and Savings Banks 1871. Government Savings Banks. Cap. 6. whom the agents appointed to receive deposits and all others who may he employed under this Act shall be hound to alford all needful facilities for such inspection and investigation ; and the duties and powers of such inspectors shall be such as shall be assigned to them by the regulations to be made under the tenth section of this Act. 15 . From and after the passing of this Act, the Savings Banks established in the Province of New Brunswick under an Act passed by the Legislature of that Province in the tenth year of Her Majesty’s reign, and intituled An Act relating to Banks for Savings,” or under an Act passed by the said Legislature in the twenty-fourth year of Her Majesty’s reign, and intituled “An Act relating to Savings Banks,” and the Savings Bank in the Province of Nova Scotia estab- lished under the Act chapter thirty-nine of the Kevised Statutes of that Province, intituled “ Of the Treasury Notes, the Savings Bank and Provincial Loanf shall be subject to the provisions of this Act, in the same manner as if they had been first established as Savings Banks under and by virtue of this Act. 16 . The St. John’s Savings Bank (New Brunswick), established under Acts of the Legislature of that Province, shall be and shall be held to have been since the 1st of July, 1867, a Government Savings Bank, under the control of the Governor in Council, and the pro- perty, assets and liabilities thereof to have been then transferred to and assumed by the Dominion, subject always to a proper allowance for any surplus or deficiency of such property and assets, as com- pared with such liabilities, in the settlement of the accounts between the Dominion and the said Province.* IT. The capital represented by deposits in the Savings Banks in Nova Scotia and New Brunswick, in deposit accounts as to which there have been no deposits or withdrawals since 1st July, 1867, shall not be charged against those Provinces respectively as. part of the debt with which they entered the Union, but all such accounts shall be transferred to a Suspense Ledger, and if hereafter any deposit or withdrawal be made in any such account, it shall be removed from the Suspense Ledger, and the capital represented by such account and the interest accrued since 1st July, 1867, shall be charged against Nova Scotia or New Brunswick, as the case may be. 18 . The Governor may, if he shall deem it expedient, appoint an Assistant Receiver General at the city of Toronto and at the city of Montreal, or at either of them, or at any place in the Province of Manitoba, or in, any other province which may hereafter form part of ^Amended by 36 Vict.,- and that for the expression capital verse , — in the second line of the said section as printed in French by the Queen’s Printer, the expression capital souscrit ought to have been and is hereby substituted, and the said section and Act, shall have effect as if such substitution had been made at the time of the passing of said Act. CHAP. 72. An Act to amend the Act respecting certain Savings Banks in the Provinces of Ontario and Quebec. [Assented^ to 2Ard May, 1873.] I N amendment of the Act passed in the thirty-fourth year of Her preamble. Majesty’s reign, and intituled “Aw Act respecting certain Savings 34 Vio.,c. r. Banks in the Provinces of Ontario and Quebec,” Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : — 1 . ii to Chap, 72. Certain Savings Banks. 36 Tiot. Sections 6, 9, 37, 18 and 23 amended as to investment of stock and deposits. Proviso. Monthly returns by the Bank to the Government. Eorm thereof. 1 . So much of the sixth, ninth, seventeenth, eighteenth or twenty- third sections, or of any other part of the said Act, as requires that the capital stock or any part of the capital stock of a Savings Bank to which the Act applies, shall he or remain invested in Dominion stock or other Dominion securities, or securities of any of the Pro- vinces of the Dominion, or as provides that beyond the amount of its subscribed capital stock a Savings Bank to which the Act applies shall make no investment of moneys deposited therewith, except only in the debentures or Dominion stock therein mentioned, or as empowers the Receiver Gleneral to issue to any such Bank Dominion stock bearing interest at a rate greater by one per cent, per annum than that which at the time of such investment the Bank is directed by the Governor in Council to pay to depositors, is hereby repealed, except only as respects such last mentioned Dominion stock issued before the passing of this Act; and it shall be lawful for any such Savings Bank to invest or loan any amount whatever of the moneys deposited with it or of its capital stock, in any manner in which it may, under the provisions of the eighteenth section of the said Act, invest or loan any amount of the moneys deposited with it : Provided always, that every such Savings Bank shall always hold at least twenty per cent, of the moneys deposited with it in Dominion securities or deposits in Chartered Banks, on call. 2. Monthly returns shall be made, by every Bank to which the said Act applies, to the Government, and shall be made up within the first ten days of each month, and shall exhibit the condition of the Bank on the last juridical day of the month next preceding ; and such monthly returns shall be signed by the President or Vice- President, or the Director then acting as President, and by the Manager, Cashier or other principal officer of ’the Bank at its seat of business, and shall be published in the Canada Gazette ; and such monthly returns shall be in the following form, and shall be instead of any periodical returns (if any) required by the charter of the Bank, except tdie certified lists of stockholders ; and the first of such monthly returns under this Act shall be made within the first ten days of the month of July in the present year, 1873 : — Return of the amount of Liabilities and Assets of the (name of the Bank) on the day of , A.D. 18 Capital Stock, $ . Capital Paid-up, $ LIABILITIES. $ cts. 1. Dominion Government deposits, payable on demand.. 2. Provincial Government deposits, payable on demand . 3 . 1873. Certain Savings Banks. Chap. 72. $ cts. 7i 3. Other deposits, payable on demand 4. Dominion Grovernment deposits, payable after notice or on a fixed day 5. Provincial Government deposits, payable after notice or on a fixed day 6. Other deposits, payable after notice or on a fixed day. 7. Special Poor Fund or Charity Fund Trust. 8. Liabilities not included under the foregoing heads — ASSETS. 1. Dominion securities 2. Provincial or municipal securities 3. Loans for which Dominion or Provincial securities are held as collateral security 4. Loans for which Bank stocks are held as collateral security 5. Loans for which other stocks, bonds or debentures, as authorized by law, are held as collateral security. 6. Cash in hand or in deposit on call in Chartered Banks. 7. Special Poor Fund or Charity Fund investments 8. Investments in Bank stock made previous to the incorporation of the Bank 9. Other assets not included under the foregoing heads. . cts. We declare that the foregoing return is made up from the books of the Bank, and that it is correct, to the best of our knowledge and belief. (Place) this day of , 18 . A. B., President, &c. C. D., Cashier, &c. 3 . The principal of the Poor Fund of the City and District Savings Bank of Montreal, under the third sub-section of section five of the said Act, which has been ascertained and settled at one hundred and eighty thousand dollars, shall be invested and held by the said Bank in debentures of the city of Montreal, with power to change the investment of the same or of any part thereof, from time to time, with the approval and permission of the Treasury Board, but not otherwise. 4 . The principal of the Charity Fund of La Caisse d’Bconomie de Notre Lame de Quebec, under the said sub-section of section twenty-five of the said Act, which has been ascertained and settled at Poor Fund at Montreal. Charity Fund at Quebec. 72 Chap. 72, 71. 36 Yict. Sect. 37 re- pealed. Preamble. Interest, where no rate is fixed. When secured on land, &o. When only on personalty or personal security. In action on contract, de- fendant may have interest reduced to legal rate. Exception as to bottomry bonds. Eepeal. Interest in Nova Scotia, 8fC. at eighty-three thousand dollars, shall he invested and held by the said Bank in debentures of the city of Quebec, with power to change the investment of the same or of any part thereof, from time to time, with the approval and jDermission of the Treasury Board, but not otherwise. , 5. Section thirty-seven of the said Act is hereby repealed. CHAR 71. An Act respecting Interest and Usury in the Province of Nova Scotia. [_Assented to 2S>rdi May, 1873 .] H EE Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : — 1 . In the Province of Nova Scotia in all cases where interest is or may be chargeable or recoverable by law or by any contract express or implied, and the rate of interest shall not have been agreed upon m writing as hereinafter provided, such rate shall be six per cent, per annum. !9. Any person may nevertheless stipulate and agree in writing for any rate of interest not exceeding seven per cent, per annum, for the loan or forbearance of money to be secured on real estate or chattels real : Any person may also stipulate in writing for or may receive in advance any rate of interest not exceeding ten per cent, per annum, where the security for the payment of the money con- sists only of personal property or the personal responsibility of the party to whom forbearance is given or others. 3* In any action brought on any contract whatsoever, in which there is directly or indirectly taken or reserved a rate of interest exceeding that authorized in the second section of this Act, the defendant may, the same being duly pleaded as in other cases, prove such excessive interest, and it shall be deducted from the amount due on such contract. 4. The foregoing provisions shall not extend to any hypotheca- tion or agreement in writing entered into for money advanced upom the bottom of a ship or vessel, her cargo or freight. 5* Sections one, three and six, of chapter eighty-two of the Eevised Statutes of Nova Scotia, second series, intituled “ Of Interest," 73 1873, 1875. Interest and Usury in N. B., Sfc. Chaps. 71,18. Interest,'* continued in force in the Appendix to the Revised Statutes of Nova Scotia, third series, page 711, are hereby repealed, except as provided in the next following section, with respect to the cases therein mentioned. 6 . Nothing in this Act shall extend to or be construed to extend Act not to ^ . -I. •% n J^ • ly • \ u. extend to to contracts or securities entered into before the passing of this Act, existing Con- or to legalize any previous contract, security or loan, made, entered tracts, &c. into, given or taken before the passing of this Act ; but all such con- tracts, securities or loans shall be construed, considered and dealt with, as well in civil suits as in proceedings for penalties, as if this Act had not been passed ; and for all such cases the said chapter eighty-two of the second series of the Revised Statutes of Nova to them. Scotia, intituled “ Of Interest," shall be considered in force and unrepealed. '7. Nothing in this Act shall extend or be construed to extend or Act not to ® 1 extend to apply to or affect any Chartered Bank. banks. CHAP. 18. An Act relatiag to Interest and Usury in the Province of New Brunswick. [Assented to 8th April, 1875] W HEREAS it is expedient to repeal a portion of the laws at Preamble. present in force in the Province of New Brunswick relating to usury ; Therefore Her Majesty, by and with the advice and con- sent of the Senate and House of Commons of Canada, enacts as follows : — 1 . From and after the passing of this Act, any person or persons Any rate may stipulate for, allow and exact on any contract or agieement whatsoever made or to be performed in the Province of New lawful. Brunswick, any rate of interest or discount which may be agreed upon. 2 . None of the provisions of this Act shall apply to any bank or incorporated company, but all laws at present in force in the said Province relating to interest or usury shall remain in full force in relation to all transactions of such banks or incorporated com- panies. 3 . 