The Sun.
London, England, 1825-05-05 00:00:00

MR. PETER MOORE'S bin

FOU-THE.,
REGULATION OF JOINT-STOCK COMPANIES

The preamble recites the 6 G. 1. c. 18. §. 18,
9 ; and goes on— ,
" IVlireas, by reason of the increasing wealth and prospe-
rity of this country, and of the large surplus capital which hath
been and still continues afloat and uninvested by his present Ma-
jesty's liege subjects, various Partnerships, Associations or Join t-
Stock Companies, for working Foreign and British Mines, for

Insuring Lives and Houses in Great Britain and elsewhere, for
Lighting England and other Countries with Gas, for carrying
on certain lawful Trades and Businesses on an extensive and
lucrative scale, and for various other useful and beneficial pur-
poses, have been established during the last twelve months,
and which do not manifestly tend to the common grievance pre-

judice and inconvenience of his Majesty's subjects in their trade'
or commerce, and other their affairs ; but the said Partner-
ships, Associations or Joint-Stoek Companies, have not many
of. them been established, cither by Act of Parliament
or Charter from the Crown, in the manlier mentioned, in
the said recited Act, but have been established, and are

establishing under certain deeds, called Deeds of Settle-
ment, or Deeds of Partnership, or Deeds of Association',• and

- ,
which deeds are to the.efibct and of the same kind as ordinary

partnership deeds between.traders and others in Majesty's
dominion, by which all the parties executing such deeds bind
themselves tacontinue in-partnership for, thq- purposes and ob.;

jects for which such joint stock .companies, partnerships or as-
sociations are established, subject to the rules and regulations
mentioned in such deeds of settlement, or deeds of Partnership,
or deeds of association. And whereas, under and by virtue of
such deeds, it is in most cases rendered lawful for the parties
originally executing the same, and also forall other parties who
may thereafter execute the same, to sell and dispose of their
sharps and interests in the capital joint stock and produce of
the said joint stock companies, partnerships or associations, for
. such price or prices as he she 9r they may think fit, and to such
-person or persons as he she or they may approve, provided the
directors, managers, managing partners or other persons having
the controul, direction or management of the said company,
under. the:said deeds of settlement association or partnership,
approve of the'sarne."
And then repeals the 6th Geo. I. c. 13, see. 18, 19.
The second section recites that it is desirable that the share-
holders in, companies should be protected by law, and that his
Alajesty's.subjects should be also projected from fraud, and
enacts—

in case

". That from and after the
any person or,persons, as projectors, solicitors, directors, trea.
curers, banker, auditors, or as a committee of management, or
as proprietors, secretaries, clerks, or in any other capacity
whatsoever, of a proposed joint stock company, association, or
Partnership, shall, by public advertisement or by letter, or by
public meeting or otherviise, issue a prospectus or advertise-
ment, or make any statement, either verbally at a meeting or
in writing 'or otherwise, with a, view of inducing or of being
the means of inducing any person or persons to apply for
shares in any intended joint stock company or partnership,
which may be by such person or persons in any way whatsoever
proposed to.be established, such person or persons so issuing
such prospectus or advertisement, or making such announce-
ment, either verbally or in writing, or by any printed state-
ment or otherwise, shall he -deemtd and taken to be and shall
be considered as the parties answerable to the proposed share-
. holders of and in the said joint stockcqmpany or partnership,
1 and shall be personally and individunll,y responsible to them."
The remaining Sections enact as follqw
In case persons establishing a Compiny shall have' required
a deposit from the Shareholders, the parties requiring the pay-
ment are to he answerable for its return in case- thesame is de-
manded ;- and the Deed of Settlement. not executed within
calendar months. But in case the Deed of Settlement
shall be executed, then the original projectors, ace. shall be
no longer liable.
If Deed of Settlement be not executed within calendar
months, the Company to be dissolved.
In case Deed of Settlement not executed, and money re-
quired to be repaid, then the money, paid towards the Capital
Stock to be reimbursed. The money to be returned within

days after notice.
If money not returned, the offender to forfeit treble the sum
demanded, exclusive of the sum demanded. Penalty to be
levied by distress. If distress inadequate, the offender to be

committed to prison.
Act not to extend to Partnerships or Joint Stock Companies
formed before the passing of this Act:
Act not to extend to Companies established by Charter, or
by Act of Parliament.

The Emperor of RUSSIA has made a donation,
through Mr Von STRIATE, his Minister at llam.
burgh, of 1050/. sterling)
36,000 rubies (about-
-to the inhabitants of that city, who suffered by
the inundations in the mouth of February.