Inhaltsangabe
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1882 edition. Excerpt: ...1857, reinstating the Act of 1844 s 'f'c' 'for the purposes of such companies; and insurance companies formed in the interval between the 14th of July, 1856, the date when the Act of 1856 received the royal assent, and the 25th of August, 1857, unless incorporated or privileged by special statute or letters patent, were in (a) 19 & 20 "Vict. c. 47, s. 2: This Act shall not apply to persons associated together for the purpose of banking or insurance. It was decided in London Monetary Go. v. Smith (3 H. & K. 543), that the exception did not extend to companies combining any other business with that of insurance, and in consequence of this decision, which was afterwards overruled in Provident Society v. Ashton (12 C. B. (N.S.) 709), it was provided by s. 3 of the Companies Act, 1862, that the term "insurance company" should include company carrying on insurance in common with other business. the position of mere partnerships: Bank of London v. National Provincial Insurance Association (6 Ch. 421). The Act of 1862 finally repeals the Act of 1844, and Companies by s. 209 compels registration before the 2nd of November, "register 1862, of all insurance companies completely registered uLt under the Act of 1844; and upon registration all its provisions apply to them with the exceptions specified in s. 196: European Assurance, Ramsay's Case (3 Oh. D. 388). Non-registration does not render such companies illegal, but it subjects them to incapacity to sue or to pay dividends, and the directors to a pecuniary penalty for each day's default. Such a company is, therefore, precluded from itself presenting a petition for a winding-up: Waterloo Co. (31 B. 586). (See App. p. 298.) The Companies Act prohibits the formation after...
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