9. There shall be a president and one or more vice-pre- Officers. sidents and an executive council of the Association, of which council five shall form a quorum unless the by-laws otherwise provide. 10. The persons who are the president, vice-presidents and Officers of executive council of the voluntary association mentioned in association existing the preamble at the time this Act is passed shall be the continued. president, vice-presidents and executive council respectively of the Association until the first general meeting of the Association or until their successors are appointed. 11. The first general meeting of the Association shall be General meetings. held during the present calendar year at such time and place and upon such notice as the executive council may decide. Subsequent general meetings shall be held as the by-laws of the Association may provide at least once in each calendar year. officers. 12. At the first general meeting and at each annual meeting Election of thereafter the members of the Association shall elect a president, one or more vice-presidents and an executive council, all of whom shall hold office until the next annual general meeting or until their successors are appointed. officers. 13. The president, vice-presidents and executive council Executive shall be chosen from among the chief executive officers of members of the Association. 14. Unless the by-laws otherwise provide, the executive Executive council shall consist of the president and vice-presidents of the council. Association and fourteen chief executive officers, and five shall form a quorum for the transaction of business. 15. Each member and associate shall from time to time pay Dues. to the Association for the purposes thereof such dues and assessments as shall from time to time be fixed in that behalf by the Association at any annual meeting, or at any special meeting called for the purpose, by a vote of not less than twothirds of those present or represented by proxy. Association. 16. The objects and powers of the Association shall be By-laws carried out and exercised by the executive council, or under governing by-laws, resolutions, rules and regulations passed by it, but every such by-law, rule and regulation, unless in the meantime confirmed at a general meeting of the Association called for the purpose of considering the same, shall only have force until the next annual meeting, and in default of confirmation thereat shall cease to have force. Provided always, that any by-law, rule or regulation passed by the executive council may be repealed, amended, varied or otherwise dealt with by the Association at any annual general meeting or at a special general meeting called for the purpose. Power of executive to 2. For greater certainty, but not so as to restrict the generpass by-laws. ality of the foregoing, it is declared that the executive council shall have power to pass by-laws, resolutions, rules and regulations, not contrary to law or to the provisions of this Act, respecting Approval of R.S. C., c. 118. (a.) lectures, discussions, competitive papers, examinations; (b.) the journal of the Association; (c.) the subsections of the Association; (d.) clearing houses for banks; (e.) general meetings, special and annual, of the Association and of the executive council, and the procedure and quorum thereat, including the part to be taken by associates and their powers of voting; (f.) voting by proxy at meetings of the Association and of the executive council; (g.) the appointment, functions, duties, remuneration and removal of officers, agents and servants of the Association. 3. No by-law, resolution, rule or regulation respecting clearing houses, and no repeal, amendment, or variation of or other dealing with any such by-law, resolution, rule or regulation shall have any force or effect until approved of by the Treasury Board. 17. The provisions of The Companies Clauses Act, being chapter 118 of the Revised Statutes, shall not apply to the Association. SCHEDULE. BANKS BEING MEMBERS OF THE ASSOCIATION. The Bank of Montreal. The Quebec Bank. The Molsons Bank. The Bank of Toronto. The Ontario Bank. The Eastern Townships Bank. La Banque Nationale. La Banque Jacques Cartier. The Merchants' Bank of Canada. The Union Bank of Canada. The Canadian Bank of Commerce. The Dominion Bank. The Merchants' Bank of Halifax. The Bank of Yarmouth, Nova Scotia. The Bank of Hamilton. The Halifax Banking Company. The Bank of Ottawa. The Bank of New Brunswick. The Exchange Bank of Yarmouth. The Union Bank of Halifax. The People's Bank of Halifax. The Commercial Bank of Windsor. The Traders' Bank of Canada. The People's Bank of New Brunswick. The Saint Stephen's Bank. The Summerside Bank. The Bank of British North America. The Bank of British Columbia. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. CHAP. 94 An Act to incorporate the Canadian Steel Company, WH [Assented to 7th May, 1900.] HEREAS a petition has been presented praying that it be Preamble. enacted as hereinafter set forth, and it is expedient to grant the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:— 1. Edward M. Butz, of the city of Pittsburg, in the state Incorporaof Pennsylvania, one of the United States; John H. Harde- tion. beck, of Kankakee, in the state of Illinois, one of the United States; E. A. C. Pew, of Welland, in the province of Ontario, and Francis E. Hinckley, of the city of New York, in the said state of New York, together with such persons as become shareholders in the company, are hereby incorporated under the name of the "Canadian Steel Company," hereinafter Corporate called "the Company." nanie. directors. 2. The persons named in section 1 of this Act are hereby Provisional constituted provisional directors of the Company, of whom a majority shall be a quorum, and they may open stock-books and procure subscriptions of stock, and shall deposit payments Subscription thereon in a chartered bank in Canada, and withdraw the same for the purposes of the Company only. of stock. 3. The head office of the Company shall be at the city of Head office. Toronto, in the province of Ontario, or at such other place in Canada as the directors may, by by-law, from time to time determine. 4. The capital stock of the Company shall be eighteen Capital. million dollars divided into shares of one hundred dollars each, of which forty thousand may be issued as preference shares and one hundred and forty thousand as ordinary shares, and, except as otherwise provided in this Act, every share in the Company shall be deemed to have been issued and to be held subject to the payment of the whole amount thereof in cash. |