38, 31 ViCT. 74 Existing rights saved. Inconsistent laws repealed. Preamble. Ihities im- posed on Notes Drafts and Bills. The Duties. Chaps, 18, 9. Promissory Notes, Sfc. S. Nothing herein contained shall prejudice or affect the rights or remedies of any person, or diminish or alter the liabilities of any person, in respect to any act done hefote the passing of this Act. 4o All Acts and parts of Acts of the General Assembly of the Province of New Brunswick inconsistent with the provisions of this Act are kerehy repealed. CAP. IX. An Act to impose duties on Promissory Notes and Bills of Exchange.* [Assented to 21st Pecemher, 1867.] H EE Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : 1 . Upon and in respect of every Promissory Note, Draft or Bill of Exchange, for an amount not less than twenty-five dollars, made, drawn or accepted in Canada, upon or after the first day of February, in the year one thousand eight hundred and sixty-eight, there shall be levied, collected and paid to Her Majesty, for the public uses of the Dominion, the duties hereinafter mentioned, that is to say : — On each such Promissory Note, and on each such Draft or Bill of Exchange, a duty of one cent, if such Note, Biil or Draft, amounts to but does not exceed twenty-five dollars j — a duty of two cents if the amount thereof exceeds twenty-five dol- lars but does not exceed fifty dollars, — and a duty of three cents if the amount thereof exceeds fifty dollars but is less than one hundred dollars. On each such Promissory Note, and on each such Draft or Bill of Exchange, for one hundred dollars or more, executed singly, a duty of three cents, for the first hundred dollars of the amount thereof, and a further duty of three cents for each additional hundred dollars or fraction of a hundred dollars of the amount thereof ; On each such Draft or Bill of Exchange executed in duplicate, a duty of two cents on each part for the first hundred dollars of the amount thereof, and aDurther dutj^ of two cents for each additional * Amended by 33 Vic., cap. 13, (p. 80), and again by 37 Vic., cap. 47. (p. 83). I 1867. Promissory Notes, Sfc. Cap. 9. additional hundred dollars or fraction of a hundred dollars of the amount thereof ; On each such Draft or Bill of Exchange executed in more than two parts, a duty of one cent on each part for the first hundred dollars of the amount thereof, and a further duty of one cent for each additional hundred dollars or fraction of a hundred dollars of the amount thereof ; And any interest made payable at the maturity of any Bill, Draft or Note, with the principal sum,, shall be -counted us part of the amount thereof. ih 2 . Every hill, draft, order or instrument, — What shall be deemed instru- For the payment of any sum of money by a bill or promissory m^ents liable to note, whether such payment be required to be made' to the bearer or to order, — Every document usually termed a letter of credit, or whereby any person is entitled to have credit with, or to receive from or draw upon any person for any sum of money, — And every receipt for money, given by any bank or person, and entitling the person paying such money, or the bearer of such receipt, to receive the like sum from any third person, — Shall be deemed a bill of exchange or draft chargeable with duty under this Act. 3* Every bill of exchange, draft or order drawn by any otficer of Exemptions Her Majesty’s Commissariat, or by any other ofl&cer in Her Majesty’s Imperial or Provincial Service, in his official capacity, or any acceptance or endorsement by such officer on a bill of exchange drawn out of Canada, or any draft of or on any Bank payable to the order of any such officer in his official capacitv as aforesaid, or any note payable on demand to bearer issued by any Chartered Bank in Canada, or by any Bank isstiing such note under the Act, chapter fifty-five of the Consolidated Statutes of the late Province of Canada, intituled : An Act respecting Banks and freedom of Banking, shall be free from duty under this Act, — and Any cheque upon any Chartered Bank or Licensed Banker, or on any Savings Bank, if the same shall be payable on demand, — Any post office money order, or order on any post office Savings Bank, — and Any municipal debenture or coupon of such debenture, -—shall be free of duty under this Act. 4 . 31 ViCT. 76 How the duties shall he paid. Stamped paper. Adhesive stamps. Provision for cancelling ad- hesive stamps. Or date to he written on Stamp. Penalty for non-com- pliance with this Act. Avoidance of Instrument. Stamped naper may he prepared and used. Or adhesive Stamps. Cap. 9. Promissory Notes, 8fC. 4 . The duty on any such Promissory Note, Draft, Bill of Exchange, or part thereof, shall he paid by making it upon paper stamped in the manner hereinafter provided, to the amount of such duty, — or By affixing thereto an adhesive stamp or adhesive stamps of the kind hereinafter mentioned, to the amount of such duty, upon which the signature or part of the signature of the maker or drawer, oi in the case of a Draft or Bill made or drawn out of Canada of the acceptor or first endorser in Canada, or liis initials, or some integral or material part of the instrument shall be written, so as (as far as may be practicable) to identify each stamp with the instrument to which it is attached, and to show that it has not before been used, and to prevent its being thereafter used for any other instru- ment, — or The person affixing such adhesive stamp, shall, at the time of affixing the same, write or stamp thereon the date at which it is affixed, and such stamp shall be heldi primd fade to have been affixed at the date stamped or written thereon ; And if no integral or material part of the instrument, nor any part of the signature of the maker, drawer, acceptor or first indorser in Canada be written thereon, nor any date be so stamped or wiutten thereon, or if the date do not agree with that of the instrument, sueh adhesive stamp shall be of no avail ; and any person wilfully writing or stamping a false date on any adhesive stamp shall incur a penalty of one hundred dollars for each such offence. 5 . The Governor in Council may from time to time direct stamped paper to be prepared for the purposes of this Aet, of such kinds and bearing respectively such device as he thinks proper, and may defray the cost thereof out of any unappropriated monies form- ing part of the Consolidated Revenue Fund ; but the device on each stamp shall express the value thereof, that is to say, the sum at which it shall be reckoned in payment of the duties imposed by this Act. 6 . The Governor in Council may from time to time direct stamps to be prepared for the purposes of this Act, of such kinds and bear- ing respectively such device as he thinks proper, and may defray the cost thereof out of any unappropriated monies forming part of the Consolidated Revenue Fund ; but the device on each stamp shall express the value thereof, that is to say, the sum at which it shall be reckoned in payment of the duties hereby imposed. 1867. Cap. 9. 77 Promissory Notes, 8fc. T. Provided, that as regards any Promissory Note, Draft or Bill of Exchange on which the duty is payable in Nova Scotia, the Scotia, amount on which the duty is payable under this Act, and the amount of such duty, shall be reckoned ki the currency of that Province, and the stamped paper and stamps to be used there shall be marked accordingly, and shall not be used in any other part of Canada. S. The Minister of Inland Eevenue may appoint any Postmasters, Sale and diV Collectors of Inland Eevenue, or other officers of the Grovernment, stampg°Ld to be the distributors of stamps and stamped paper, under this Act, stamped paper and may authorize any other person to purchase stamps from such distributors to sell again ; — and the Governor in Council may fix the remuneration to be allowed to such distributors, and the discount to be made to persons so purchasing to sell again ; but such discount shall in no case exceed five per cent, on the value of such stamps, and shall not be allowed on any quantity less than one hundred dollars worth. 9. The Governor in Council may make such further regulations Governor in as he may deem necessary for carrying this Act into effect, and may make further by any order in Council declare that any kind or class of instru- ments as to which doubts may arise, are or are not chargeable with for doubtful any and what duty under this Act according to the true meaning thereof; and any order in Council made under this Act may be explained, amended or repealed by any other such order of later date ; and any order in Council under this Act shall be published, and may be proved in the manner provided by the Act respecting the Customs as to orders in Council under that Act. 10. The stamp or stamps required to pay the duty hereby By whom the imposed shall in the case of any Promissory Note, Draft or Bill of beTlxeci.^ Exchange made or drawn within Canada, and not made upon paper stamped to the amount of the duty, be affixed by the maker or drawer thereof, and in the case of any Draft or Bill of Exchange drawn out of Canada, by the acceptor thereof or the first indorser thereof in Canada ; and such maker or drawer, acceptor or first indorser, ^nd failing to affix such stamp or stamps at the time of making, drawing, duty doubled, accepting or indorsing such Note, Draft or Bill, or affixing stamps of insufficient amount shall thereby incur a penalty hereinafter imposed, and the duty payable on such instrument, or the duty by which the stamps affixed fall short of the proper amount, shall be doubled ; stamps upon the paper being deemed to be affixed thereto for all the purposes of this Act ; and any deficiency in the amount of the stamp on the paper may be made up by adhesive stamps. U. \ I 78- Penalty for not affixing the proper stamps. Exception in favor of subse- quent parties ; double duty to be paid. Presumption in suits for penalties. Provision in favor of inno- cent parties. Holder may pay duty without becoming a party. Cap. 9. Promissory Notes, SfC. 31 YlCT. 11 . *If any person in Canada makes, draws, accepts, indorses, signs, becomes a party to or jjays any promissory note, draft, or bill of exchange, chargeable with duty under this Act, before the duty (or double duty as the case may" be) has been paid by afl&xing thereto the proper stamp or stamps, such person shall thereby incur a penalty of one hundred dollars, and save only in case of the pay- ment of double duty as hereinafter mentioned, sueh instrument shall be invalid and of no effect in law or in equity, and the acceptance, or payment or protest thereof shall be of no effect ; except that any subsequent party to such instrument or person paying the same, may at the time of his so paying or becoming a party thereto, pay such double duty by affixing to such instrument a stamp or stamps to the amount thereof, or to the amount of double the sum by which the stamps affixed fall short of the proper duty, and by writing his signature or part thereof, or his initials or the proper date, on such stamp or stamps, in the manner and for the purposes mentioned in the fourth section of this Act; and such instrument shall hereby become valid, but no prior party who ought to have paid the duty thereon shall be released from the penalty by him incurred as afore- said; and in suing for any such j^enalty, the fact that no jDart of the signature of the party charged with neglecting to affix the proper stamp or stamps is written over the stamp or stamps affixed to any instrument, or that no date, or a date that does not correspond with the time when the duty ought to have been paid, is written or marked on the stamp or stamps, shall be primd facie evidence that such party did not affix it or them as required by this Act. 12 . *bIo party to or holder of any Promissory Note, Draft, or Bill of Exchange, shall incur any penalty by reason of the duty thereon not having been paid at the proper time and by the proper party or parties, provided that at the time it came into his hands it had affixed to it stamps to the amount of the duty apparently pay- able uj)on it, that he had no knowledge that thej^- were not affixed at the proper time and by the proper party or parties, and that he pays the double duty or additional duty as soon as he acquires such know- ledge, — and any holder of such instrument may pay the duty thereon, and give it validity, under section eleven of this Act, without becom- ing a party thereto ; — in this section the word “ duty ” includes any double or additional duty payable under the said section eleven. 