Trade, Board Of
Legal definition for Indian law research
Definition
Trade, Board of. The Board of Trade is in theory a committee of the Privy Council, and by s. 12 of the (English) Interpretation Act, 1889, the expression means 'The Lords of the Committee for the time being of the Privy Council appointed for the consideration of matters relating to trade and foreign plantations.' The constitution of the Board rests on an Order in Council of the 5th March, 1784, by which amongst the members composing it are the Archbishop of Canterbury, the Speaker of the House of Commons, the Paymaster-General and the Master of the Mint.
The Board as to constituted has in fact never met, but in practice is an ordinary administrative Government Department, presided over by a President whose salary is determined by Parliament under the (English) Board of Trade Act, 1909 (9 Edw. 7, c. 23); see also President of Board of Trade Act, 1932 (21 & 22 Geo. 5, c. 21). Its powers include supervision over the following matters: shipping, railways, mines, companies, bankruptcy and insolvency, assurance, companies, explosives inquiries, and other matters relating to trade .
As to the responsibility of members of the Board, see Kain v. Farrer, reported in The Times, 1st to 5th April and 8th to 12th May, 1879.
The Board as to constituted has in fact never met, but in practice is an ordinary administrative Government Department, presided over by a President whose salary is determined by Parliament under the (English) Board of Trade Act, 1909 (9 Edw. 7, c. 23); see also President of Board of Trade Act, 1932 (21 & 22 Geo. 5, c. 21). Its powers include supervision over the following matters: shipping, railways, mines, companies, bankruptcy and insolvency, assurance, companies, explosives inquiries, and other matters relating to trade .
As to the responsibility of members of the Board, see Kain v. Farrer, reported in The Times, 1st to 5th April and 8th to 12th May, 1879.
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