EDWARD WIIl-ILAN, QUEEN‘S PRINTER.

VOL. l.-——NU. L’U.

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Charlottetown, Prince Edward Island, \Vedncsday, July 24, 1867.

LAWS OF PRINCE

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An Act for the incorporation of a Flax Company in Prince Edward Island.

[Passed May 17, 1867.]

E it enacted by the Lieutenant Governor, _ Council and Assembly:

I. That James Douglas IIaszard, TheOphilus DesBrisay, Peter Warwick Hyndman, George Davies, William Eddison Dawson, Simon Davies, their associates, successors or assigns, be, and the same are hereby declared to be a body corporate, by the name of the “ Prince Edward Island Flax Company ;” and that they shall be persons able and capable in law to have, get, receive, take, possess and enjoy houses, lands, tenements, hereditaments and rents, in fee simple or otherwise ; and, also, goods and chattels, and all other things, r‘aI, personal or nixed ; and, also, to give, grant, let, or assign Lhe same, or any part thereof, and to do and execute all other things in and about the same, as they shall think necessary, for the benefit of the said Corporation; and, also, that they be persons able in law, and capable to sac and be sued, plead and be impleaded, answer and be answered unto, defend and be defended, in any Courts of Law and Equity, or any other places whatsoever, in as full and ample a manner as any other person or persons are in law capable of suing and being sued, pleading and being impleaded, answering and being answered unto; and, also, that they shall have one 'Common Seal, to serve for the cnse: ling all and singular their Grants, Deeds, Conveyances, Contracts, Bonds, Articles of Agreement, Assignments, Powers and Warrants of Attorney,

and all and, singular their att‘airs a rd things

touching and concerning the said Corporation, and shall, at all times, have full power, autho- rity and license to constitute, make, ordain and establish such by-laws and ordinances as may be thought necessary for the good rule and gov- ernment of the said Corporation: provided that such by-lai is and ordinances be not contradictory or repugnant to the Laws or Statutes of this Island.

II. The Capital Stock of the said Corpora- tion shall consist of Five thousand pounds, divi- ded into one thousand shares of five pounds each.

III. The said Corporation shall have full power and authority to take, receive, hold, possess and enjoy, in fee simple or otherwise, any lands, tenements, real estate and rents to any amount, not exceeding in value the sum of Four thousand pounds; and the said Corporation shall have full power to sell, lease, mortgage or otherwise dispose of the said preperty and estate as it may deem proper.

IV. Whenever forty shares ofthe said Capital Stock shall have been subscribed a general meeting of the Shareholders of the said Com- pany, or the major part of them, shall take place, by notice in two newspapers published in Charlottetown, fourteen days previous to such meeting, for the purpose of making, ordaining and establishing such by—lavs, rules and regulations, for the good management of the affairs of the said Corporation, as the members thereof shall deem necessary; and, also, for the purpose of choosing seven Directors, being members of the said Company, and hold- ing not less than three shares each in the Capital Stock ofthe said Corporation, which Directors so