CERTIFICATE RESPECTING THE PERMANENT WAY, ETC. I hereby certify that the whole of the company's permanent way, stations, buildings, canals, and other works, have during the past half-year been maintained in good working condition and repair. Engineer. CERTIFICATE RESPECTING THE ROLLING STOCK. I hereby certify that the whole of the company's plant, engines, tenders, carriages, waggons, machinery, and tools, also the marine engines of the steam vessels, have during the past half-year been maintained in good working order and repair. 1868. THE COMPANIES CLAUSES ACT, 1869.-32 & 33 VICT. CAP. 48. AN ACT TO AMEND THE COMPANIES CLAUSES ACT, 1863.—[2nd August 1869.] Preamble.1 1 Omitted by 56 & 57 Vict. c. 54. I. Amendment of Part III. of 26 & 27 Vict. c. 118, as to rate of interest on debenture stock.-Part III. of The Companies Clauses Act, 1863, shall be read and have effect as if the following words, that is to say, "not exceeding the rate prescribed in the special Act, and if no rate is prescribed, then not exceeding the rate of four pounds per centum per annum," had not been inserted in section 22 of that Act, and any special Act of a company passed before the passing of this Act, prescribing any rate, shall be read and have effect as if no rate had been prescribed therein.1 1 See Law of Rlys. p. 47. II. Restriction on rate of interest on debenture stock already authorised.— Provided, that any debenture stock, the creation whereof has been authorised by a company, but which has not been issued before the passing of this Act, shall not be issued on any terms other than those whereon it might have been issued if this Act had not been passed, unless and until the issue thereof, on terms other than as aforesaid, is after the passing of this Act authorised by the Company in manner provided in section 22 of The Companies Clauses Act, 1863. III. Power to issue debenture stock, subject to Part III. of 26 & 27 Vict. c. 118. Any company having power to raise money on mortgage or bond by virtue of any Act of Parliament, but not having power to create and issue debenture stock, may create and issue debenture stock subject to the provisions of Part III. of The Companies Clauses Act, 1863 (relating to debenture stock), and Part III. of the said Act, as amended by this Act, shall be deemed to be incorporated with the special Act of every such company. 1869. 32 & 33 VICT. Cap. 48. IV. Advances to meet debentures falling due.-Money borrowed by a company for the purpose of paying off and duly applied in paying off bonds or mortgages of the company given or made under the statutory powers of the company shall, so far as the same is so applied, be deemed money borrowed within and not in excess of such statutory powers. V. Power to issue shares or stock at discount.-Section 21 of The Companies Clauses Act, 1863, shall, with respect to any company to which it is applicable under the provisions of this or any other Act, be read and have effect as if the following words, that is to say, "but so that not less than the full nominal amount of any share or portion of stock be payable or paid in respect thereof," had not been inserted in that section. VI. Power to issue residue of original or other capital at discount.-Any shares forming part of the capital (whether original or additional) authorised to be raised by any special Act of a company passed before the present session which have not been disposed of may be disposed of in manner provided by Part II. of The Companies Clauses Act, 1863, as amended by this Act, and that Part, as so amended, shall be deemed incorporated with such special Act accordingly. VII. Restriction on issuing at discount shares or stock already authorised.— Provided, that any shares, the creation whereof has been authorised by a company, but which have not been issued before the passing of this Act, shall not be issued on any terms other than those whereon the same might have been issued if this Act had not been passed unless and until the issue thereof on terms other than as aforesaid is after the passing of this Act authorised by the company in manner provided by Part II. of The Companies Clauses Act, 1863. VIII. Act not to affect provisions as to capital upon which the dividend is limited. Provided always that this Act shall not be construed to alter or extend the provisions of any Act relating to share capital in respect of which the amount of profits to be divided is limited to a fixed rate per centum upon the paid-up capital of the company. IX. Short title. This Act may be cited as "The Companies Clauses Act, 1869." 32 & 33 VICT. Cap. 114. THE ABANDONMENT OF RAILWAYS ACT, 1869.-32 & 33 VICT. AN ACT TO AMEND THE LAW RELATING TO THE ABANDONMENT OF RAILWAYS 1 Omitted by 56 & 57 Vict. c. 54. I. Short title.-This Act may be cited as "The Abandonment of Railways Act, 1869." 1 1 As to abandonment, see Law of Rlys. pp. 899-905. II. Interpretation.-In this Act "the court" means the High Court of Chancery in England, the Court of Chancery in Ireland, or the Court of III. Construction of Act.-This Act shall be construed as one, so far as it extends to Scotland, with The Abandonment of Railways Act, 1850, as amended by The Railway Companies (Scotland) Act, 1867, and, so far as it extends to England or Ireland, with The Abandonment of Railways Act, 1850, as amended by The Railway Companies Act, 1867, and those Acts are in this Act referred to as the principal Acts. IV. Petition for winding-up of railway company may be presented under 25 & 26 Vict. c. 89, and 30 & 31 Vict. c. 131.