ABSTRACT
T H E J O I N T S T O C K B A N K I N G C O D E , 1844-62
7 & 8 VICT. c. 113.
An Act to regulate the Joint Stock Banks in England.
(5th September 1844.)
Whereas the Laws in force for the Regulation of Copartnerships of Bankers in England need to be amended: Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That it shall not be lawful for any Company of more than Six Persons to carry on the Trade or Business of Bankers in England, after the passing of this Act, under any Agreement or Covenant of Copartnership made or entered into on or after the Sixth Day of May last passed, unless by Virtue of Letters Patent to be granted by Her Majesty according to the Provisions of this Act; but nothing herein contained shall be construed to restrain any such Company established before the said Sixth Day of May, for the Purpose of carrying on the said Trade or Business of Bankers in England, from continuing to carry on the same Trade and Business as legally they might have done before the passing of this Act, until Letters Patent shall have been granted to them severally on their Application, as herein-after provided, to be made subject to the Provisions of this Act. II. And be it enacted, That before beginning to exercise the said Trade or Business every such Company shall present a Petition to Her Majesty in Council, praying that Her Majesty will be
graciously pleased to grant to them Letters Patent under this Act; and every such Petition shall be signed by Seven at least of the said Company, and shall set forth the following Particulars; (that is to say,)
First, The Names and Additions of all the Partners of the Company, and the Name of the Street, Square, or other Place where each of the said Partners reside:
Second, The proposed Name of the Bank: Third, The Name of the Street, Square, or other local Descrip-
tion of the Place or Places where the Business of the Bank is to be carried on:
Fourth, The proposed Amount of the Capital Stock, not being in any case less than One hundred thousand Pounds, and the Means by which it is to be raised:
Fifth, The Amount of Capital Stock then paid up, and where and how invested :
Sixth, The proposed Number of Shares in the Business: Seventh, The Amount of each Share, not being less than One
hundred Pounds each.