13 . •These sections (11 and 12) are repealed, and others substituted therefor by 33 Viet., cap. 13 (see p. 80). Section 12, so substituted, is again repealed, and another section enacted in its stead by 37 Vict., cap. 47, sec. 3 (see p. 83). 1867. Cap. 9. 79 Promissory Notes, Sfc. 13. If any person wilfully affixes to any promissory note, draft Penalty for or bill of exchange, any stamp which has been previously affixed to any other, or used for the purpose of paying any duty under this already use,!. Aet or any other Act, or which has been in any way previously written upon or defaced, such person shall be guilty of a misde- meanor, and shall thereby incur a penalty of five hundred dollars. 14 . The penalties hereinbefore imposed shall be incurred in Penalty m- , . ir. i.nr. 1 curred on each respect oi each such promissory note, draft or bill of exchange, on instrument, which the duty or double dutv hereby imposed is not paid as afore- t^^o^gh several ^ j L j. made on the said, or to which a stamp previously used has been fraudulently same day, Ac. affixed, whatever be the number of such instruments executed, accepted, paid or delivered, or offences committed on the same day ; and a separate penalty to the full amount shall be incurred by each person committing such offence, whatever be the number of such persons. 15 . The penalties imposed by the foregoing sections of this Act, Recovery of shall be recoverable in the manner prescribed by the Interpretation Act in cases where penalties are imposed and the recovery is not otherwise provided for. 16 . If any person forges, counterfeits or imitates or procures to be forged, counterfeited or imitated, any stamp or stamped paper, issued or authorized to be used for the purposes of this Act, or by means whereof any duty hereby imposed may be paid, or any part or portion of any such stamp, — or knowingly uses, offers, sells or exposes to sale, any such forged, counterfeited or imitated stamp, — or engraves, cuts, sinks or makes any plate, die or other thing whereby to make or imitate such stamp or any part or portion thereof, excej)t by permission of the Minister of Inland Revenue, or some officer or person who, under an Order in Council in that behalf, may lawfully grant such permission — or has possession of any such plate, die or other thing, without such permission, — or without such permission, uses or has possession of any such plate, die or thing lawfully engraved, cut or made, — or tears off or. removes from any instrument, on which a duty is payable under this Act, any stamp by which such duty has been wholly or in part paid, — or removes from any such stamp any writing or mark indi- dating that it has been used for or towards the payment of any such duty, — such person shall be guilty of felony, and shall on conviction be liable to be imprisoned in the Penitentiary for any term not exceeding twenty-one years ; and every such offence in the Province of Quebec or in the Province of Ontario, shall be forgery within the meaning and purview of chapter ninety-four of the Consolidated Statutes Punishment for forging stamps, or making or having instruments for for” in Offence to be within the lands relative to forgery. 80 31,33 ViOT. Duties to be within the Revenue Act. No duty under certain Cana- dian Acts, on notes, &o. made, &c., on or after 1st February, 1868. Acts to apply to notes, &o. made before that day. Cap. 9, 13. Promissory Notes, 8fC. Statutes of Canada, intituled An Act respecting Forgery, and all the provisions of that Act shall apply to every such otfence, and to prin- cipals in the second degree and accessories, as if such offence were expressly mentioned in the said Act, and in any other of the 1 ro- vinces composing the Dominion of Canada every such offence shall he forgery and punishable in the manner in which that crime is punishable by the laws of the Province in which the offence is committed. IT. The duties imposed by this Act shall be duties within the meaning and purview of the Act passed in the jiresent Session inti- tuled An Act respecting the Collection and Management of the Fevenue, the Auditing of Public Accounts, and the Liability of Public Accountants, and the proceeds of the said duties shall form part of the Consoli- dated Revenue Fund of this Province. IS. No duty shall he payable under the Act of the Legislature of the late Province of Canada, passed in the Session held in the twenty-seventh and twenty-eighth years of Her Majesty’s reign, chapter four, or under the Act of the said Legislature, passed in the twenty-ninth year of Her Majesty’s reign, chapter four, on any pro- missory note, draft or hill of exchange made, drawn or accepted, upon or after the said first day of February, one thousand eight hundred and sixty-eight, hut to all promissory notes, drafts or hills of exchange made, drawn or accepted in the late Province of Canada, or in the Provinces of Quebec or Ontario, before the said day, and to all offences committed and penalties incmued in respect thereof, the said Acts shall continue to apply. CAP. XIII. An Act to amend the Act imposing Duties on Promissory Notes and Bills of Exchange.* Preamble. \_Assented to 12th May, 1870.] W HEREAS, it, is expedient to repeal Sections Eleven and Twelve of the Act passed in the thirty-first year of Her Majesty s reign, chapter nine ; Therefore Her Majesty, by and with the advice and’ consent of the Senate and House of Commons of Canada, enacts as follows : — - ♦Amended by 37 Viet., cap. 47, (page 83.) 1870. Promissory Notes, 8fc. Cap. 13. 1 . The said sections are hereby repealed, and the following sections substituted therefor : “ 11 - If any person in Canada makes, draws, accepts, indorses, signs, becomes a party to, or pays any Promissory JSTote, Draft, or Bill of Exchange, chargeable with duty under this Act, before the duty (or double duty, as the case may be) has been paid, by afl&xing thereto the proper stamp or stamps, such person shall thereby incur a penalty of one hundred dollars, and, save only in the case of pay- ment of double duty, as in the next section provided, such instrument shall be invalid and of no effect in law or in equity, and the accept- ance, or payment, or protest thereof, shall be of no effect ; and in suing for any such penalty, the fact that no part of the signature of the party charged with neglecting to affix the proper stamp or stamps, is written over the stamp or stamps affixed to any such instrument, or that no date, or a date that does not correspond with the time when the duty ought to have been paid, is written or marked on the stamp or stamps, shall be primd facie evidence that such party did not affix it or them, as required by this Act : But no party to, or holder of any such instrument, shall incur any penalty by reason of the duty thereon not having been paid at the proper time, and by the proper party or parties, provided at the time it came into his hands it had affixed to it stamps to the amount of the duty apparently payable upon it, that he had no knowledge that they were not affixed at the proper time and by the proper party or parties, and that he pays the double or additional duty as in the next section provided, as soon as he acquires such knowledge.” ‘‘ 12. *Any subsequent party to such instrument, or person pay- ing the same, or any holder without becoming a party thereto, may pay double duty by affixing to such instrument a stamp or stamps to the amount thereof, or to the amount of double the sum by which the stamps affixed fall short of the proper duty, and by writing his signature, or part thereof, or his initials, or the proper date, on such stamp or stamps, in the manner and for the purposes mentioned in the Fourth Section of this Act ; and when upon the trial of any issue, or on any legal inquiry, the validity of any Promissory Note, Draft or Bill of Exchange is questioned by reason of the proper duty thereon not having been paid, or not having been paid by the proper party, or at the proper time, and it appears that the holder thereof, when he became holder, had no knowledge that the proper duty had not been paid by the proper party, or at the proper time, such instru- ment *Repeale(J, and another section substituted therefor by 37 Viet., cap. 47, sec. 2 (see p. 83), 81 Sections 11 and 12 repealed Penalty for not affixing the proper stamps at the proper time. Presumption in suits for penalty. Exception in favor of inno- cent parties. Conditions on which an innocent party shall become exempt from penalty or forfeiture. 6 82 33, 35 Yict. If part of the duty was not paid through inadvertence, &c. Pending suits excepted. Preamble. When such Notes shall mature. Caps. 13, 10. Promissory Notes, 8fc. ment shall, nevertheless, be held to be legal and valid, if it shall appear that the holder thereof paid double duty as in this section mentioned, so soon as such holder acquired such knowledge, or if the holder thereof, acquiring such knowledge at the trial or inquiry, do thereupon forthwith pay such double duty ; or if the validity of such Promissory Note, Draft or Bill of Exchange is questioned by reason of a part only of the requisite duty thereon having been paid at the proper time or by the proper party, and it appears to the satisfaction of the Court or Judge, as the case may be, that it was through mere inadvertence or mistake, and without any intention to violate the law on the part of the holder, that the whole amount of duty, or double duty, as the case may be, was not paid at the proper time, or by the proper party, such instrument, and any endorsement or transfer thereof, shall, nevertheless, be held legal and valid, if the holder shall, before action brought, have paid double duty thereon, as in this section mentioned, as soon as he reasonably could, after having became aware of such error* or mistake ; but no party, who ought to have paid duty thereon, shall be released from the penalty by him incurred as aforesaid.” 2 . This Act shall not apply to any suit pending when it comes into force. CAP. X. An Act relating to Bills of Exchange and Promissory Notes. [Assented to June, 18*72. W HEREAS doubts exist as to the time of the maturity of a Bill of Exchange or Promissory Note payable at a month or months after date, and it is desirable to set such doubts at rest : Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada declares and enacts as follows : — 1 . Every Bill of Exchange or Promissory Note which is made payable at a month, or months, from and after the date thereof, becomes due and payable on the same numbered day of the month in which it is made payable, as the day on which it is dated, unless there is no such day in the month in which it is made payable, and in such case it becomes due and payable on the last day of that month, with the addition in all cases of the days of grace allowed by law. CHAP. 18Y4. Bills and Notes. 83 Chap. 47. CHAP. 47. An Act to amend the Law relating to Bills of Exchange and Promissory Notes, and the Stamps thereon. [^Assented to 26tt May, 1874, W HEREAS it is desirable that the law relating to Bills of Exchange and Promissory Notes should be amended in the particulars in this Act mentioned : Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : — Preamble. 1 . Notice of the protest or dishonor of any bill of exchange or Notice of pro- promissory note payable in Canada, shall be sufficiently given, if jfin’otnhe^ addressed, in due time, to any party to such bill or note, entitled to when held to such notice, at the place at which such bill or note is dated unless any such party has, under his signature, on such bill or note, designated another place, when such notice shall be sufficiently given, if addressed to him, in due time, at such other place ; and such notice so addressed shall be sufficient, although the place of residence of such party be other than either of such before men- tioned places. 2. Section twelve substituted by the Act passed in the thirty- Section 12 of third year of Her Majesty’s reign, chapter thirteen, for section repealed, twelve of the Act passed in the thirty-first year of Her Majesty’s reign, chapter nine, shall be and is hereby repealed, and the follow- ing section is substituted for the said section so repealed : — ‘‘12. Any holder of such instrument may pay double duty by New section affixing to such instrument a stamp or stamps to the amount thereof, or to the amount of double the sum by which the stamps afiBxed JXTr of un- fall short of the proper duty, and by writing his initials on such stamped or , 1 1 1 f 1 . 