A n Act to a m e n d an A c t intituled " An Act to
" incorporate the Australian
Subscription
" and otherwise to alter and amend its
"tion."
[7th April, 1866.]
W
Library
constitu-
H E R E A S a n A c t was passed i n t h e s e v e n t e e n t h y e a r of t h e
r e i g n of H e r p r e s e n t M a j e s t y b y t h e t h e n L e g i s l a t u r e of t h i s
Colony i n t i t u l e d " An Act to incorporate
the Australian
Subscription
Library
and otherwise to alter and amend its constitution " w h e r e b y
it was e n a c t e d t h a t t h e said L i b r a r y should thereafter b e called t h e
" A u s t r a l i a n L i b r a r y a n d L i t e r a r y I n s t i t u t i o n " a n d t h e subscribers a n d
shareholders w e r e i n c o r p o r a t e d b y t h a t n a m e a n d b y t h e said A c t
v a r i o u s provisions w e r e m a d e relative to t h e c o n s t i t u t i o n a n d m a n a g e ­
m e n t of t h e said I n s t i t u t i o n A n d w h e r e a s a g e n e r a l m e e t i n g of t h e
shareholders a n d p r o p r i e t o r s of t h e said I n s t i t u t i o n was d u l y c o n v e n e d
a n d h e l d o n t h e first day of N o v e m b e r last a n d b y a d j o u r n m e n t on t h e
thirteenth
t h i r t e e n t h day of t h a t m o n t h a n d t h e f o u r t h a n d e l e v e n t h days of
D e c e m b e r last A n d w h e r e a s a t t h e said m e e t i n g c e r t a i n resolutions
w e r e adopted a n d a m o n g s t o t h e r s for i n c r e a s i n g t h e n u m b e r of shares
i n t h e p r o p e r t y of t h e said L i b r a r y a n d d i m i n i s h i n g t h e price or
n o m i n a l v a l u e thereof a n d for m a k i n g o t h e r c h a n g e s i n t h e c o n s t i t u t i o n
a n d m a n a g e m e n t of t h e said L i b r a r y w h i c h c a n n o t be carried i n t o
full effect w i t h o u t t h e aid of t h e L e g i s l a t u r e A n d it is therefore
e x p e d i e n t t o alter a n d a m e n d t h e said A c t a n d t o m a k e s u c h provisions
r e s p e c t i n g t h e said L i b r a r y as a r e h e r e i n contained B e i t therefore
enacted b y t h e Q u e e n ' s M o s t E x c e l l e n t M a j e s t y b y a n d w i t h t h e advice
a n d consent of t h e Legislative Council a n d Legislative A s s e m b l y of
N e w S o u t h W a l e s i n P a r l i a m e n t assembled a n d b y t h e a u t h o r i t y of t h e
same as follows :—
1. Section six of t h e said recited A c t is h e r e b y repealed a n d
t h e n e x t following section shall s t a n d a n d be in force i n lieu thereof.
2. T h e n u m b e r of shares shall b e a n d shall be l i m i t e d t o t w o
t h o u s a n d a n d t h e price or n o m i n a l v a l u e of each s h a r e shall be five
p o u n d s — e a c h s h a r e h o l d e r shall b e c h a r g e d w i t h t h e a n n u a l p a y m e n t of
one p o u n d p e r a n n u m in respect of each s h a r e — a s h a r e h o l d e r m a y hold
m o r e shares t h a n one a n d u p o n all occasions of v o t i n g i n t h e concerns
of t h e L i b r a r y shall b e e n t i t l e d t o vote in respect of each s h a r e w h i c h h e
m a y hold t h e r e i n — a n d t h e liability of each shareholder shall be l i m i t e d
to t h e a m o u n t of his s h a r e or shares P r o v i d e d t h a t each n o w e x i s t i n g
s h a r e h o l d e r shall i n respect of each s h a r e n o w h e l d b y h i m b e e n t i t l e d
t o four of t h e said t w o t h o u s a n d shares u p o n e l e c t i n g t o t a k e s u c h
four shares i n lieu of each s h a r e n o w h e l d b y h i m on or before t h e
thirty-first day of D e c e m b e r n e x t P r o v i d e d also t h a t u n t i l t h e said
thirty-first day of D e c e m b e r n e x t or unless h e m a k e s s u c h election
earlier e a c h n o w e x i s t i n g shareholder shall r e t a i n all t h e r i g h t s a n d
privileges n o w enjoyed b y h i m a n d shall only b e c h a r g e d w i t h t h e
a n n u a l p a y m e n t of one p o u n d for e a c h s h a r e n o w h e l d b y h i m
P r o v i d e d also t h a t if a n y n o w e x i s t i n g s h a r e h o l d e r shall n o t m a k e
s u c h election on or before t h e said thirty-first day of D e c e m b e r n o w
n e x t e n s u i n g e a c h share n o w h e l d b y h i m shall from a n d after t h a t
d a t e be a n d be d e e m e d t o b e one s h a r e of t h e said t w o t h o u s a n d
s h a r e s of five p o u n d s each a n d shall confer a n d impose u p o n h i m t h e
s a m e r i g h t s a n d liabilities as o t h e r h o l d e r s of t h e said shares of five
p o u n d s each.
3. E x c e p t as h e r e i n specially provided all t h e provisions of t h e
said recited A c t as t o t h e t h e r e i n - m e n t i o n e d one t h o u s a n d shares of
twenty-five p o u n d s e a c h shall apply t o t h e said t w o t h o u s a n d shares
of five p o u n d s each.
