fourths of the whole of the shares voted upon at such meeting, may accept the same with or without modification as they may be instructed to do by such meeting, and thereupon may execute a valid conveyance thereof to the purchaser thereof. OTTAWA: Printed by BROWN_CHAMBERLIN, Law Printer to the Queen's Most Excellent Majesty. CHAP. 50-51 VICTORIA. CHAP. 55. An Act to incorporate the Guarantee and Pension Fund [Assented to 23rd June, 1887.] WHEREAS the persons hereinafter named, employees of the Dominion Bank, have, by petition, set forth that it is desirable that the employees of the said Bank should be empowered, with the sanction of the said Bank, to make efficient arrangements for giving security to the said Bank for the good conduct of its employees while such and subject thereto, for the payment of pensions to and providing for the support of officers and employees of the said Bank, members of the said Association, incapacitated either through age or infirmity, and upon the death of such officers and employees to pay annuities to their widows and minor children, and have prayed that they and those now and hereafter associated with them in the employ of the said Bank may be incorporated for that purpose, by the name of The Guarantee and Pension Fund Society of the Dominion Bank;" and whereas 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: Preamble. tion. 1. James Austin, the Honorable Frank Smith, Robert H. IncorporaBethune, Hamilton Kane, Raynald D. Gamble, Egerton H. Baines, and all other persons, employees of the Dominion Bank, who may, by virtue of this Act, replace or be united with them, shall be and they are hereby constituted a body politic and corporate, under the name of "The Guarantee and Corporate Pension Fund Society of the Dominion Bank," and under that name. name, by means of voluntary contributions or otherwise, as by their by-laws shall be provided, may form for the purpose aforesaid a fund to be known as the Guarantee and Pension Fund, and may invest, hold and administer the same, and with the sanction, from time to time, of the Bank, may, Powers and from and out of such fund, provide for giving security to the objects of the Bank for the good conduct of their members while in the society. service be made. service of the Bank, and subject thereto may provide for the support and payment of pensions to officers and employees of the Bank, incapacitated by age or infirmity, and upon the death of such officers or employees may pay annuities to their widows and minor children by means of pensions or in such other manner as by such by-laws may be provided; By-laws may and may make such by-laws, not contrary to law, as may be deemed advisable for the formation and maintenance of the said fund, and for the application to such purposes of the said fund, and for its investment and administration generally, and for defining and regulating in anywise as to them may seem meet, all manner of rights of the corporation and of the individual members thereof, and of the Bank in the premises, and of such officers and employees and their widows and children, and the mode of enforcement thereof, and for imposing and enforcing any description of conditional penalty or forfeiture in the premises which to them may seem meet, and for the government and ordering of all business and affairs of the corporation; and all such rights, penalties and forfeitures in the premises, whether belonging to or affecting the corporation or the individual members. thereof, or the Bank, or such officers and employees, or such widows and children, shall be such and such only, and may be obtained and enforced in such mode, and in such mode only, as by such by-laws shall be defined and limited; Amendment and with the like sanction from time to time they may amend or repeal such by-laws, observing always however to that end, such formalities or other restrictions as by such by-laws may have been provided; and generally they shall have all necessary corporate powers for the purposes of this Act. of by-laws. Security. Application of revenues. Directors and officers. 2. The security to be given by the corporation to the Bank by means of the said fund, as by such by-laws shall be provided, may in all cases be taken by the Bank, and shall enure to the benefit of the Bank. 3. All the revenues of the corporation, from whatever source they may be derived, shall be devoted exclusively to the maintenance of the corporation and the furtherance of the objects aforesaid of the said fund, and to no other purpose whatever. 4. The corporation shall have power to call the first meeting of the Society and thereafter to administer their affairs by such and so many directors and other officers, and under such restrictions touching their powers and duties as, by by-law in that behalf, they from time to time ordain; and they may assign to any such officers such remuneration as they deem requisite. Parliament. 5. The corporation shall, at all times, when thereunto Returns to required by the Governor in Council or by either House of Parliament, make a full return of their property, and of their receipts and expenditure for such period, and with such details and other information as the Governor in Council or either House of Parliament requires. OTTAWA: Printed by BROWN CHAMBERLIN, Law Printer to the Queen's Most CHAP. Preamble. 50-51 VICTORIA. CHAP. 56. An Act further to amend the Act respecting the Canadian Pacific Railway Company. WHEREAS [Assented to 23rd June, 1887.] THEREAS the Canadian Pacific Railway Company has, by its petition, represented that having already under the authority of Parliament acquired by lease the consolidated line of the Ontario and Quebec Railway Company, extending from its projected terminus in Windsor street, in the city of Montreal, to the town of St. Thomas, it is now desirous of acquiring the remainder of the railway of the said Company, constructed and to be constructed, extending from a point thereon at or near Woodstock to the Detroit River; that it has acquired by lease the consolidated line of the Atlantic and North-West Railway Company, extending from the river St. Lawrence to Mattawamkeag, known as the "Short Line"; that it is completing its branch line of railway known as the Algoma Branch, from Sudbury Junction to the Sault Ste. Marie, and is desirous of facilitating the construction of a bridge across the St. Mary River; that under the powers already possessed by the Company, it has constructed branch lines to the city of Vancouver, and to the city of New Westminster, and desires to have the location thereof confirmed, and to have authority to provide for the construction of other branch lines now authorized by its charter, by raising money upon such branch lines, for the cost of such construction or part thereof; and that it has made an agreement, subject to the authority of Parliament, for the sale to the Pontiac and Pacific Junction Railway Company, of the portion of its railway lying between the city of Hull and the town of Aylmer; and whereas it has prayed for an Act confirming the lease of the Atlantic and North-West Railway and the location of the said branch lines, and granting the necessary powers for the other purposes aforesaid; and whereas 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: |