Companies to subdivide their shares. MV = Austin, who at the time was administering the ROC (Records Office Circular) directed me to prepare the necessary Bill for the legislature, being of opinion that the law of the Colony concerning Joint Stock Companies ought to be assimilated to the Imperial Law on the subject.
3. He did so, which was substantially a transcript of the English Act, omitting such portions as are not applicable to local circumstances, was read a first time on the 25 August 1848. The second reading was postponed from time to time to enable members to consider its provisions, and afterwards to give the Chief Justice time to mature certain objections, which he desired to make to the principle of the Bill.
During the discussion which took place at the several meetings and in the printed statement of objects and reasons it was distinctly stated to and understood by the Council that the reason for introducing the Bill at the time was, that this particular company was taking advantage of its provisions; a circumstance which afforded good ground for offering the measure.
4. Eventually on the 5 March 1876, the Bill came forward again.
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