1 ,, . insufficiently stamp or stamps, and the date on which they were affixed ; and where stamped note, in any suit or proceeding in law or equity, the validity of any such ^°yaUd^by^^* instrument is questioned by reason of the proper duty thereon not payment of having been paid at all, or not paid by the proper party, or at the proper time, or of any formality as to the date or erasure of the stamps affixed having been omitted, or a wrong date placed there- on, and it appears that the holder thereof, when he became such holder, had no knowledge of such defects, such instrument shall be' held to be legal and valid, if it shall appear that the holder thereof paid double duty, as in this section mentioned, so soon as he acquired such knowledge, even although such knowledge shall have been ac- quired only during such suit or proceeding ; and if it shall appear in 84 Chap. 47. Bills and Notes. 37 ViCT. in any such suit or proceeding to the satisfaction of the court or judge, as the case may be, that it was through mere error or mis- take, and without any intention to violate the law on the part of the holder, that any such defect as aforesaid existed in relation to such instrument, then such instrument, or any endorsement or transfer thereof, shall be held legal and valid, if the holder shall pay the double duty thereon as soon as he is aware of such error or mis- take ; but no party who ought to have paid duty thereon shall be released from the penalty by him incurred as aforesaid.” Penalty and 3, Notwithstanding anything in the Acts before mentioned or bank or broker in this Act, from and after the first day of August next, after the Sg^or^taSng ®f this Act, any bank or any broker who makes, draws or &o., note not issues or negotiates, presents for payment, or pays, or takes, or after receives, or becomes the holder of any instrument not duly stamped, 1874. either as a deposit, or in payment, or as a security, or for collection or otherwise, knowing the same not to be duly stamped, and who does not immediately on making, drawing, issuing, negotiating or pre- senting for payment, or paying, or taking or receiving, or becoming the holder of such instrument, afl&x thereto and cancel the proper stamps within the meaning of the Act thirty-first Tictoria, chapter nine, shall incur a penalty of five hundred dollars for every such offence ; and shall not be entitled to recover on such instrument, or to make the same available for any purpose whatever, and any such instrument shall be invalid and of no effect in law or equity. No Dotainion stamps re- quired on bill of exchange drawn and payable out- side the Dominion. 4. Notwithstanding anything in the Acts before mentioned or in this Act contained, no bill of exchange drawn and payable outside of the Dominion of Canada shall be invalid, nor shall the maker or any owner or holder of any such bill be subject to any penalty in consequence of no stamp or stamps of this Dominion being affixed to such bill. Interpreta- tion. 5. In this Act the word “ Bank” means and includes any char- tered bank, and any banking institution, and any branch or agency thereof. The word ‘‘Broker ” means and includes any broker or person by ^repute doing the business of brokerage. The word “ Instrument ” means and includes any promissory note, bill of exf'hange, or part thereof, draft or order, upon which a duty is payable tinder the Act thirty-first Victoria, chapter nine. « 6 . This Act shall only go into force from and after the first day Commence- */ o ment of Act. of August next, CHAP. 1875. Bills and Notes. Chap. 19. 85 CHAP. 19. An Act to amend the Law relating to Bills of Exchange. [Assented to 8th April, 1875.] W HEREAS it is desirable that the law relating to damages on Bills of Exchange shall be uniform throughout the Dominion ; Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows : — • 1 . From and after the first day of July next after the passing of this Act, no damages shall be recoverable in any action, suit or pro- ceeding, either at law or in equity, brought in any Province of the Dominion, upon any Bill of Exchange, drawn upon any person at any place in the Dominion or in the Island of Newfoundland against any party thereto, except for the amount for which such Bill of Exchange is drawn, and for such further amounts as arise from the noting and protest of such Bill of Exchange, and interest thereon, and exchange and re-exchange thereon. S. From and after the first day of July next after the passing of this Act, no damages shall be recoverable in any action, suit or pro- ceeding, either at law or in equity, brought in any Province of the Dominion, upon any Bill of Exchange drawn upon any person at any place not being in the Dominion nor in the Island of Newfound- land against any party thereto, except for the amount for which such Bill of Exchange is drawn and for two and one-half per cent, thereon, and for such further amounts as arise from the noting and protest of such Bill of Exchange and interest thereon, and exchange and re-exchange thereon. S. This Act shall not apply to any suit or action pending when it comes into force. Preamble. No damages on bills pay- able in Canada or Newfound- land. Damages on bills payable elsewhere limited. Pending suits excepted. CRIMINAL 86 Cap. 19. Forgery. 32-83 ViCT. CRIMINAL LAW. Extracts from an Act respecting Forgery, 32 and 33 Tict. (1869), Cap. 19. As to forging hank notes. Whosoever forges, or alters, or offers, utters, disposes of, or Ac, ' ^ P^ts off, knowing the same to be forged or altered, any note or bill of exchange of any body corporate, company or person carrying on the business of bankers, commonly called a bank note, a bank bill of exchange, or a bank post bill, or any endorsement on*or assignment of any bank note, bank bill of exchange, or bank post bill, with intent to defraud, is guilty of felony, and shall bo liable to be impri- soned in the Penitentiary for life, or for any term not less than two years, or to be imprisoned in any other gaol or place of confinement for any term less than two years, with or without hard labor, and with or wilshout solitary confinement. Purchasing or 16 . Whosoever, without lawful authority or excuse (the proof having forged thereof shall lie on the party accused), purchases or receives from bank notes, any Other person, or has in his custody or possession any forged bank note, bank bill of exchange, or bank post bill, or blank bank note, blank bank bill of exchange, or blank bank post bill, knowing the same to be forged, is guilty of felony, and shaU be liable to be imprisoned in the Penitentiary for any term not exceeding fourteen years and not less than two years, or to be imprisoned in any other gaol or place of confinement for any term less than two yeai’s, with or without hard labor. As to making paper and engraving plates, &c.,for hank nates, &c. Making or IT. Whosoever, without lawful authority or excuse (the proof foTmfk^g^^*^* whereof shall lie on the party accused), makes or uses, or knowingly paper with has in his custody or possession, any frame, mould or instrument for T^oriis n ft ij[ ' V f for Dominion the making of paper used for Dominion or Provincial notes, or for nSes' &r^r words used in such notes, or any part of such selling such words intended to resemble or pass for the same, visible in the sub- paper. stance of the pajoer, or fbr the making of paper with curved or waving bar lines, or with the laying wire lines thereof in a waving or curved shape, or with any number, sum or amount expressed in a word or words in letters, visible in the substance of the paper, or with any device or distinction peculiar to and appearing in the substance of the paper used for such notes, respectively, or makes, uses, sells, exposes to sale, utters or disposes of, or knowingly has in his 1869. Forgery. Cap. 19. 87 his custody or possession any paper whatsoever with any words used in such notes, or any part of such words, intended to resemble and pass for the same, visible in the substance of the paper, or any paper with curved or waving bar lines, or with the laying wire lines thereof in a waving or curved shape, or with any number, sum or amount expressed in a word or words in letters, appearing visi- ble in the substance of the paper, or with any device or distinction peculiar to and appearing in the substance of the paper used for any such notes respectively, or by any art or contrivance causes any such words or any part of such words, intended to resemble and pass for the same, or any device or distinction peculiar to and appearing in the substance of the paper used for any such notes, respectively, to appear visible in the substance of any paper, or causes the numerical sum or amount of any such note, in a word or words in letters, to appear visible in the substance of the paper, wheroon the same is written or printed, is guilty of felony, and shall be liable to be imprisoned in the Penitentiary for any term not exceeding fourteen years and not less than two years, or to be imprisoned in any other gaol or place of confinement for any term less than two years, with or without hard labor. 18. Nothing in the last preceding section contained shall prevent Proviso as to any person from issuing any bill of exchange or promissory note oiTex^ having the amount thereof expressed in a numerical figure or figures change, uttering paper to De the Dill, note, undertaking or order of any foreign prince or on which any state, or of any minister or ofiicer in the service of any foreign bnforVote^ prince or state, or of any body corporate or body of the like is printed, nature constituted or recognized by any foreign prince or state, or of any person or company of persons resident in any country not under the dominion of Her Majesty, or whosoever, without lawful authority or excuse (the proof whereof shall lie on the party accused), engraves or in anywise makes upon any plate whatever, or upon any wood, stone or other material, any bill of exchange, ^ promissory note, undertaking, or order for payment of money, or any part of any bill of exchange, promissory note, undertaking or order for payment of money, in whatsoever language the same may be expressed, and whether the same is or is not, or is or is not intended to be, under seal, purporting to be the bill, note, under- taking or order, or part of the bill, note, nndertaking or order of any foreign prince or state, or of any minister or officer in the ' service of any foreign prince or state, or of any body corporate, or body of the like nature, constituted or recognized by any foreign prince or state, or of any person or company of persons ' resident in any country not under the Dominion of Her Majesty, or uses or knowingly has in his custody or possession any plate, stone, wood, or other material, upon which any such foreign bill, note, undertaking, or order, or any part thereof, is engraved or made, or knowingly offers, utters, disjDOses of, or puts off, or has in his cus- tody or possession, any paper upon which any part of such foreign bill, note, undertaking or order is made, or printed, is guilty of felony, and shall be liable to be imprisoned in the Penitentiary for any term not exceeding fourteen years and not less than two years, or to be imprisoned in any other gaol or place of confinement for any term less than two years, with or without hard labor, and with or without solitary confinement. Extracts 90 Cap. 21. Larceny, 8fc. 32-33 ViCT. Agent, banker, &c., embezzl- ing money or selling securi- ties, &c., intrusted to him. Or goods, &c., intrusted to him for safe custody. Punishment. Not to apply to trustees o mortgagees. Extracts from an Act respecting Larceny and other similar olfences. 