Banking Limitation - Law Dictionary Search Results
Bank
or partnership consisting of more than ten members shall be formed for the purpose of carrying on a banking business unless it is registered under the Act or formed in pursuance of an Act of Parliament or … Act of Parliament or of letters patent. By s. 360, the liability of the members of a banking limited company remains unlimited in respect of the bank's liability for bank-notes issued by it. As to signature of
Joint-stock Banks
Joint-stock Banks, joint-stock companies for the purpose of banking. They are regulated, according to the date of their incorporation, by charter, or by 7 Geo. 4, c. … believed that the liability of the shareholders in chartered banks is in most if not in all cases limited to some amount fixed by the charter, generally twice the amount of their shares. Under the (English) Companies
Limited liability
the amount of shares held, have also long been found (though not universally) in the charters of incorporated banks and insurance companies. Companies Acts.--Under the Companies Acts, limited liability means that the members are not liable beyond … have always limited the liability of each shareholder to the amount of the shares held by him. Similar limitations, extending in some cases to double the amount of shares held, have also long been found (though not
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bank
of money, for the extension of credit, and for facilitating the transmission of funds branch bank : a banking facility that is a separate but dependent part of a chartered bank ;esp : a facility that performs … and is separate from a main office bridge bank : a national bank that is chartered for a limited time to operate an insolvent bank until it is sold central bank : a national bank that establishes
Savings banks
Savings banks, institutions for the safe custody and increase of the small savings of the poor. See Chitty's Statutes, tit. … by any depositor in more than one Trustee Savings Bank is prohibited, and the Treasury have power to limit the amount from one person in the year. (2) Post Office Savings Banks (which have the direct security
Partnership
partners will be known and described collectively by a 'firm name' (s. 3). A limited partnership in a banking business must not consist of more than ten, and in any other business, twenty partners. [(English) Companies Act, … Act, 1929, s. 357] A limited partner remains a general partner, and does not secure for himself the limitation of liability until the limited partnership is registered with the Registrar of Joint Stock Companies, the registration being
check
or restrains see also checks and balances 2 : a written order signed by its maker directing a bank to pay a specified sum to a named person or to that person's order on demand see also … check 1 : something that limits or restrains see also checks and balances 2 : a written order signed by its maker directing a
Remuneration
given its meaning with reference to the context in which the word occurs in the statute. In the Banking Act the word 'remuneration' has been used in the widest sense. In that sense, it undoubtedly includes bonus, … 200. [Banking Regulation Act, 1949, s. 10(1)(b)(ii)] The expression 'remuneration' in Article 314 is not used in any limited sense as merely salary. If a person was in receipt of a payment, or in receipt of a
Industrial Finance Corporation
means the Indus-trial Finance Corporation of India Limited formed and registered under the Companies Act, 1956. [Industrial Development Bank of India Act, 1964, s. 2(d)] Means the Industrial Finance Corporation of India established under the Industrial Finance … Industrial Finance Corporation, means the Indus-trial Finance Corporation of India Limited formed and registered under the Companies Act, 1956. [Industrial Development Bank of India Act, 1964, s. 2(d)] Means
Government annuities
the National Debt offices without any limit on the amount, or through the Post Office or trustee savings banks up to 330l. a year. The Government Annuities Act, 1929 (c.29), con-solidates with amendments the former Acts. See … the latter Act allowing the purchase of an annuity of any amount not exceeding 100l. a year, the limit under the Act of 1864 having been 50l. a year. At the present time life annuities are granted
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