48.
and "trade"[1] and what was meant by "gain"[2]. Questions were agitated about the registration of investment trust companies[3], land societies[4], loan societies[5] and foreign corporations[6]. And the legislature was no less active. The Parliament at Westminster enacted Companies Acts in 1867, 1877, 1879, 1880 and 1883. It enacted The Companies Seals Act 1864, the Companies (Colonial Registers) Act 1883, the Companies (Memorandum of Association) Act 1890, the Companies (Winding up) Act 1890, the Directors Liability Act 1890, The Joint Stock Companies Arrangement Act 1870, Life Assurance Companies Acts in 1870, 1871 and 1872 and the Preferential Payments in Bankruptcy Act 1888.
108 But the corporation had not yet emerged as the chief means through which individuals conducted business ventures. That was a development that was to follow the decision, in November 1896, in Salomon v Salomon & Co[7].
109 In the Australian colonies there was both litigation and legislation about corporations. As noted earlier, some of the litigation[8] focused upon whether a company incorporated in one colony was obliged to register in another colony in which it did business if it were to obtain the benefit of limited liability. Other
- ↑ Smith v Anderson (1880) 15 Ch D 247 at 258–259 held that farming and banking are both businesses though neither is strictly a "trade".
- ↑ In re Arthur Average Association for British, Foreign, and Colonial Ships; Ex parte Hargrove & Co (1875) LR 10 Ch App 542; In re Padstow Total Loss and Collision Assurance Association (1882) 20 Ch D 137.
- ↑ Smith v Anderson (1880) 15 Ch D 247.
- ↑ In re Siddall (a Person of Unsound Mind) (1885) 29 Ch D 1.
- ↑ Shaw v Benson (1883) 11 QBD 563; In re Thomas; Ex parte Poppleton (1884) 14 QBD 379.
- ↑ Bulkeley v Schutz (1871) LR 3 PC 764.
- ↑ [1897] AC 22.
- ↑ Bateman v Service (1881) 6 App Cas 386.