32-33 Vic. (lo69)^ Cap. 21. to frauds by agents, hankers, or factors. • 76 . Whosoever, having been intrusted, either solely, or jointly with any other person, as a hanker, merchant, attorney or other agent, with any money or payment for the security of money, with any direction in writing, to apply, pay or deliver such money or security or any part thereof respectively, or the proceeds, or any part of the proceeds of such security for any purpose, or to any person specified in such direction, in violation of good faith, and contrary to the terms of such direction, in anywise converts to his own use or benefit, or the use or benefit of any person other than the person by whom he has been so intrusted, such money, security, or proceeds, or any part thereof respectively, and whosoever having been intrusted, either solely or jointly with any other person, as a banker, merchant, broker, attorney, or other agent, with any chattel or valuable security, or any power of attorney for the sale or transfer of any share or interest in any public stock or fund, whether of the United Kingdom, or any part thereof, or of this Dominion of Canada, or any province thereof, or of any British colony or possession, or of any foreign state, or in any stock or fund of any body corporate, company or society, for safe custody or for any special purpose without any authority to sell, negociate, transfer or pledge, in vio- lation of good faith, and contrary to the objector purpose for which such chattel, security, or power of attorney has been intrusted to him, sells, negociates, transfers, pledges, or in any manner converts to his own use or benefit, or the use or benefit of any person other than the person by whom he has been so intrusted, such chattel, or security, or the proceeds of the same, or any part thereof, or the share or interest in the stock or fund to which such power of attor- ney relates, or any part thereof, is gnlty of a misdemeanor, and shall be liable to be imprisoned in the Penitentiary for any term not exceeding seven years and not less than two years, or to be imprisoned in any other gaol or place of confinement for any term less than two years, with or without hard labor, and with or with- out solitary confinement; but nothing in this section contained relating to agents shall affect any trustee in or under any instrument whatsoever, or any mortgagee of any property real or personal, in respect to any Act done by such trustee or mortgagee in relation to the property comprised in or affected by any such trust or mortgage; nor shall restrain any banker, merchant, broker, attorney 1869. Larceny, 8fc. Cap. 21. 91 .attorney or pther agent from receiving any money due or to become actually due and payable upon or by virtue of any valuable security, according to the tenor and effect thereof, in such manner as he might have done if this Act had not been passed ; nor from selling, transferring, or otherwise disposing of any securities or effects in his possession, upon which he has any lien, claim, or demand, entitling him by law so to do, unless such sale, transfer or other disposal extends to a greater number or part of such securi- ties or effects than are requisite for satisfying such lien, claim or demand. Nor to bankers, St,Q., receiving money due on securities ; Or disposing of securities on which they have a lion. ’ 77 ’. Whosoever, being *a banker, merchant, broker, attorney, or Bankers, &e., agent, and being intrusted, either solely, or jointly with any other geiilng^&c., person, with the property of any other person for safe custody, with property intent to defraud, sells, negociates, transfers, pledges, or in any „ am other manner converts or appropriates the same or part thereof, to or for his own use or benefit, or the use or benefit of any person other than the person by whom he was so intrusted, is guilty of a misdemeanor, and shall be liable to any of the punishments which the Court may award as hereinbefore last mentioned. 78 . Whosoever, being intrusted, either solely or jointly with any Persons under other person, with any power of attorney, for the sale or transfer of attorney^ any property, fraudulently sells or transfers, or otherwise converts fraudulently the same or any part thereof to his own use or benefit, or the use or pe^tyf benefit of any person other than the person by whom he was so intrusted, is guilty of a misdemeanor, and shall be liable to any of the punishments which the Court may award as hereinbefore last mentioned. 79 . Whosoever, being a factor or agent intrusted, either solely or jointly with any other person, for the purpose of sale or otherwise, with the possession of any goods, or of any document of title to goods, contrary to or without the authority of his principal in that behalf, for his own use or benefit, or the use or benefit of any person other than the person by whom he was so intrusted, and in viola- tion of good faith, makes any consignment, deposit, transfer or delivery of any goods or document of title so intrusted to him as in this section before mentioned, as and by way of a pledge, lien or security for any money or valuable security, borrowed or received by such factor or agent at or before the time of making such con- signment, deposit, transfer or delivery, or intended to be thereafter borrowed or received, or contrary to, or without such authority, for his own use or benefit, or the use or benefit of any person other than the person by whom he was so intrusted, and in violation of good faith, Factors obtaining advances on the property of their prin- cipals. 92 Cap. 21. 32-33 Yic-r. Clerks wilfully assisting. Proviso, as to cases excepted when the pledge does not exceed the amount of their lien. Definitions of terms : Intrusted.” Pledge.” “ Possessed.” “ Loan or advance,” “ Contract or agreement.” Larceny, 8fC. faith, accepts any advance of any money or valuable security on the faith of any contract or agreement to consign, deposit, transfer or delivery of any such goods or document of title, is guilty of a mis- demeanor, and shall be liable to any of the punishments which the Court may award as hereinbefore last mentioned ; and every clerk or other person who knowingly and wilfully acts and assists in making any such consignment, deposit, transfer or delivery, or in accepting or procuring such advance as aforesaid, is guilty of a misdemeanor, and shall be liable to any of the same punishments ; Provided that no such factor or agent shall be liable to any prose- cution for consigning, depositing, transferring or delivering any such goods or documents of title, in case the same are not made a security for, or subject to the payment of anygreatei* sum of money than the amount, which at the time of such consignment, deposit, transfer, or delivery, was justly due and owing to such agent from his principal, together with the amount of any bill of exchange drawn by or on account of such principal, and accepted by such factor or agent. 80. Any factor or agent intrusted as aforesaid, and possessed of any such document of title, whether derived immediately from the owner of such goods, or obtained by reason of such factor or agent having been intrusted with the possession.of the goods, or of any other document of title thereto, shall be deemed to have been intrusted with the possession of the goods represented by such document of title ; and every contract pledging or giving a lien upon such document of title as aforesaid, shah be deemed to be a pledge of and lien upon the goods to which the same relates ; and such factor or agent shall be deemed to be possessed of such goods or document, whether the same are in his actual custody or held by any other person subject to his control, or for him, or on his behalf ; and where any loan or advance is bond fide made to any factor or agent intrusted with and in possession of any such goods or document of title, on the faith of any contract or agreement in writing to consign, deposit, transfer or deliver such goods of document of title, and such goods or document of title is or are actually received by the person making such loan or advance, with- out notice that such factor or agent was not authorized to make such pledge or security, every such loan or advance shall be deemed to be a, loan or advance on the security of such goods or document of title, within the meaning of the last preceding section, though such goods or document of title are not actually received by the person making such loan or advance till a period subsequent there- to ; and any contract or agreement whether made direct with such 1869 Larceny, 8fc. Cap. 21. 93 such factor or agent, or with any cl erk or other person on his behalf, shall be deemed a contract or agreement with such factor or agent ; and any payment made, whether by money or bill of exchange or other negotiable security, shall be deemed to be an advance within the meaning of the last preceding section ; and a factor or agent in “ Advance.’* possession, as aforesaid, of such goods or document, shall be taken for Possession to the purpose of the last preceding section, to have been intrusted there- evidence of with by the owner thefeof, unless the contrary be shown in evidence. Trustees fraudulently disposing of property- guilty of a misdemeanor. No prosecu- tion shall be commenced ■without the sanction of some judge or the Attorney General. 81. Whosoever, being a trustee of any property for the use or benefit, either wholly or partially, of some other person, or for any public or chai'itable purpose, with intent to defraud, converts or appropriates the same or any part thereof to or for his own use or benefit, or the use or benefit of any person other than such person as aforesaid, or for any purpose other than such public or charitable purpose as aforesaid or otherwise disposes of or destroys such pro- perty or any part thereof, is guilty of a misdemeanor, and shall be liable to any of the punishments which the Court may award as hereinbefore last mentioned; Provided that no proceeding or prosecution for any offence included in this section shall be com- menced without the sanction of the Attorney General, or Solicitor General for that Province in which the same is to be instituted ; Provided also, that when any civil proceeding has been taken against any person to whom the provisions of this section may apply, no person who has taken such civil proceeding shall commence any prosecution under this section without the sanction of the Court or Judge before whom such civil proceeding has been had or is pending. 82 . Whosoever, being a director, member, manager or public Directors &c. officer of any body corporate or public company, fraudulently takes or applies for his own use or benefit, or for any use or pur- pTbiircom°-'^ poses other than the use or purposes of such body corporate or pa^yfraudu- T , . PI X lently appro- public company, any of the property of such body corporate or priating pro- public company, is guilty of a misdemeanor, and shall be liable to- any of the punishments which the Court may award as hereinbe- fore last mentioned. 83 . Whosoever, being a director, member, or manager or public or fraudulent- officer of any body corporate or public company, .as such receives ly^keeping ^ or possesses himself of any of the property of such body corporate or books. or public company, otherwise than in payment of a just debt or demand, and with intent to defraud, omits to make, or to cause or direct to be made, a full and true entry thereof in the books and accounts of such body corporate or public company, is guilty of a misdemeanor, 94 Cap. 21. Larceny, 8fc. 32-33 ViCT. Or wilfully destroying or falsifying books or papers, &a. Or fraudulent- ly publishing false state- ments or accounts. No person to be exempt from answer- ing questions in any court ; but no person making a dis- closure in any compulsory proceeding to be liable to prosecution. No remedy at law or in equity to be affected. misdemeanor, and shall be liable to any of the punishments which the Court may award as hereinbefore last mentioned. 84. Whosoever, being a director, manager, public officer or member of any body corporate or public company, with intent to defraud, destroys, alters, mutilates or falsifies any book, paper, writing or valuable security belonging to the body corporate or public company, or makes or concurs in the making of any false entry, or omits, or concurs in omitting any material particular in any book of account or document, is guilty of a misdemeanor, and shall be liable to any of the punishments which the Court may award as hereinbefore last mentioned. 85. Whosoever, being a director, manager, or public officer or member of any body corporate, or public company, makes, circu- lates, or publishes, or concurs in making, circulating or publishing any written statement or account which he knows to be false in any material particular, with intent to deceive or defraud any member, shareholder, or creditor of such corporate or public company, or with intent to induce any person to become a shareholder or partner therein, or to intrust or advance any property to such body cor- porate or public company, or to enter into any security for the benefit thereof, is guilty of a misdemeanor, and shall be liable to any of the punishments which the Court may award as hereinbefore last mentioned. 