 The founding Board of directors were George Fife Angas (Chairman); Raikes Currie; Charles Hindley MP; James Hyde; Henry Kingscote; John Pirie, Alderman; Christopher Rawson; John Rundle MP; Thomas Smith; James Ruddell Todd; and Henry Waymouth; with Edmund John Wheeler, "Manager"; Samuel Stephens, "Colonial Manager"; and Edward Hill, "Secretary pro tem".The original purpose of the company was to help prospective colonists meet the obligations set out in the "South Australia Act 1834".The United Kingdom did not want the "province" to be a financial burden, like other colonies, and imposed certain conditions through the Act.