company, qua Foreign Company
The affairs of such Company would be
Carried on
by a gérant, or Agent, who
would be personally responsible for the Contracts of the company, while the Direction of the
Company might remain in the Country of
its origin.
2. There is unfortunately no provision made
or
in the Colony for the Registration Government of Joint-Stock Companies. The function of a Joint-Stock Company,
in the mother Country a mode of partnership Altogether modern, is in this Colony
utterly impracticable, without special legislation.
3. It remains, therefore, that one
of Dr Bridges's propositions must be adopted,
to give effect to the Views of the Gentlemen
whom he represents. Either a Grant of the Privilege of supplying the City with Gas must be made to the existing Company; or
a new local Company must be incorporated by the Legislature, - unless indeed a Charter be obtained direct from
the Crown.
4. It appears to me, though not perfectly
clear on the point, that
any application
for
an Ordinance for
incorporation of a joint-Stock Company must be
referred to the Secretary of State, under Section 340 of the Colonial Regulations,
(Edition 1836) though the word used in the
Section is "charter", - which may
mean
simply
Royal charter. Should Incorporation of a
New Company by local Ordinance be resolved
on
for the purposes
under consideration, I