86 . Nothing in any of the last ten preceding sections of this Act contained shall enable or entitle any person to refuse to make a full and eomplete discovery by answer to any bill in equity, or to answer any question or interrogatory in any civil proceeding in any Court, or upon the hearing of any matter in bankruptcy or insolvency ; and no person shall be liable to be convicted of any of the misde- meanors in the said sections mentioned by any evidence whatever, in respect of any act done by him, if, at any time previously to his being charged with such offence, he has first disclosed such act on oath, in consequence of any compulsory process of any Court of law or equity, in any action, suit or proceeding, bond fide instituted by any party aggrieved, or if he has first disclosed the same in any compulsory examination or deposition before any Court, upon the hearing of any matter in bankruptcy or insolvency. 8*7. Nothing in the last eleven preceding sections of this Act contained, nor any proceeding, conviction or judgment to be had or taken thereon against any person under any of the said sections shall prevent, lessen, or impeach any remedy at law or in equity, which 1869. Cap. 21. Larceny, 8^c. 95 whicli any party aggrieved by any oifence against any of the said sections might have had if this Act had not been passed ; but no conviction of any such offender shall be received in evidence in any action at law or suit in equity against him ; and nothing in Convictions the said sections contained shall affect or prejudice any agreement in entered into, or security given by any trustee, having for its object evidence in the restoration or repayment of any trust property misappropriated. 88. If the keeper of any warehouse, or any forwarder, common Keepers of carrier, agent, clerk, or other person employed in or about any warehouse, or if any other factor or agent, or any clerk or other false receipts, person employed in or about the business of such factor or agent, knowingly and wilfully gives to any person a writing purporting to be a receipt for, or an acknowledgment of any goods or other property as having been received in his warehouse, or in the ware- house in or about which ho is employed, or in any' other manner received by him or by the person in or about whose business he is employed, before the goods or other property named in such receipt or acknowledgment have been actually delivered to him as afore- said, with intent to mislead, deceive, injure or defraud any person or persons whomsoever, although such person or persons may be then unknown,— or if any person knowingly and wilfully accepts or Persons know- transmits or uses any such false receipt or acknowledgment, the person giving and the person accepting, transmitting or using such receipt or acknowledgment, are severally guilty of a misdemeanor, and shall be liable to be imprisoned in the Penitentiary for any term not exceeding three years, and not less than two years, or to be imprisoned in any other gaol or place of confinement for any term less than two years but not less than one year. 89 . If any^ merchandise has, in the name of the owner or of any owners selling other person, been shipped or delivered to the keeper of anv ware- advance , , ^ by consignees, house or to any other factor, agent or carrier, to be shipped or carried, and the consignee afterwards advances any moneys or gives any negotiable security to such owner or other person, then, if after any such advance the said owner or other person for his own bene- fit and in violation of good faith, and without the consent of such consignee first had and obtained, makes any disposition of such merchandise different from and inconsistent with the agreement made in that behalf between such owner or other person aforesaid and such consignee at the time of or before such money being so advanced or such negotiable security being so given, with the intent to deceive, defraud or injure such consignee, the owner or other person aforesaid, and each and every other person knowingly and wilfully acting and assisting in making such disposition for the purpose 32-33 Yict. Cap. 21, Larceny, 8fc. purpose of deceiving, defrauding or injuring such consignee, is or are guilty of a misdemeanor, and shall be liable to he imprisoned in the Penitentiary for any term no exceeding three years, and not less than two years, or to he imprisoned in any other gaol or place of confinement for any term less than two years but not less than one year ; but no person shall be subject to prosecution under this section, who had, before making a disposition of the merchandise aforesaid, paid or tendered to the consignee the full amount of any advance made thereon. 90 - Any miller, warehouseman, factor, agent, or other person, . , who, after having given, or after any clerk or person in his employ giving receipts ’ , , . t t i i i • for goods, and has to his knowledge given, as having been received by him, in any the mill, warehouse, vessel, cove, or other place, any receipt, certificate accordingly, or acknowledgment, for grain, timber, or other goods or property, which can be used for any of the purposes mentioned in the Act passed in the thirty-first year of Her Majesty’s reign, and intituled “ An Act respecting Banks,” or any person, who, after having obtained any such receipt, certificate, or acknowledgment, and after having endorsed or assigned it to any bank, or person, afterwards and without the consent of the holder, or endorsee in writing, or the production and delivery of the receipt, certificate, or acknowledg- ment, wilfully alienates, or parts with, or does not deliver to such holder, or endorsee, of such receipt, certificate, or acknowledgment, the grain, timber, goods, or property therein mentioned, is guilty of a misdemeanor, and shall be liable to be. imprisoned in the Peniten- tiary for any term not exceeding three years, or in any other gaol or place of confinement for any term less than two years, but not Proviso. less than one year; Provided that nothing in this section shall prevent the offender from being indicted and punished for larceny, instead of misdemeanor, if, as being a bailee, his offence amounts to larceny. As to partners. 91 . If any offence in the last three preceding sections mentioned be committed by the doing of any thing in the name of any firm, company or copartnership of persons, the person by whom such thing is actually done, or who connives at the doing thereof, shall be deemed guilty of the offence, and not any other person. 96 Proviso : if consignee’s advances be paid. Millers, fac- tors, &c.. Certain mis- misdemeanor against any of the sixteen last preceding demeanors not sections of this Act shall be prosecuted or tried at any Court of Sons? General or Quarter Sessions of the Peace ; and if upon the trial of any person under any of the said sections, it appears that the offence proved amounts to larceny, he shall not by reason thereof be entitled to be acquitted of a misdemeanor under the said sections. LIST OF STATUTES PASSED SINCE CONFEDEEATION APFECTINU OR CREATINU BANK CITARTEES. * Figures mai’ked with a star refer to 2nd volumes of the Statutes. u (1 u u a tt ti Banque a a H Albion Mines Savings Bank, Act respecting - - - - . Bank of Acadia, incorporated “ Agriculture, “ “ Hamilton, “ - “ Liverpool, “ “ Manitoba, “ - - - - “ Manitoba, Charter amended - - - _ . . “ Hew Brunswick, “ Nova Scotia, reduction of Capital - - - _ . Nova Scotia, Act respecting, Ottawa, incorporated - . St. John, “ - Toronto, Charter amended The United Provinces — see London and Canada Upper Canada, Act for settlement of affairs of - - - Upper Canada, Act concerning ------ Upper Canada, Act for settling affairs of, amended d’Hochelaga, incorporated ------- d’Hochelaga, Charter amended ----__ dc St. Hyacinthe, incorporated ------ du Peuple, Act concerning de St. Jean, incorporated ------ de St. Jean-Baptiste, “ “ Act amended - - - - _ “ Ville Marie, incorporated Bedford District Bank, incorporated Canadian Bank of Commerce, A«t respecting - - - -. - “ and Gore Bank, amalgamation of Central Bank of New Brunswick, Act relating to - _ - - “ of Canada, incorporated -----. Chartered Bank of London and North America, incorporated City Bank, Charter amended - -- -- -- - ‘‘ and Royal Canadian Bank, amalgamated - - - - Commercial Bank of Canada, Act respecting ----- ‘‘ and Merchants Bank, Amalgamation of «onfirmed - -- -- -- -- - Bank of New Brunswick, Act relating to - . - Consolidated Bank of Canada, incorporated _ - _ _ . Dominion Bank, incorporated Exchange Bank of Canada, incorporated ----__ Federal Bank of Canada, name of Superior Bank changed to “ Act respecting Gore Bank, Charter amended ------_ “ Amalgamation of, with Canadian Bank of Commerce Halifax Banking Company, incorporated - . _ . _ Imperial Bank, incorporated - “ Charter amended ------. “ Amalgamation with Niagara District Bank year. VIC. CAP. 1874 37 64 1872 35 55 1868 31 85 1872 35 53 1871 34 42 1872 35 60 1874 37 62 1869 32-33 57 1871 34 57 1874 37 59 1874 37 56 1872 35 56 1869 32-33 52 1875* 38 60 1867 31 17 1870 33 40 1871 34 8 1873 36 13 1874 37 58 1873 36 77 1870 33 41 1873 36 51 1875 38 59 1876* 39 41 3872 35 51 ■ 1871 34 40 1869 32-33 56 1870 33 42 1872 35 57 1873 36 78 1876* 39 40 1869 32-33 51 1876* 39 44 1867 31 18 1868 31 84. 1871 34 38 1876* 39 44 1869 32-33 60 1872 35 50 1873 36 79 1874 37 57 1869 32-33 54 1870 33 42 1872 35 54 1873 36 74 1874 37 61 1875* 38 61 7 9 ^ LIST, &c. — Continued, London and Canada Bank, incorporated “ name changed to Bank of the United Pro- vinces ----------- London and Canada Bank, Act amended ----__ Manufacturers’ Bank of Canada, (formerly Victoria Bank) Maritime Bank of the Dominion of Canada, incorporated - - - Mechanics Bank, Act respecting Merchants Bank and Commercial Bank, Amalgamation of confirmed - Merchants Bank of Halifax, incorporated - - - _ _ “ Act incorporating amended - _ - Metropolitan Bank, incorporated ------- Niagara District Bank, Acts relating to amended - - - _ “ Amalgamation with Imperial Bank of Canada. Ontario Bank, Charter amended ------. “ Act to amend and explain the Charter of - - - “ Charter amended ------- Pictou Bank, incorporated --------- Quebec Bank, Charter amended Eoyal Canadian Bank, Charter amended, provision made for amalgama- tion with another Bank, or for winding up - - - - Eoyal Canadian Bank and City Bank, amalgamated - - - Stadacona Bank, incorporated - - - - - - St. Lawrence Bank, incorporated “ name changed ------- Standard Bank (formerly St. Lawrence Bank), Act respecting Superior Bank of Canada, incorporated ------ “ name changed - - - - _ Three Eivers Bank, incorporated - - - - - _ Toronto Savings Bank, Act respecting ------ Union Bank of Lower Canada, Charter amended - - - - Victoria Bank of Canada, incorporated ------ “* name changed to Manufacturers Bank of Canada ----------- Western Bank, incorporated VBAE. VIC. CAP. 1874 37 55 1875* 38 60 1876* 39 43 1874 37 60 1872 25 58 1876 39 42 1868 31 84 1869 32-33 59 1870 33 43 1871 34 39 1868 31 83 1875 38 61 1869 32-33 53 1871 34 37 1874 57 63 1873 36 76 1869 32-33 50 1869 32-33 58 1876* 39 44 1873 36 73 1872 35 52 1876* 39 45 1876* 39 45 1872 35 59 1873 36 79 1873 36 14 1872 35 61 1869 32-33 55 1873 36 75 1874 37 60 1871 34 41 An Act to enable Banks in any part of Canada to use notes of the Dominion instead of using notes of their own - - - An Act to remove certain restrictions with respect to the issue of Bank Notes in Nova Scotia - An Act relating to Banks and Banking - -- -- -- - An Act further to amend the Act relating to Banks and Banking An Act to amend the Act relating to Banks and Banking - - - An Act to amend the Act therein mentioned respecting Banks and Banking - 42 An Act to make provision for the winding up of Insolvent Incor- porated Banks 43 SAYINaS BANKS. An Act to provide additional facilities for depositing Savings at interest, with the security of the Government, and for the issue and redemption of Dominion Notes - -- -- -- 45 An Act respecting certain Savings Banks in the Provinces of Ontario and Quebec - -- -- -- -- -- -- - 52 An Act to amend the Chapters six and seven of the Statutes of 1871, relating to Savings Banks - -- -- -- -- -*68 An Act to amend the Act respecting certain Savings Banks in the Provinces of Ontario and Quebec - - 09 NOVA SCOTIA. An Act respecting Interest and Usury in the Province of Nova Scotia - An Act relating to Interest and Usury in the Province of New Brunswick - 73 An Act to impose duties on Promissory Notes and Bills of Ex- change 74 An Act to Amend the Act imposing duties on Promissory Notes and Bills of Exchange - -- -- -- -- -- -- 39 An Act relating to Bills of Exchange and Promissory Notes - - An Act to amend the Law relating to Bills of Exchange and PrO' missory Notes and the Stamps thereon - -- -- -- . 