4. Section eleven of t h e said recited A c t is h e r e b y r e p e a l e d a n d
t h e n e x t following section shall s t a n d a n d b e i n force i n lieu thereof.
5. Some t o k e n t o b e d e t e r m i n e d on from t i m e t o t i m e b y t h e
C o m m i t t e e shall he given t o e a c h shareholder i n respect of every t w o
shares h e m a y hold a n d every holder of t w o shares shall be e n t i t l e d t o
all t h e privileges a n d a d v a n t a g e s of t h e I n s t i t u t i o n a n d h a v e free
admission for himself a n d one lady to t h e l e c t u r e s a n d shall also i n
r e s p e c t of every t w o shares h e l d b y h i m h a v e t h e r i g h t of t a k i n g o u t
t w o sets of books a t one t i m e a n d of a d m i t t i n g a visitor t o t h e
l i b r a r y a n d r e a d i n g r o o m a n d t o all t h e privileges a n d a d v a n t a g e s of
t h e I n s t i t u t i o n except t a k i n g away books a n d free admission t o t h e
l e c t u r e s E v e r y s u c h visitor shall b e a d m i t t e d u p o n p r o d u c i n g t h e
s h a r e h o l d e r s ' t o k e n a n d conforming t o t h e laws a n d r e g u l a t i o n s of t h e
L i b r a r y A n d every holder of one s h a r e shall be e n t i t l e d t o all t h e
privileges a n d a d v a n t a g e s of t h e I n s t i t u t i o n a n d free admission for
himself t o t h e l e c t u r e s b u t n o t of a d m i t t i n g a visitor t h e r e t o .
6.
4
6. So m u c h of section fourteen of t h e said recited A c t as p r o ­
vides t h a t t h e shares shall be n u m b e r e d from one t o one t h o u s a n d is
h e r e b y r e p e a l e d a n d t h e s h a r e s shall be n u m b e r e d from one t o t w o
thousand.
7. Sections fifteen a n d sixteen of t h e said r e c i t e d A c t a r e h e r e b y
r e p e a l e d a n d t h e n e x t t w o following sections shall s t a n d a n d b e i n
force i n lieu thereof.
8. T h e r e shall be a C o m m i t t e e of M a n a g e m e n t consisting of
t e n p r o p r i e t o r s or s h a r e h o l d e r s all of w h o m shall after t h e first election
b e elected a n n u a l l y a t a g e n e r a l m e e t i n g t o b e h e l d i n t h e m o n t h of
J a n u a r y i n e a c h y e a r i n t h e m a n n e r hereinafter p r o v i d e d for
And
t h e p r e s e n t C o m m i t t e e of t h e A u s t r a l i a n L i b r a r y a n d L i t e r a r y I n s t i t u ­
t i o n shall b e t h e C o m m i t t e e of t h e C o r p o r a t i o n from t h e d a y of t h e
p a s s i n g of t h i s A c t u n t i l t h e g e n e r a l m e e t i n g of t h e p r o p r i e t o r s a n d
s h a r e h o l d e r s t o be h e l d as n e x t h e r e i n a f t e r p r o v i d e d for.
9. A t a g e n e r a l m e e t i n g w h i c h shall b e h e l d w i t h i n sixty days
after t h e p a s s i n g of t h i s A c t a n d o n t h e first day of J a n u a r y or w i t h i n
t h i r t y days thereafter i n every s u b s e q u e n t y e a r t h e r e shall b e a n
election of a C o m m i t t e e for t h e m a n a g e m e n t of t h e affairs of t h e
C o r p o r a t i o n u n t i l t h e e n d of t h e c u r r e n t y e a r a n d u n t i l a n e w Com­
m i t t e e shall b e a p p o i n t e d u n l e s s t h e y or a n y of t h e m shall die r e s i g n
or cease t o b e a p r o p r i e t o r or s h a r e h o l d e r A n d w h e n a n d so often as
a n y of t h e m e m b e r s of s u c h C o m m i t t e e shall i n t h e course of t h e y e a r
of t h e i r election die r e s i g n or b e c o m e disqualified t o a c t or i n c a p a b l e
of a c t i n g a special g e n e r a l m e e t i n g shall b e c o n v e n e d w i t h i n t h i r t y
d a y s t h e r e a f t e r for t h e p u r p o s e of e l e c t i n g a m e m b e r t o fill s u c h
v a c a n c y a n d t o exercise t h e said office for s u c h t i m e a n d w i t h t h e l i k e
p o w e r as t h e p e r s o n so d y i n g h a v i n g r e s i g n e d or b e c o m i n g disqualified
t o act or i n c a p a b l e of a c t i n g w o u l d h a v e done if n o s u c h v a c a n c y h a d
o c c u r r e d E v e r y s u c h C o m m i t t e e s h a l l a t t h e i r first m e e t i n g elect
from a m o n g t h e m s e l v e s a C h a i r m a n a n d a D e p u t y C h a i r m a n a n d t h e
C o m m i t t e e shall also a p p o i n t a S e c r e t a r y a n d T r e a s u r e r .
10. E x c e p t as h e r e i n is o t h e r w i s e e n a c t e d all t h e provisions of
t h e said r e c i t e d A c t shall r e m a i n i n force a n d t h e s a m e w i t h t h e
provisions h e r e i n c o n t a i n e d shall be r e a d t o g e t h e r a n d c o n s t r u e d as
one A c t .
1 1 . T h i s A c t m a y b e cited for all p u r p o s e s as t h e " A u s t r a l i a n
L i b r a r y a n d L i t e r a r y I n s t i t u t i o n A c t A m e n d m e n t A c t of 1 8 6 6 . "