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Act aforesaid, as also the Act No. 9, 1868, intituled " An Act to amend the Act No. 9, 1855," and to re-enact such of the provisions thereof as it may be fitting to re-enact, together with all necessary alterations and amendments: Be it theeefobe enacted by the Governor of the Colony of the Cape of Good Hope, with the advice and consent of the Legislative Council and the House of Assembly thereof, as follows : — I. The Acts aforesaid, No. 9, 1855, and No. 9, 1868, are hereby respectively repealed. 11. Notwithstanding the repeal aforesaid, every right or claim of or against the said association, existing at the time of the taking effect of this Act shall survive for or against the said association, continued under this Act, and shall be judged of as if this Act had not been passed. 111. The said association shall be carried on in Cape Town under the style or title of the " South African Association for the Administration and Settlement of Estates." IV. The constitution and object of the said association shall be for the administration and settlement of such estates and other property as they shall be duly appointed to administer, as executors, administrators, tutors, curators, trustees, or agents, either under and by virtue of any last will or other testamentary disposition, or by virtue of any order or decree of any competent Court, or by any power of attorney or other valid instrument. V. The capital stock of the said association shall consist of the sum of twenty-nine thousand four hundred pounds sterling, which shall be divided into eighty-four shares of three hundred and fifty pounds each. VI. No shareholder shall be capable of holding more than one share, save and except any shareholder who shall at the taking effect of this Act be in possession of two shares. VII. No shareholder entitled as aforesaid to hold two shares shall be capable of holding more than one share at any time, after he shall sell or assign to any person or persons either or both of his said shares. VIII. Any shareholder wishing to sell or assign his share in the capital stock of the association shall be bound to deliver the same to the directors, to be disposed of by them, by public tender, for account and benefit of such shareholder, to such person as the said directors shall think proper, to the best advantage of the seller and the association, and the said directors shall, on such sale being effected, as the agents of such shareholder, assign and transfer the said share to the purchaser thereof by endorsement upon the certificate thereof, and thereupon such shareholder shall cease to have any claim or interest therein, provided that the said directors shall be entitled to deduct from the purchase amount a commission of one and a half per centum, together with all expenses incurred in advertising the sale of the said share. IX. In case of the insolvency of any shareholder, the trustee of his insolvent estate shall in. like manner be bound to deliver the share of such insolvent shareholder to the directors, to be disposed of by them in the manner as provided in the preceding section. X. Any shareholder may bequeath the share or shares belonging to him at the time of his death to his surviving widow (if any); and such share or shares shall be regarded and registered as if assigned to such widow by endorsement upon the certificate thereof. XL In case any shareholder shall die without having bequeathed his share or shares to his surviving widow, then the executor or other legal representative of the estate of such deceased shareholder shall be bound as aforesaid to deliver the said share or shares to the directors, to be by them disposed of in like manner as provided in the eighth section of this Act. XII. Any male shareholder shall have the right to demand that his name be submitted to the ballot, as a member at the then next ensuing general meeting, by giving notice to the directors to that effect at least fourteen days before the day of holding such meeting. XIII. No person not being a shareholder shall be eligible to become a member until he shall have deposited in the hands of the directors the amount or value of the share which shall be required to constitute him, upon his election, a member, or until he shall have given security to the satisfaction of the directors that, in the event of his election, he shall pay for such share. XIV. A general meeting of the members of the association shall be held on the last Monday in the months of January, April, July, and October, in each year, for the purpose of general business. XV. The directors for the time being shall call a general meeting of the members of the association, whenever required so to do by a requisition, in writing, signed by not less than fifteen members, and setting forth the object for which such meeting is to be called. Such requisition shall be delivered to the secretary, at the office of the association, and the meeting thereby required shall be called by the directors within five days after the delivery of such requisition, and a notice of such meeting shall be given to each member not less than eight days before the day of meeting. XVI. The directors may, at any time, upon a previous notice of eight days, as is in the lastpreceding section mentioned, call a general meeting of the members of the association for the purpose of submitting to their consideration any question or matter concerning the interests of the said association. XVII. It shall not be competent at any general meeting, held under the provisions of either of the two preceding sections, to consider any business other than that for the consideration of which such meeting shall have been convened. XVIII. No general meeting of members shall be constituted or be competent to enter upon any question or business whatever unless twenty members shall be present, and all questions at any general meeting shall be decided by a majority of votes. XIX. Every general meeting duly constituted may, upon question put and carried, be adjourned till some future day to be fixed upon by such meeting. XX. No member shall be allowed to vote by proxy, and no member present shall have more than one vote.