Excerpt from The Law of Joint-Stock Companies and Other Associations: As Contained in the Statutes Relating to Joint-Stook Companies, the General Orders and Rules of the Court of Chancery, and Decisions of the Courts of Law and Equity; Together With the Industrial and Provident Societies Acts, and County Court Orders Thereo
Since the last edition of this work was published, there have been some changes in, and many additions to, the law of Joint-Stock Companies. The Companies Act of 1862 had then only just become law, and there were no judicial decisions to throw light upon its construction, or explain its difficulties. Now, however, the case is far different, and there is a mass of decisions on every leading section, which are absolutely essential to the right understanding of the Act. Nor has the Legislature in the meantime been idle with regard to this subject. Another Companies Act, that of 1867, has been passed, which, however, seems to have had less practical effect on the law than was intended; and recent legislation has also produced an Industrial and Provident Societies Act, a Companies Seals Act, and enactments for facilitating the liquidation of Companies, for enabling certain Companies to issue Mortgage Debentures, and for the application of the Winding-up provisions of the Companies Acts to Railway Companies that have abandoned their undertakings. Such have been the additions made to the law of Joint-Stock Companies within the last few years; and it necessarily follows, that the present work, attempting, as it does, to give a complete statement of that law, in its various applications, is more than a new edition - it is a new book. The provisions which regulate the abandonment of Railways have been inserted, as proceedings must be taken under them before a Railway Company can be wound-up under the Companies Acts; and it has been thought right to add the Stannaries Act of 1869, which now regulates a most important class of associations - the mining partnerships of Devon and Cornwall.
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