The Short Title of this Act shall be “The Joint Stock Companies Amendment Act 1869.”

Section forty of “The Joint Stock Companies Act 1860” is hereby repealed.

A resolution shall be deemed to be a special resolution of any Company registered under “The Joint Stock Companies Act 1860” whenever the same has been passed by a majority in number representing not less than two-thirds in value of such shareholders of the Company for the time being entitled to vote as may be present in person or by proxy (in cases where by the regulations of the Company proxies are allowed) at any meeting of which notice specifying the intention to propose such resolution has been duly given and such resolution has been confirmed by a majority of such shareholders for the time being entitled to vote as may be present in person or by proxy at a subsequent meeting of which notice has been duly given and held at an interval of not less than one month nor more than three months from the date of the meeting at which such special resolution was passed Unless a poll is demanded by at least five shareholders a declaration of the chairman of any such meeting as is mentioned in this section that a special resolution has been carried shall be deemed conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour of or against the same Notice of any meeting shall for the purposes of this section be deemed to be duly given and the meeting to be duly held whenever such notice is given and meeting held in manner prescribed by the regulations of the Company.

This Act shall apply to the New Zealand Steam Navigation Company (Limited) on the passing hereof but shall not apply to any other existing Company which shall not have first passed a special resolution as defined in section forty of “The Joint Stock Companies Act 1860” that advantage shall be taken of this Act by such Company.