statement to (4) A company, institution or corporation licensed under Annual this section shall on or before the thirty-first day of Janu- be furnished. ary in every year during the continuance of such license make a statement to the Territorial Secretary verified by affidavit containing, as of the thirty-first day of December preceding, a summary of the following particulars: (a) The corporate name of the company, institution or (b) The manner in which the company, institution or (c) The place where the head office of the company, (d) The place or places where or from which the under- (e) The name, residence and post office address of the (f) The name, residence and post office address of each (g) The date upon which the last annual meeting of (i) The number of shares subscribed for and allotted; (k) The amount issued subject to call; (1) The number of calls made on each share; (0) The total amount of shares forfeited; (P) The total amount of shares which have never been (q) The total amount for which shareholders of the (r) In a concise form any further information_respect- (5) The summary in the next preceding subsection Summary to mentioned shall be verified by the affidavit of the president be verified. and secretary and if there is no president or he is unable to make the same by the affidavit of the secretary and one of the directors, and if there is no secretary or he is unable to make such affidavit by the affidavit of the president and one of the directors and if there is neither a president or secretary or they are both unable to make such affidavit, by the affidavit of two of the directors and if the president or 31-Y. o. Penalty for default. Commissioner may suspend or revoke license. Amount of paid up capital to appear on secretary does not make or join in the affidavit the reason therefor shall be stated in the substituted affidavit. (6) Any company, institution or corporation making default in complying with the provisions of this section shall be liable to a penalty of $50 for each and every day during which default continues; and every director, manager, secretary, agent, traveller or salesman of such company, institution or corporation who transacts within the Territory any business whatever for such company, institution or corporation shall, for each day upon which he so transacts such business, on summary conviction thereof before a justice of the peace incur a penalty of $50, such penalties to belong to the general revenue fund of the Territory. (7) The Commissioner may by Order (a notice of which shall be published by the Territorial Secretary in the Yukon Official Gazette or otherwise as may be prescribed in the said Order) suspend or revoke and make null and void any license granted under this section to any company, institution or corporation which refuses or fails to comply with any of the provisions of this section and (notwithstanding such suspension or revocation) the rights of creditors of the company, institution or corporation shall remain as at the time of such suspension or revocation. N.W.T., c. 62, s. 2. 3. Every company, institution or corporation licensed under this Ordinance shall have written or printed on its prospectuses, notices, advertisements and other official all documents. publications and in all bills of parcels, invoices and receipts of the company, institution or corporation immediately after or under the name of such company, institution or corporation the amount of its paid up capital and every such company, institution or corporation which refuses or neglects to comply with this section shall be liable to a penalty not exceeding $20 for each such offence; and every director, manager or agent of any company, institution or corporation who knowingly authorizes or permits such default shall on summary conviction thereof be liable to the like penalty, such penalties to belong to the general revenue fund of the Territory. N.W.T., c. 62, s. 3; No. 4 of 1901, s. 2 and 3. 4. The Commissioner may from time to time appoint a person with salary to prosecute any company, institution or corporation making default in complying with the provisions of this Ordinance. No. 4 of 1901, s. 4. 5. No license shall be issued to any company unless such company has paid to the Territorial Treasurer the proper fee according to the tariff of fees in the schedule to this Ordinance provided. No. 6 of 1902, s. 4. 6. No company requiring a license under this Ordinance shall carry on any part of its business in the Yukon Territory until it has been duly licensed under this Ordinance. No. 6 of 1902, s. 5. 7. Any such company carrying on business without being duly licensed, and any company, firm, broker or other persons carrying on business as a representative or on behalf of such company shall be liable on summary conviction to a penalty of $50 for every day on which such business is carried on in contravention of this section, and proof of compliance with the provisions of this section shall at all times be upon the accused. (2) The taking orders for or the buying or selling goods, wares and mechandise by travellers or by correspondence if the company has no resident agent or representative, and no office or place of business in the Yukon Territory, the onus of proving which shall in any prosecution under this section rest on the accused, shall not be deemed to be carrying on business within the meaning of this Ordinance. No. 6 of 1892, s. 6. 8. No such company shall while unlicensed, be capable of maintaining any action or other proceeding in any court in respect of any contract made in whole or in part in the Territory, in the course of or in connection with business carried on without a license contrary to the provisions of section 6 hereof. (2) In any action or proceeding the burden of showing that it is licensed shall be upon the company. No. 6 of 1902, s. 7. SCHEDULE.