-Where a warrant has been granted under the principal Acts for the abandonment of the whole railway of any railway company, a petition for winding up the affairs of such company may be presented under The Companies Acts, 1862 and 1867, by the company, or by any person who under the last-mentioned Act is authorised to present a petition for winding up a company, or by any person upon whose application the Board of Trade may proceed in pursuance of section thirty-two of The Railway Companies (Scotland) Act, 1867, and The Railway Companies Act, 1867, as the case may be, and for that purpose the railway company whose railway is so authorised to be abandoned shall be deemed to be an unregistered company which may be wound up under The Company's Acts, 1862 and 1867, and the provisions of the principal Acts which remain in force relating to winding-up shall be construed as if The Companies Acts, 1862 and 1867, and the winding-up provided by this section, were therein referred to. V. Application of deposit, etc.—If the warrant for the abandonment was made on condition that the money deposited as security for the completion of the railway, or the stocks, funds, or securities in which the same is invested, or the money secured by any bond conditioned for the completion of the railway, or for payment of money in default thereof, should be applied as part of the assets of the company, the court may, if it think fit, direct that such money, stocks, funds, and securities shall not be applicable for the payment of any debt or part of a debt which, regard being had to what is fair and reasonable as between all the parties interested under all the circumstances of the case, appears to the court to have been incurred on account of the promotion of the company.1 1 See in re Brampton and Longtown R. C. (1870), 10 L.R. Eq. 613; in re Laugharne R.C. (1871), 12 L.R. Eq. 454; in re Waterford, Lismore, and Fermoy R. C. (1870), 4. Ir. R. Eq. 490; in re Barry R. C. (1876), 4 Ch.D. 315. And as to similar provisions in special Acts, see Law of Rlys. pp. 902, 903. Any person who provided such money or any part thereof, or who entered into such bond, may, subject to any directions or rules of the court, attend all proceedings under this section and other proceedings in the winding-up, and apply to the court to act under this section. VI. Transfer of deposit and assignment of bond.-Where the warrant for abandonment is made on condition that the money deposited as security for the completion of the railway, or the stocks, funds, or securities in which the same is invested, or the money secured by any bond conditioned for the completion of the railway or for payment of money in default thereof, shall be applied as part of the assets of the company, the following provisions shall have effect: (1) The court in which the company is being wound up may order such money, stocks, funds, or securities, or so much thereof as is required to be applied as assets of the company, to be paid, transferred, or delivered 1869. 32 & 33 VICT. Cap. 114. out to the official liquidator, and unless the court is satisfied that the same or any part thereof are not required to be applied as assets, shall not order the same or any part thereof to be paid, transferred, or delivered out to any other person: (2) The Treasury, upon the application of the official liquidator, made with the sanction of the court, may, if they think fit, assign the bond to the official liquidator, and upon such assignment the bond shall be deemed to have been entered into with the official liquidator in his official name, and with his successors in that office, and may, subject to the sanction of the court, be enforced accordingly: (3) Any bond so assigned may, after a sufficient sum has been paid thereunder as assets of the company, be cancelled by the court. 1 Unnecessary words omitted by 56 & 57 Vict. c. 54. VII. Saving for rights to residue of deposit.-Nothing in the principal Acts or in this Act shall affect any right to that part of the money deposited as security for the completion of the railway, or of the stocks, funds, or securities on which the same is invested, or of the money secured by any bond conditioned for the completion of the railway, which is not applied in payment of the debts and liabilities of the company, or required for that purpose. VIII. Application for abandonment by judgment creditor.-Where a company, no part of the railway of which is open for traffic, has been required by any judgment or order of any court to pay a sum of money to any person or body corporate, and has made default in such payment, the Board of Trade may proceed under the principal Acts, upon the application of such person or body, in the same manner as if such person or body were mentioned in that behalf in the said section. IX. Notices under section 17 of 13 & 14 Vict. c. 83.-The notice given in pursuance of section seventeen of The Abandonment of Railways Act, 1850, may, where there is no secretary of the company, or no office of the company, require claims or demands to be sent to such person or to such place as the Board of Trade direct. X. Partial repeal of previous Acts.1 1 Repealed by Stat. Law Rev. Act, 1883, 46 & 47 Vict. c. 39. 33 & 34 VICT. THE RAILWAYS (POWERS AND CONSTRUCTION) ACTS, 1864, Cap. 19. AMENDMENT ACT, 1870.—33 & 34 VICT. CAP. 19. AN ACT TO AMend The RailWAY COMPANIES' POWERS ACT, 1864, AND THE Preamble,1 1 Omitted by Stat. Law Rev. Act (No. 2), 1893, 56 & 57 Vict. c. 54. I. Short title.-This Act may be cited for all purposes as "The Railways (Powers and Construction) Acts, 1864, Amendment Act, 1870." II. Parts of Acts herein named repealed.1 1 Repealed by Stat. Law Rev. Act, 1883, 46 & 47 Vict. c. 39. |