The South Australian Company, also referred to as the South Australia Company, was formed in London on 9 October 1835, after the South Australia (Foundation) Act 1834 had established the new British Province of South Australia, with the South Australian Colonization Commission set up to oversee implementation of the Act. The South Australian Company was a commercial enterprise, and not officially connected to the British Government or the Colonization Commission, but turned out to be indispensable in allowing emigration to the new colony to begin. The founding board of the company, headed by George Fife Angas, consisted of wealthy British merchants, with the purpose of developing a new settlement in South Australia, building a new colony by meeting an essential financial obligations of the South Australia Act 1834. It bought up unsold land to the level required by the Act for emigration to be allowed to begin. During the first years of settlement, the company built a great deal of infrastructure and contributed to the creation of industries such as fishing and mining, and it continued to play an important part in the business affairs of the colony (and later state) of South Australia for over a hundred years. It ended business in its own right on 17 March 1949, when it was liquidated by Elders Trustee & Executor Company Ltd. Many streets in Adelaide were named after men associated with the company. Background The South Australian Association (1833–1834) had lobbied the British Government for years to set up a new colony in southern Australia. The members of the Association were men of varied backgrounds, from philanthropists to merchants, including Edward Gibbon Wakefield, Robert Gouger, Robert Torrens Sr and George Fife Angas. The Association underwent numerous negotiations and submitted and resubmitted many plans, until the British Parliament finally gave approval and passed the South Australia Act 1834 on 15 August 1834. The Association's original plan was for the colony to be more or less independent, but the government thought otherwise; a Governor would represent the Crown (British Government), and would share administration of the new colony with the London-based South Australian Colonization Commission, which would be represented in the colony by a Resident Commissioner, Surveyor-General, and various other officers. The new Act also required that a certain amount of land had to be sold in the colony before anybody was allowed to emigrate. History of the company Foundation George Fife