83 Ah Act to amend the Law relating to Bills of Exchange - - - CEIMINAL LAW. Extracts from an Act respecting Forgery - _ 86 Extracts from an Act respecting Larceny and other similar affairs DiaEST. PACfB. YEAR. VIO. CAP f 1868 31 46 8 1870 33 12 9 , 1871 34 5 : 36 '1872 35 . 8 • 46 1873 36 43 42 1875 38 17 43 1876 39 31 PAGE. year. VIC. CAP 45 1871 34 6 52 1871 34 7 * 68 1872 35 9 69 1873 36 72 NSWICK AND PAGE. YEAR. VIC. CAP 72 1873 36 71 73 1875 38 18 EXCHANaE. PAGE. YEAR. VIC. CAP 74 1867 31 9 80 1870 33 13 82 1872 35 10 83 1874 37 47 85 1875 38 19 PAGE. YEAR. VIC. CAP 86 1869 32-33 19 90 1869 32-33 21 Digest of Special, Bank Acts - PAGB. 97-98 101 INDEX. Acts Repealed,— 31 Vic., Cap. II— partially - . _ _ “ 33 “ “ 11 - - . . _ Administrations — Indemnified for paying instalments dne on shares - Agents. — Frauds by - Agencies and Branches. — Bank may open throughout Canada Annual General Meeting. — Statement to be laid before - . . “ “ “ What it must show - - . _ See Meetings. Assignees, — To be appointed on suspension of bank - - _ “ To have powers of Directors to make calls - . - . See Insolvent Banks. Ballot, — V oting of Shareholders to be by “ “ at annual meeting to be by - Banks, — M ay surrender power to issue notes, and how - - - _ _ “ Surrender not to extend over twelve months - - - - _ Compensation for such surrender Rights on renewal of charter not impaired - - - - _ “ surrendered power of issue need not hold certain securities Must make weekly returns of redemption - - _ _ _ “ May resume power to issue notes - “ What notice necessary - - - _ _ _ _ “ Shall cease to receive compensation Must receive back public securities And hold them as required by charter “ In Nova Scotia re.strictions as to notes removed - - - . _ “ Charter of certain, continued as to their incorporation - - _ _ “ to the amount of capital stock “ As to the amount of each share “ What shall form charters of certain, after July, 1881 - - - “ To what 34 V., C. 5 applies Matters to be provided for in special acts— capital stock, shares, name chief office _ ’ “ Where may open branches - - - . “ Capital stock of, may be increased “ How increase to be effected “ To be allotted “ Conditions previous to commencing business “ Not to declare dividend to impair capital ‘‘ Part of reserves of, to be Dominion Notes “ What, shall be exempt from tax ______ Not bound to see to trusts “ “ Power of, to hold real estate for occupation - - - _ “ Business of, defined “ Power of, to take mortgages as additional security - - - . _ May purchase lands mortgaged to it, if sold under execution “ “ obtain absolute title to lands - “ “ sell lands, in exercise of power of sale - - “ " acquire and hold warehouse receipts, bills of lading, specifications &c., as collateral security _ I “ Lien of, on goods so held - “ May sell goods in default of payment of debt - - _ ' . " _ “ Conditions necessary to such lien and rights - - - _ _ “ “ _ when warehouseman is himself owner of goods - - _ “ Receipt for hogs to apply to pork made therefrom - - _ “ Lien of, in what cases prior to unpaid vendor - - - _ _ “ Cannot hold lumber longer than twelv'e" months, except by written consent “ Conditions of sale — notices — must be by public auction PAGE. 35 35 11 90-91-92 10 23 23 30 31 18 20 3 6 4 4 4 4 4 4 4 9 9 9 9 10 10 10 10 10 10 10 11 11 13 13 18 38 23 24 24 24 24 25 25- 25 25 26 26 26 26 26 27 102 » # Banks i “ Cannot hold grains or goods, other than lumber, longer than six months, except by consent - “ Conditions of sale — notices “ Not to loan or discount on security of their own stock - - . _ “ Cannot deal in thek own stock ------ “ Except when necessary to realize for advances - - - “ But has lien thereon, and on dividends for overdue debts “ May sell such stock, procedure, notices, transfer of - “ May hold stock ©f other banks, bonds, debentures, &c., as collateral security “ How may be sold - '• “ “ by mutual agreement - “ Not liable to penalty for usury - - - - - *\- “ May take and recover seven per centum “ And not more - “ May allow any rate of interest on deposits . _ _ . _ “ May charge certain rates of premium when note is discounted else- where than where payable - Or where payable dlsewhere than at branch of discounting bank - “ Bonds, obligations, (See., of, by whom to be signed - - - _ . “ How assignable - “ Officer may be deputed to sign “ Insolvency of - “ Suspension of, for ninety days operates forfeiture of charter - _ . Assignees to be appointed See Insolvent Banks. “ Bn commandite, on suspension of, partners at once liable - _ _ And continue liable as provided by charter - - _ . Alone to issue notes for circulation To be subject to any general winding up act - - - - - “ “ “ bank act How, not in schedule of 34 v., c. 5, may come under act - . _ Charters of certain, continued - May receive deposits from minors And pay such deposits to the depositors - - - _ _ Proviso as to amount to be so paid Bank op British North America, — C ertain sections of 34 v., c. 5, to apply to ' “ “ “ error as to, amended ----- Bank of Nova Scotia, — C apital of may be reduced ------ Banque DU Peuple, — C ertain sections of 34 v., c. 5, to apply to - . _ Bankers, — F rauds by - -- -- -- -- -- - Bank Notes — P owers of Governor in Council, as to redemption and re-issue of “ Not to exceed unimpaired capital ------ “ No, for less than $4 to be issued or re-issued - - - - “ Eedemption of - -- -- - - -- - May be signed by machinery “ Punishment for forging, &c. ------- “ “ purchasing, receiving, or having forged “ marking paper, or engraving plates for “ Exceptions as to paper for bills or notes - _ _ . Bills op Exchange, — D rawn and payable out of Canada, not to require stamps “ No damages on, payable in Canada or Newfoundland “ per cent, damages on, payable elsewhere - - - Bonds, — P rovisions as to sale of, held for advances - - _ - _ By Laws, — M atters that may be regulated by - -- -- -- “ Proviso as to existing - -- -- -- -- Calls, — H ow enforced by action - -- -- -- -- « If not paid stock may be forfeited ------- “ Procedure for enforcement of - -- -- -- - “ Amount and intervals of - -- -- -- -- “ How, are enforced by forfeiture of Stock ------ “ Forfeiture may be remitted ------- “ On shareholders, on suspension of Bank ------ Capital, — A mount which must be subscribed before commencing business “ What amount to be paid up - -- -- -- - Pagb. 2T 27 27 42 42 27 27 27 27 38 28 28 37 28 28 28 29 29 29 30 30 30 30 31 33 34 34 34 36 37 ■ 37 38 36 36 35 35 90-91-92 4 11 11 11 29 86 86 87 87 84 8£ 8£ 38 18 19-21 21-22 21 22 22 22 22 31 11 U 103 Capital : Capital, — If any, lost, calls to be made “ Loss of, to be mentioned in next return - - - - _ • “ Profits to be applied to make good loss of _____ Certificate, — Treasury Board must grant, before business commenced Chairman, — To have casting vote - Charters, — Certain, continued by 34 V. c. 5 ______ CiTT AND District, — Savings Bank, poor fund of - - - - _ _ Curator, — Indemnified for paying instalments due on shares Definitions, — Of “ Specie,” Provincial Debentures or Government Securities.” - ‘‘ Of “ Goods,” wares and merchandize _____ “ Of “ Banks,” “ Broker,” “ Testament.” _____ “ Of “Intrusted,” “pledge,” “possessed,” “loan or advance ” and “ contract or agreement,” and “ Advance ” _ _ _ _ Deposits, — S ee Banks. “ How and to what persons may be paid - _ . “ How removed and replaced at special general meeting “ Qualification of __________ “ Annual election of - “ Discounts to __________ Directors, — B oard of - “ Shall be natural born or naturalized subjects _____ “ When and where elected - - - - - “ To be elected by ballot _________ “ Vacancies among, how filled ______ “ Non-filling of vacancies not to vitiate acts of - - _ - _ “ Election of President and Vice-President from among « Must continue to hold requisite amount of stock - - _ _ “ Provision in case of failure of election of - _ _ _ “ What constitutes quorum of - “ Who to preside at meetings of - -- -- -- Casting vote at meetings of - -- -- -- - •“ May make by-laws for certain purposes _ _ _ _ _ “ Appoint officers - “ Certain of whom must give security _ _ _ _ _ “ Have power to make calls “ And to enforce same by action ______ “ Or declare stock forfeited in case of non-payment _ _ _ “ May inspect books, &c. - “ Giving undue preference guilty of misdemeanor and liable for damages “ Kefusing to make calls in certain cases guilty of misdemeanor “ Punishment of for fraudulently appropriating property - - _ “ “ Or wilfully destroying or falsifying books “ “ Or fraudulently publishing false statements Dividend, — N o, to impair capital - “ Penalty for excess - “ If part of capital is lost, calls must be made for equivalent amount “ Not to exceed eight per cent, unless certain reserve fund exists - “ May be made payable in United Kingdom - “ And notice thereof - -- -- -- -- - “ Liable tor overdue debts of owner ______ “ Eeservation of, on outstanding notes when bank Insolvent Dominion Notes, — E xchanged for Provincial or other government securities “ Certain Provincial notes to be “ May be issued instead of Provincial notes redeemed “ As to their redemption and re-issue - - . - « Sums to be used for redemption of - - - - - “ Debentures to be held for difference between specie and amount of - “ Commissioners to ascertain amount of, issued - - “ and specie and debentures held _ _ _ _ _ “ to make return under oath _ _ _ _ _ “ return to be published - _ _ _ _ “ form ot oath “ Proceeds of, to be part of consolidated fund of Canada r Page. 11 11 11 11 18 36 71 14 7 25 84 92-93 38 19 19 19 19^ 20 20 20 20 20 20 20 20 21 21 21 21 21 21 21 21 21 22 23 31 32 93 94 94 11 11 11 12 14 23 27 44 3 5 6 6 6 6 7 7 7 7 n I 7 104 Dominion Notes : Dominion Notes, — O r Provincial notes, punishment for forging “ “ “ “ tor having plates' of “ “ “ “ uttering - _ _ “ Arrangements for supplying “ Agents for issue and redemption of - - . _ Dominion Stock, — five per cent, authorized Election, — F ailure in, of officers not to dissolve corporation - - _ _ Embezzlement, — O f bonds, &c., a felony - “ How punishable - Executors, — I ndemnified for paying instalments due on - _ _ _ Factors, — F rauds by - F ALSE Receipts, — P unishment for giving “ and for persons knowingly using - - - _ ^ Form op Monthly Return,— B y 34 V. C. 5, amended and new form given “ Further amended Forging, — N otes, punishment for - Frauds, — B y agents, bankers or factors - “ By owners of goods after advance by consignees - _ _ _ Grains,— P rovisions of 34 v, c. 5 extended to cereal Halifax Banking Company, — I ssue of notes of, to 1814 Hogs, — R eceipt for, to apply to pork made therefrom - - - . . “ Provisions of 34 v., c. 5, extended to, when converted into hams and bacon Holidays, — I n matters relating to notes - Insolvency op Bank, — - Insolvent Banks, — A ct for winding up “ When alone, writ of attachment or assignment may be made “ Judge may adjourn proceedings for writ - _ . _ “ And order preliminary enquiry and report _ _ _ “ Not to carry on business “ Appointment and powers of Receiver and Assignee “ Notice to note holders — divividend on outstanding notes “ Action under sec. 147 and appeal under sec. 128 Interest and Usury, — I n Nova Scotia - “ In New Brunswick Landed Credit, — C ompanies, returns of (repealed) Limitation of Time, — F or holding lumber in pledge - - _ _ . “ “ “ other goods and merchandize - _ _ Malt, — P rovisions of 34 V., c. 5, extended to Meetings, — S pecial General now called - “ If President, Vice-President or Director be removed at “ Annual General^ how and where called “ who may vote at _ “ Voting at, to be by ballot - “ Proxies may vote at - “ Only shareholders may act as proxies at - _ . _ . “ Case of equality of votes at - Misdemeanors, — ^P unishment of- - Mould, — P unishment for making or having mould for making paper with name of bank, company or person carrying on business as bankers, or for hav- ing such paper - . . _ N OTEs, — Chartered banks only to issue - “ What shall be deemed ‘ Punishment for engraving, making, having in possession or uttering