Bengal Bonded Warehouse Association Act : Proprietors of shares to be members of Association Indian Bare Acts

Bengal Bonded Warehouse Association Act,1838

Act No : 5

Section : Proprietors of shares to be members of Association

7. Proprietors of shares to be members of Association.--1* Every proprietor of a share of the said Capital Stock, who shall cease to be a proprietor of such Stock, shall cease to be a member of the corporation created by this Act; and 2* every person who shall become a proprietor of the said Capital Stock, shall become a member of the corporation created by this Act; and shall, in respect of his share or shares of the said Capital Stock, be under the same liabilities under which an original proprietor of the said Capital Stock would be. ---------------------------------------------------------------------- 1. The words "And it is hereby enacted, that" omitted by Act 12 of 1891, s.2 and Sch. I. 2. The word "that" omitted by s. 2 and Sch. 1, ibid. 5