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Stannaries

companies, jurisdiction and company

STANNARIES. (Latin, stannum, tin.) A term which is applied to the tin mines in Cornwall or Devon and to the peculiar customs and laws in connection with the mines. A company of more than twenty persons formed for the purpose of gain must be registered under the Companies (Con solidation) Act, 1908, unless formed under some other Act of Parliament, or of letters patent, " or is a company engaged in working mines within the stannaries, and subject to the jurisdiction of the Court exercising the stannaries jurisdiction." (See PARTNERSHIPS.) The above-mentioned Act makes certain special provisions in connection with the winding up of companies in the stannaries.

Attachment ol Debt due to Contributory on Winding up in Stannaries Court.

" Section 239. When several companies are in course of liquidation by or under the superintendence of the Court exercising the stannaries jurisdiction and acting under that jurisdiction, if it appears to the judge that a person who is a contributory of one of the companies is also a creditor claiming a debt against one of the other companies, the judge may (if after inquiry he thinks fit) direct that the debt, when allowed, shall be at tached, and payment thereof to the creditor suspended for a time certain as a security for payment of any calls that are or may in course of liquidation become due from him to the company of which he is a contribu tory ; and the amount thereof shall be applied to such payment in due course : " Provided that such an order of attach ment shall not prejudice any claim which the company so indebted to the creditor may have against him by way of set off, counterclaim, or otherwise, or any lawful claim of lien or specific charge on the debt in favour of any third person."

The Act also provides for various modifi cations with respect to preferential payments of salaries and wages. (See COMPANIES, WINDING UP.)