II. Interpretation of terms.-In this Act The term "railway" includes a tramway authorised by Act of Parliament incorporating The Companies Clauses Consolidation Act, 1845, but not any other tramway: The term "railway company" includes every company authorised by Act of Parliament to raise any loan capital for the construction or working of a railway, or for any purposes connected with the conveyance by such company of traffic on a railway, either alone or in conjunction with other purposes: The term "debenture stock" includes mortgage preference stock and funded debt, and any stock or shares representing loan capital of a railway company, by whatever name called: The term "Act of Parliament " includes a certificate of the Board of Trade made under The Railways Construction Facilities Act, 1864, or The Railway Companies' Powers Act, 1864, or any other Act of Parliament. 1 III. Company to have registered officer.-Every railway company shall,1 always keep registered, at the office of the registrar of joint stock companies in England, the name of their secretary, accountant, treasurer, or chief cashier for the time being authorised by them to sign instruments under this Act, or, if they think fit, the names of two or more such officers of the company so authorised (and the officer so registered for the time being, and any one of the officers so registered if more than one, is in this Act referred to as the company's registered officer). 1 Words referring to original date of obligation omitted by 56 Vict. c. 14. IV. Half-years for purposes of Act.-Half-years shall, for the purposes of this Act, be deemed to end on the thirtieth day of June and the thirty-first day of December;1 but the Board of Trade, on the application of any railway company, may (by writing under the hand of one of their secretaries or assistant secretaries, which shall be registered by the railway company at the office of the said registrar) appoint, with respect to that company, other days for the ending of half-years (including the first). 1 Words referring to first year of obligation omitted by 38 & 39 Vict. c. 66. V. Loan capital. Accounts to be made half-yearly.-Within fourteen days after the end of each half-year every railway company shall make an account of their loan capital authorised to be raised and actually raised up to the end of that half-year, specifying the particulars described in the first schedule to this Act, Part I. (which account for each half-year is in this Act referred to as the loan capital half-yearly account). VI. Form of half-yearly account.-The Board of Trade may from time to time, by notice published in the London, Edinburgh, and Dublin Gazettes, prescribe the form in which the loan capital half-yearly account is to be made. VII. Account to be open to shareholders, etc.-The loan capital half-yearly account of each company may be perused at all reasonable times, without payment, by any shareholder, stockholder, mortgagee, bond creditor, or holder of debenture stock of the company, or any person interested in any mortgage, bond, or debenture stock of the company. VIII. Deposit of copy of account.-Within twenty-one days after the end of each half-year every railway company shall deposit with the registrar of joint stock companies in England a copy, certified and signed by the company's registered officer as a true copy, of their loan capital half-yearly account. T 1866. 29 & 30 VICT. Cap. 108. IX. Deposit in Scotland and Ireland.-A railway company may also, if they think fit, deposit with the registrar of joint stock companies in Scotland, or with the assistant registrar of joint stock companies in Ireland, or with each, a like copy of any loan capital half-yearly account of the company. X. Prohibition against borrowing before registration of Act giving the borrowing power.-It shall not be lawful for any railway company at any time to borrow any money on mortgage or bond, or to issue any debenture stock, under any Act of the present session or passed after the end of the halfyear to which their then last registered loan capital half-yearly account relates, unless and until they have first deposited with the registrar of joint stock companies in England a statement, certified and signed by the company's registered officer as a true statement, specifying the particulars described in the first schedule to this Act, Part II. The Board of Trade may from time to time, by notice published in the London, Edinburgh, and Dublin Gazettes, prescribe the form in which such statement is to be made. A railway company may also, if they think fit, deposit with the registrar of joint stock companies in Scotland, or with the assistant registrar of joint stock companies in Ireland, or with each, a like copy of any such statement. XI. Penalty on company failing to register, etc.—If at any time any railway company fail to keep registered as aforesaid the name of their secretary, accountant, treasurer, or chief cashier, or to deposit with the registrar of joint stock companies in England, within the time required by this Act, such a copy as aforesaid of any loan capital half-yearly account, or borrow any money on mortgage or bond, or issue any debenture stock, without having first deposited with the registrar of joint stock companies in England such a statement as they are by this Act required to deposit, in any case where they are so required, then and in every such case they shall be deemed guilty of an offence against this Act, and shall for every such offence be liable, on summary conviction, to a penalty not exceeding twenty pounds, and in case of a continuing offence to a further penalty not exceeding five pounds for every day during which the same continues after the day on which the first penalty is incurred. 