Commercial Bank Act, 1867

Contents
An Act to amend the Act of Incorporation of the Commercial Bank of Canada, to authorize its amalgamation with any other Bank or Banks, or for its winding up.
 * Preamble.
 * 1. Charter not forfeited for 90 days after passing of this Act.
 * REDUCTION AND INCREASE OF CAPITAL.
 * 2. Reduction of capital and how effected.
 * Proviso.
 * 2. Increase of stock.
 * 3. Number of additional shares, &c., to be specified in By-law.
 * 4. If more be subscribed for : how allotted.
 * 5. When to be paid up.
 * 6. Right of new shareholders.
 * 7. Votes.
 * 8. Principal office may be removed.
 * General meetings in such case.
 * CLAUSES AS TO AMALGAMATION.
 * 3. Agreement for amalgamation with another Bank ; how to be under and confirmed.
 * 4. Directors of the other Bank empowered to agree.
 * Confirmation by shareholders.
 * 5. Mode of carrying out the Union and its effect.
 * Corporate powers after union.
 * In case of conflict of provisions of the charters of the two Banks.
 * 6. Indenture of Union how proved.
 * 7. United Bank may increase its capital : Limitation.
 * 2. Requisites of By-laws for increasing capital.
 * Confirmation by shareholders.
 * 8. Principal office.
 * 9. Effect of Union as to shareholders.
 * 2. Each share to give one vote.
 * 3. Estates and assets to be voted in new Corporation.
 * 4. Liabilities of new Corporation.
 * 10. Obligations of sureties for debts, &c., not affected.
 * CLAUSES AS TO WINDING UP.
 * 11. Provision if the Bank can neither resume nor amalgamate with another.
 * Assignment to be made to Trustee:, who shall be a Corporation : their general powers.
 * 12. How the Trustees shall be chosen.
 * Notice of application by creditors.
 * If the liabilities are then less than $500,000.
 * 13. Provisions to be contained in the assignment: powers of Trustees.
 * 1. Continuing business.
 * 2. Disposing of property and assets.
 * Sale of the whole to a Bank.
 * 3. Executing deeds, &c.
 * 4. Arbitrations.
 * 5. General powers.
 * 6. Depositing money collected.
 * 7. Appointing accountants, &c.
 * 8. Making balance sheets, statements, &c.
 * 9. Declaring dividends.
 * 10. Dividing any remainder.
 * 11. Meetings of Trustees.
 * 12. Half-yearly statements.
 * 14. Estate and effects of the Bank vested in the Trustees.
 * Registration how effected.
 * 15. Signing deeds, &c.
 * 16. Remuneration of Trustees.
 * 17. Trustees representing creditors to vacate when the claims have been paid in full or reduced to less than $100,000.
 * Filling vacancies among the Trustees.
 * 18. Creditors or shareholders to a certain amount may apply to Chancery on matters connected with the Trust.
 * 19. Trustees may apply to chancery for directions.
 * 20. Liability of shareholders not affected.
 * 21. Short Title.
 * 22. Public Act.

Schedule A.

Schedule B.

Schedule A
made between the Commercial Bank of Canada, a Corporation, of the first part, and ________________ " The Trustees of the Commercial Bank of Canada " of the second part, witnesseth, that under the provisions of the Act of the Parliament of Canada passed, &c., intituled, &c., the Commercial Bank of Canada, doth grant, transfer and assign to the said Trustees, their successors and assigns, all the Bank's estate and effects, real and personal of every nature and kind whatsoever, and wherever situate ; To have and to hold the same according to the respective estates, natures and qualities thereof, unto the use of the said Trustees, their successors and assigns, upon the trusts, and for the purposes, and with the powers and authorities mentioned in the said recited Act.

Schedule B
made this ________ day of ________ between " the Trustees of the Commercial Bank of Canada " of the first past, and The ________________ Bank of the second part, witnesseth, that under the provisions of the Act of the Parliament of Canada, passed, &c., intituled, &c., the parties of the first part do grant, transfer and assign unto the party of the second part, its successors and assigns, all the estate and effects, real and personal, of every nature and kind whatsoever, and wherever situate, belonging to the trust estate of the Commercial Bank of Canada ; To have and to hold the same unto and to the use of the party of the second part, its successors and assigns forever.

The parties of the first part covenant with the parties of the second part for further assurance.