forged Dominion, Provincial or Bank Or for engraving any part of, or having or using any forged plate, or hav- ing any paper on which any part of such notes is impressed Notices, — H ow, under 34 V.; c. 5, shall be given ------ Office,— P lace of chief office to he declared in Act of Incorporation - - " Officers, — C ertain, of Bank must give security “ Giving undue preference, guilty of misdemeanor and liable for damages Partner, — D oing certain wrongful acts, alone deemed guilty - . _ 1 President, — H ow removed at special general meeting - - - . . “ How replaced - ~ . “ Election of - Page 8 8 8 14 51 51 21 31 31 14 90-91-92 95 95 40 42 8-86 90-91-92 95 38 33 26 38 39 30 43 43 43 43 44 44 44 44 72 73 68 26 27 38 19 19 20 20 20 20 20 20 33 88 33 33 87 87-88 33 10 21 31 33 19 19 20 105 Proxies : Proxies, — S ee Annual General Meeting — Shareholders. Provincial Notes, — S ee Dominion Notes. Profits, — T o be applied to make good loss of capital _ . _ _ _ Procedure, — T o effect forfeiture of stock - “ '• sale of lumber, sroods or grain held in pledge “ “ “ stock for debt of owner - _ _ _ _ Promissory Notes and Bills op Exchange, — “ “ Not usurious by reason of interest taken by banks “ “ By reason of interest allowed by one party to another “ “ Interest allowed on _ “ “ Holidays in matters relating to - - - - - Stamps , — By whom shall be affixed - - - . . “ Penalty in default - - - _ . “ Duty doubled “ Penalty for not affixing proper (repealed) u u a n “ Exception in favor of innocent party repealed - << <£ U II I! “ “ Presumption in suit for penalty (repealed) - - _ “ “ “ “ _ . _ _ . “ “ Provision in faYor of innocent party (repealed) “ “ “ “ “ “ Holder may pay duty without becoming party (repealed) Penalty , — For affixing stamps already used _ _ . “ Incurred on each instrument - - - _ “ Recovery of “ On bank or broker for making, taking or using unstamped note _____ “ “ Punishment for forging stamps _____ Or making or having instruments for forging Such shall be forgery — interpretation Duties , — To be within Revenue Act _____ “ Application of certain Acts to, on notes “ If part of, not paid through inadvertence “ “ Maturity of, payable at a month or months _ _ _ “ “ How notice of protest or dishonour is to he given Duties on , — “ What instruments liable to _ _ _ “ “ exempt from _ _ _ “ How shall be paid - _ - - - “ “ cancelled ______ “ Penalties for non-compliance _ _ _ “ Stamped paper may be used - Or adhesive stamps - _ . _ “ How reckoned in Nova Scotia - _ _ _ “ Stamps and stamped paper, sale of _ _ _ _ Grovernor in Council may make regulations Punishment for — Forging or altering foreign - “ Offering, uttering or disposing of fo- reign Notes and Bills, knowing them to be forged _ _ _ “ Engraving or having forged plates in possession _ _ _ . Quebec Savings Banks, — P oor fund of - Questions, — N o person exempt from answering certain, in court _ _ _ But not to be liable to prosecution _ _ _ _ _ Receipts, — G iving false, a misdemeanor - “■ Accepting, transmitting or using false, a misdemeanor “ False statements in, a misdemeanor “ Wilfully alienating subject of, a misdemeanor _ , _ . “ “ not delivering, a misdemeanor - - - - Receiver, — S ee Insolvent Banks. Reserves, — P art of to be in Dominion Notes ______ Returns, — M onthly, to be made - Page. 20 22 26 27 37 37 37 39 97 97 78 78 97 78 81 81 81 78 81 78 79 79 79 84 79 79 79 80 80 82 82 83 75 75 76 76 76 76 76 77 77 77 89 89 89 7l 94 94 32 32 32 32 32 13 12 / 106 Returns : How attested - Sale of Stock, — B onds, &c., when held for advances, may be sold according to agreement - Savings Banks, — W ith Government security, act respecting - - - . Establishment and regulation of, in N. S. and N. B. Deposits, how made, entered and proved . _ _ _ Report to Minister of Finance ______ Report to depositors, and its effect ______ Depositor to give his address, &c. _____ Deposits paid to credit of Receiver General _ _ _ _ Withdrawals, how paid _______ Interest on deposits ________ “ added to principal _______ Deposits received from minors and other _ _ _ _ persons not qualified to contract _ _ . _ " hut amount limited to $500 _____ Government officers not bound to see to trusts _ _ _ Deposits in name of more than one person _ _ _ _ receipt on one of them sufficient _ _ _ _ Payments made , bona fide on certain documents to be valid Governor in Council may make regulations to carry out act, their effect _________ To be published and laid before Parliament _ _ _ Agent and officers to take oath of office . _ _ _ Punishment for altering entries, embezzling money, &c. But other remedies not effected ______ Punishment of persons falsely pretending to be owners of deposits _________ Inspectors may be appointed and removed _ _ _ _ Their duties ________ In N. S. and N. B., subject to this act _ _ _ _ _ St. Johns, (N. B.), provisions respecting _ _ _ _ As to deposits in N. B. and N. S. on 1st July, ISBl _ _ _ Establishment of, at Montreal, Toronto, Manitoba, and other places _________ Managers to be agents for Dominion Notes _ - - _ Post Office act, 186 7, amended as to Savings Banks Payment of deposits out of Consolidated Fund _ . _ Monthly Statement by Auditor General - - _ - _ All parties receiving savings to make returns to Government _ Acts respecting certain in 0. and Q. _ _ _ . Con. Stat. Canada, C. 56 repealed ______ Acts now in force continued for a certain time, &c. How the banks may continue thereafter _ _ _ _ Proviso as to transfer of assetts and liabilities _ . _ Provisions if transferred to Government _ _ _ _ if transferred to a chartered bank _____ If continued under a special charter _____ Capital, petition to Governor, stock-book Duration and provisions of charter _ _ . . Name, directors, by-laws ______ General Meetings, officers, dividends _ _ _ _ Inspection of books, loans to directors _ _ _ Returns, real estate, effect of charter _ _ _ . Qualification of directors, votes . - - - _ Transfer of, to the new chartered banks _ _ _ _ Calling in stock Obligations of directors in that behalf _ - _ _ _ Recovery of calls by action - - - - - - proof in such cases ________ Liability of stockholders in case of deficiency _ _ _ Calls in such cases ------ Failure to pay such call operates forfeiture of interest Shareholders, liable for 30 days after transfer - - - - a u u u u u a u u it u a u a u u u n u il u a u u u a u u u u it a u a u u a u (t u u ii a a a (( Page. 12 38 45 45 46 46 46 46 46 46 47 47 47 47 47 47 47 47 48 48 48 49 . 49 49 49 50 50 50 50 50 51 51 51 52 52 52 53 53 53 53 54 56 56 56 57 57 58 58 58 58 59 59 59 59 59 60 60 60 60 lot Hayinss Banks ; , , “ Directors guilty of misdemeanor and, liable to damages, in refus- ing to make such calls - - - - “ Assignee, or Receiver, vested with powers of directors in such cases - Transfers of stock - “ Bank may receive deposits and pay - - - . _ “ ” Depositors to give name and address - - - . - “ ' Deposits receivable from person otherwise unable to contract “ ” But amount limited to $2000 “ Investment of deposits to amount of subscribed capital of bank “ May loan to amount of subscribed capital _ _ _ . “ What collateral security may be taken - _ _ - “ Enforcing payment of loans on collaterals - - _ _ “ May purchase land mortgaged to it if sold under execution “ May obtain release of equity of redemption or procure foreclosure, or purchase prior mortgage “ May exercise powers of sale, &c. “ Investments beyond subscribed capital to be in government securities (amended) - - - - “ Deposits in call on chartered bank allowed - - - - “ Excess of Assetts over par value how to be dealt with (amended) “ Failure to elect directors, remedied _ . . _ _ “ Director becoming insolvent or absent for 1 2 months, or con- victed of felony, ceases to be a director _ _ _ _ “ Transmission of shares, or deposit otherwise than by regular transfer how proved - “ As to declaration in foreign country _ _ . “ “ By marriage or decease - - - - “ Not bound to see to trusts “ One of several joint depositors may grant receipt - * - “ Payments made in good faith, on certain documents to be valid “ Punishment of officers, for altering books, &c., or embezzling - “ “ for falsely pretending to own deposits “ “ for making false statements in accounts “ Not to issue Bank notes ------- “ To be subject to any general Act “ Act of 1871, amended “ Surplus of St. Johns savings banks to be left in hands of trustees “ Northumberland and Durham, provision for distribution of surplus “ Error in French version of s. 18 of 34 V. c. 7, corrected “ Ontario and Quebec Act, amended “ May invest or loan any amount of deposits . _ _ “ But shall always hold 20 per cent, of deposits in Dominion se- curities or certain stocks “ Shall make monthly returns ------ Securities, — B ank may hold certain, as collateral Sale of - Shares, — A mount of each share to be declared in Act of Incorporation - “ How and where may be paid ------ “ Ten per centum must be paid within thirty days . - “ Transfers of - - “ Are personal estate -------- “ Transfers of, what necessary to make valid “ No fractional part of transferable “ Conditions when sold under execution “ List of transfers of, to be made up daily - _ _ . _ And to be open to shareholders “ Transmission of, otherwise than by transfer - . - . - How proved - How authenticated if made out of Canada - _ . . By marriage of female shareholder By decease of shareholder Further provision in such case \ Page. 60 60 61 61 61 61 61 61 62 62 62 63 63 63 63 64 64 64 64 65 65 65 66 66 66 66 ^7 67 67 ^7 68 68 69 69 69 70 70 70 27 38 10 14 14 14 14 14 14 15 15 15 15 15 16 16 16 16 108 Shares “ Directors when in doabt as to owner of, to make application io conrt Proviso as to costs - Shares, — W hat shall he sufficient receipt for dividends on one vote for each sharo “ Only one of joint holders ofj to vote - - - - - - Shareholders, — T o vote by ballot - “ May regulate matters by by-laws - - - - . - “ May vote by proxy - << n u “ What persons cannot hold proxies _ . _ _ . '• What person may vote at annual meeting - - _ _ “ Not directors, not allowed to inspect accounts _ _ _ “ Liability of, if assets insufficient to meet liabilities - - _ “ Calls to meet such liability “ Forfeiture for non-payment - - - - - - . “ Liability of, who have transferred stock within a month before suspension ------- Ship, See Vessel. Specification op Timber, — S ee Banks. Statement, — F alse, in returns a misdemeanor Stock, — C apital, how increased and allotted. Stocks : “ Capital of, to be declared in Act of Incorporation _ _ _ _ “ Must be taken up within a certain time “ Subscription for and transfer of in United Kingdom - _ _ _ “ Forfeiture of, may be remitted “ Liable for overdue debts of owner — paid — transfer _ _ _ . “ May be sold for overdue debts of owner “ Forfeiture of, if calls on suspension of bank not paid - - _ _ “ Sale of, held for advances, may be provided for by agreement Stockholders, — L ist of, to be laid before Parliament yearly _ _ _ _ Tax, — C ertain banks to be exempt from Tender, — C ertain provincial notes to be legal “ “ « only in N. S. Trusts, — B anks not bound to see to - -- -- -- -- “ “ “ “ -------- Trustees, — P unishment for fraudulently disposing of property - - - - Prosecutions against, must be sanctioned by Attorney General or Solici- tor General - -- -- -- -- - “ Proviso when civil proceedings taken ------ Usury, — S ee Interest and Usury. “ Bank not liable to penalty for “ Provisions respecting - “ Not to render innocent party liable to penalty - - - - - “ “ “ loss of remedy - - „ Vendor, — U nj)aid, has no lien in certain cases prior to that of Bank - . - Vessel, — H ow advances on, may be secured ------- Vice-President, — H ow removed and replaced- at special general meeting “ Election of - -- -- -- -- Votes, — M ajority of, to decide questions -------- “ Of a tie. Chairman to have casting vote - - - _ ^ “ “ at annual general meeting ------- Wipe, See Shares^ Transmission of. Paoe. 17 17 18 18 18 18 18 20 20 20 23 30 30 30 31 32 10 10 10 14 22 27 27 30 38 12 13 5 18 38 93 93 93 37 38 37 37 26 38 19 20 13 18 20 r. ' •'-* f '• ■ 'y . ' ' !f}’t - i ^ ’ ' y ‘ * lit.' )t»“'‘^.*fr“ j'« r, . . ■ ; S ■■^^ ^r"' = > ■• • ■ - ■• .. "JrWVS. -, . . •«^‘; *' . ’y'V y". •:Vv< . : '■ \ •> • , y t * \ *^’.v i ' . . i : ' ’l i .\. ,.-v- 1 - ■.-J»E ^:. -■ ■■ ■;• ,• '-if- ■' ‘’' ■• '%• /r ■'* -' ■•' - yja:^ V' ■ ,y .«---t ■ - - .). ‘ 'J~ V . ' ' : . Xv ceTi- -f r 1 . - •••>/• -v'?, ,.SS ' ll , .! ■■ X ,' :( ’■ ‘♦'■^.''i*-' i' ■« ; ' ' ^ .- ^ r’-<. r''"^ ■J Vi “THE GAZETTE,” is/L