1 Words "register or" omitted by 56 Vict. c. 14. XII. Power to inspect documents on payment of a fee.-Every person may inspect the documents kept by any registrar or assistant registrar under this Act on paying a fee of one shilling for each inspection as regards each railway company; and any person may require a copy or extract of any of those documents to be certified by the registrar or assistant registrar on paying for such certified copy or extract a fee of sixpence, and a further fee of sixpence for every two hundred words or fractional part of two hundred words after the first two hundred words. XIII. Fees on registration of name of officer, etc.-Every railway company on registering the name or names of any officer or officers, or depositing any account or statement, under this Act, shall pay the like fee as is for the time being payable under The Companies Act, 1862, on registration of any document other than a memorandum of association. XIV. Declaration by directors, etc., on mortgage deed, etc.-There shall be put (by indorsement or otherwise) on every mortgage deed or bond made or given after the twenty-first day of January one thousand eight hundred and sixty-seven by a railway company for securing money borrowed by the company, and on every certificate given after that day by a railway company for any sum of debenture stock issued by the company, a declaration in the form given in the second schedule to this Act, or to the like effect, with such variations as circumstances require. Every such declaration shall be signed by two directors of the company specially authorised and appointed by the board of directors to sign such declarations, and by the company's registered officer. XV. Penalty on Company, etc., if declaration omitted. If after the expiration of the time specified in the last preceding section any railway company deliver any such mortgage deed, bond, or certificate without such a declaration being first put thereon and signed as aforesaid, they shall be deemed guilty of an offence against this Act, and shall for every such offence be liable, on summary conviction, to a penalty not exceeding twenty pounds; and if any director or officer of any railway company knowingly authorises or permits the delivery of any such mortgage deed, bond, or certificate without such a declaration being first put thereon and signed as aforesaid, every such person shall be deemed guilty of an offence against this Act. XVI. Penalty on registered officer.-If any director or registered officer of a company signs any declaration, account, or statement under this Act knowing the same to be false in any particular he shall be deemed guilty of an offence against this Act. XVII. Punishment for offences against Act.-If any director or officer of a railway company is guilty of an offence against this Act, he shall be liable, on conviction thereof on indictment, to fine or imprisonment, or on summary conviction thereof to a penalty not exceeding ten pounds. XVIII. Nothing to affect liability of company, etc.-Nothing in this Act, or in any account, statement, or declaration under it, shall affect in any action or suit any question respecting any loan, debt, liability, mortgage, bond, or debenture stock as between a railway company or any director or officer of a railway company on the one side, and any person or class of persons on the other side. XIX. Account, etc., not to be evidence for company.-An account, statement, or declaration under this Act shall not be admissible as evidence in favour of a railway company of the truth of any matter therein stated. SCHEDULES. THE FIRST SCHEDULE. PART I. Particulars to be specified in Loan Capital Half-yearly Account. A. Every half-yearly account to show (1) The Act or Acts of Parliament under the powers of which the company have (3) Whether or not by any such Act or Acts the obtaining of the certificate of a justice (4) The date at which such condition has been fulfilled: (5) The amount or the aggregate amount, under the powers of such Act or Acts, actually borrowed up to the end of the half-year on mortgage or bond (distinguishing them), and then being an existing debt, and of debenture stock actually issued up to that time and then existing : (6) The amount or the aggregate amount remaining to be borrowed. B. The second and every subsequent half-yearly account to show also (7) The items described in paragraphs (2) and (5) of this part of the present schedule for 1866. 