Joint Stock Banks Act 1844
JOINT STOCK BANKS ACT 1844 | ||
CAP. CXIII. | ||
An Act to regulate Joint Stock Banks in England. [5th September 1844.] | ||
No Joint Stock Bank established after 6th May last to carry on Business unless by virtue of Letters Patent granted according to this Act; but Companies previously established not restrained from carrying on Business until Letters Patent have been granted. | ||
‘WHEREAS the Laws in force for the Regulation of Copartnerships of Bankers in England need to be amended:’ Be it enacted by the Queen’s most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That it shall not be lawful for any Company of more than Six Persons to carry on the Trade or Business of Bankers in England, after the passing of this Act, under any Agreement or Covenant of Copartnership made entered into on or after the Sixth Day of May last passed, unless by virtue of Letters Patent to be granted by Her Majesty according to the Provisions of this Act; but nothing herein contained shall be construed to restrain any such Company established before the said Sixth Day of May, for the Purpose of carrying on the said Trade or Business of Bankers in England, from continuing to carry on the same Trade and Business as legally as they might have done before the passing of this Act, until Letters Patent shall have been granted to them severally on their Application, as herein-after provided, to be made subject to the Provisions of this Act. |