-SEC. 5. TARIFF OF FEES. If the capital stock is $400,000 or more... .. $500,00 400.00 If the capital stock is $100,000 or more, and less than $200,000..... 300.00 If the capital stock is $40,000 or more, and less than $100,000 ... 200 00 If the capital stock is $10,000 or more, and less than $40,000.................. 150.00 If the capital stock is less than $10,000... 100.00 Disposition of stock. Limitation of shareholders' liability. Certificates to contain. CHAPTER 60. An Ordinance respecting Mining Companies. 1. Any company incorporated by letters patent under The Companies' Ordinance for mining purposes may from time to time dispose of shares and stock at such times to such persons and on such terms and conditions and at such premium or discount or in such manner as the directors think advantageous to the company; provided however that no by-law for the reduction or sale of stock at any greater discount or at any less premium than what has been previously authorised at the general meeting of the shareholders shall be valid or acted upon until the same has been confirmed at a general meeting. N.W.T., c. 64, s. 1. 2. Where application is hereafter made to the Commissioner for the incorporation by letters patent under said Ordinance of any company for mining purposes, such letters patent may if the petition of the applicants so requires contain a provision that no liability beyond the amount actually paid upon stock in such company by the subscribers thereto or the holders thereof shall attach to such subscriber or holder. N.W.T., c. 64, s. 2. 3. Where letters patent incorporating any such company of stock, what have been issued containing the provision mentioned in section 2 of this Ordinance every certificate of stock issued by the company shall bear upon the face thereof distinctly written or printed in red ink after the name of the company the words "Issued under section 2 of An Ordinance respecting Mining Companies and non-assessable." Where such stock is issued subject to further assessments the word assessable" or if not subject to further assessments the word "non-assessable" shall be used on such certificate as the case may be. N.W.T., c. 64, s. 3. "Nonpersonal liability" to appear on documents issued by company. 4. Every mining company the charter of which contains the said provision shall have written or printed on its charter, prospectuses, stock certificates, bonds, contracts, agreements, notices, advertisements and other official publications and in all bills of exchange, promissory notes, indorsements, cheques and orders for money or goods purporting to be signed by or on behalf of the company and in all bills of parcels, invoices and receipts of the company immediately after or under the name of such company and shall have engraved upon its seal the words "non personal liability," and every such company which refuses or neglects to com ply with this section shall on summary conviction thereof incur a penalty of $20 for each day during which such words are not so kept written or printed; and every director and manager of the company who knowingly and wilfully authorizes or permits such default shall on summary conviction thereof be liable to the like penalty. N.W.T., c. 64, s. 4. nonpayment 5. In the event of any call or calls on stock in a com- Sale of pany so incorporated remaining unpaid by the subscriber stock on thereto or holder thereof for a period of sixty days after of calls. notice and demand of payment such stock may be declared to be in default and the secretary of the company may advertise such, stock for sale at public auction to the highest bidder for cash by giving notice of such sale in some newspaper published at the place where the principal office of the company is situated or in case no newspaper is published thereat then in a newspaper published in the nearest place to said office for a period of one month; and said notice shall contain the number of the certificate or certificates of such stock and the number of shares, the amount of the assessment due and unpaid and the time and place of sale; and in addition to the publication of the notice aforesaid notice shall be personally served upon such stockholder by registered letter mailed to his last known address; and if the subscriber or holder of such stock shall fail to pay the amount due on such stock with interest upon the same and cost of advertising before the time fixed for such sale the secretary shall proceed to sell the same or such portion thereof as shall suffice to pay such assessment together with interest and cost of advertising: Provided that if the price of the stock so sold exceed the amount due with interest and costs thereon, the excess thereof shall be paid to the defaulting stockholder. N W.T., c. 64, s. 5. 6. No shareholder or subscriber for stock in any com- Extent of liability of pany so incorporated shall be personally liable for non- shareholders. payment of any calls made upon his stock beyond the forfeiture and sale, in the event of non-payment of such calls of the amount if any already paid on the stock held or subscribed for nor shall such shareholder or subscriber be personally liable for any debt contracted by the company or for any sum payable by the company beyond the amount if any paid by him upon such stock. N.W.T, c. 64, s. 6. of other Ordinances. 7. Section 8 of The Companies Ordinance as well as all Application other parts of such Ordinance and of other Ordinances as are not inconsistent with this Ordinance shall apply to mining companies. N.W T., c. 64, s. 7. |