29 & 30 VICT. Cap. 108. two consecutive half-years, and the increase or decrease of any of those items in the second of those half-years as compared with the first. PART II. Particulars to be specified in Statement as to new Borrowing Power. (1) The Act of Parliament conferring the power to borrow on mortgage or bond or to (2) The amount of mortgage or bond debt or debenture stock thereby authorised: THE SECOND SCHEDULE Declaration on Mortgage Deed, Bond, or Certificate of Debenture Stock. We, the undersigned, being two of the directors of the company specially authorised and appointed for this purpose, and I, the undersigned registered officer of the company, do hereby declare (each for himself) that the within-written [or as the case may be] mortgage deed [or bond or certificate] is issued under the borrowing powers of the company as registered on the and is not in excess of the amount * day of day of there stated as remaining to be borrowed. Dated this 18 30 & 31 VICT. Cap. 80. Directors. [Secretary or Accountant, or as the case may be] and Registered Officer. Note.--Where the case so requires with reference to a statement under the First Schedule, Part II., leave out from the * to the end of the Form and insert :-on the and is not in excess of the amounts and the day of day of there stated as remaining and authorised to be borrowed. THE VALUATION OF LANDS (SCOTLAND) AMENDMENT ACT, 1867.—30 & 31 VICT. CAP. 80. AN ACT TO DEFINE THE DUTIES OF THE ASSESSOR OF RAILWAYS IN SCOTLAND II. Definition of term.-The term "permanent way" in this Act shall mean and include the line or lines of railway, bridges under and over the same, viaducts, tunnels, fences, and ditches, along the said lines, signals and apparatus connected therewith. III. One half of expense of maintaining permanent way of railways to be deducted by assessor of railways and canals before fixing cumulo value of railway. -In ascertaining the yearly rent or value in terms of the first recited Act1 of the lands and heritages in any parish, county, or burgh belonging to or leased by any railway company, and forming part of the undertaking of such company, one half of the expenses incurred in maintaining or repairing the permanent way of railways, and charged to revenue in the published accounts of such railway company for the year preceding that for which the valuation is made, shall be allowed by the assessor of railways and canals as a deduction before the cumulo yearly rent or value of each railway is fixed, provided that such assessor is satisfied that such expenses have been truly expended in maintaining or repairing the permanent way of each such railway: provided always that the cost of repairs of stations, engine houses, workshops, wharfs, docks, depots, counting houses, and other houses and places of business belonging to or leased by any railway company, and forming part of the undertaking of such company, shall not be deemed to be expenses to be allowed by the said assessor in terms of this section.2 1 Viz. 17 & 18 Vict. c. 91. 2 See N.B.R. v. Wallace (1884), 12 R. 6. IV. Amendment of sec. 22 of 17 & 18 Vict. c. 91, as to stations, etc.— . . .1 The twenty-second section of the first recited Act shall be read and construed as if the words "five pounds per centum" were substituted for the words "three pounds per centum" wherever these latter words occur in the said section of the said first-recited Act. 1 Recital of previous Act omitted by 56 Vict. c. 14. V. Separate valuation to be assigned if required before 1st April in each year to towns and populous places in which a general or local police Act is in force. The assessor of railways and canals shall, if required as hereinafter provided, specify and assign separately the value of those portions of railways included within the limits of burghs, towns, or populous places (not being burghs in the sense of the twenty-seventh section of the first-recited Act, which section shall remain in full force and effect) which have adopted or shall hereafter adopt the provisions of the Acts of the thirteenth and fourteenth Victoria, chapter thirty-three, or of the twenty-fifth and twenty-sixth Victoria, chapter one hundred and one, or in which any local Police Act is or may hereafter be in force: Provided always, that it shall not be necessary for the said assessor to assign separately the value of the portions of railways included within the limits of any burgh, town, or populous place, in terms of this section, unless on or before the first day of April in each year the town clerk or clerk of the commissioners or trustees of police thereof, as the case may be, shall have required him so to assign the same; and such town clerk or clerk of the commissioners or trustees of police, when making such requisition, shall be bound to state the lineal measurement of the portions of the railway or railways belonging to or leased by any railway company, and forming part of the undertaking thereof, situated within the limits of such burgh, town, or populous place, and the assessor shall satisfy himself as to the correctness of such measurement; and the said assessor, immediately on the completion of the valuation roll made up by him under the recited Acts and this Act, shall transmit to each town clerk or clerk of the commissioners or trustees of police so requiring him as aforesaid a certified copy of the valuation, taken from such valuation roll, of the lands and heritages within such burgh, town, or populous place, as the case may be, belonging to or leased by and forming part of the undertaking of such company; and such valuation relating to such company shall be engrossed by such town clerk or clerk of the commissioners 1867. |