Registers at several offices in India to be distinguished. Transfers of Shares, &c. may be trans ferred from one register to another at the option of the holder. Locality of shares, &c. Saving of rights. bonds, debentures, mortgages, and the debenture stock, and the transfers thereof respectively, and the books so kept shall be of the like validity and effect as the books kept for the like purposes by the Company in England, and accounts of all entries and alterations made in the books of the Company in India shall be transmitted to the principal office of the same Company in England. 3. PROVIDED always, that if and when the Company have offices in India at more places than one, then the Company shall substitute for or add to the word "India" in the titles of the Register kept at every such office, the name of the place at which the particular office is established. 4. ALL transfers of any such shares, stock, bonds, and securities as aforesaid shall be made at the office at which the same respectively shall for the time being be registered, and no share, stock, bond, or security shall be on the registry of more than one office at one and the same time: Provided always, that the Company may keep in England duplicates of any of its books of register kept in India, but no such duplicate book shall be deemed a register. 5. SUBJECT to the regulations from time to time made by such Companies respectively, with respect to the issue, registration, and transfer of shares, stock, bonds, and securities respectively, and the 'registration of transfers of shares, stock, bonds, and securities respectively, every such Company may and shall, on notice in writing by the holder of any share, stock, bond, or security to the person for the time being acting as secretary, managing director, or principal clerk at the office in England or in India where such share, stock, bond, or security shall then be registered, transfer the share, stock, bond, or security from the register thereof at that office to the corresponding register at any other office of the Company where for the time being a register shall be kept to be appointed and named in such notice, and as soon as conveniently may be after the receipt of any such notice such secretary, managing director, or principal clerk shall transmit advice thereof to the office to which the transfer is directed to be made. 6. For the purpose of determining any question as to the place or jurisdiction within which any share, stock, bond, or security shall be deemed to be or to have been situate at any given time, the locality, whether in India or in Great Britain, of the register in which such share, stock, bond, or security shall be or have been actually registered for the time being, shall be deemed to be or have been at such time the locality of such share, stock, bond, or security, and so soon as notice shall have been given as aforesaid for the transfer of any share, stock, bond, or security from one register to another, the share, stock, bond, or security shall for the purpose of this section be deemed to be actually registered in the register to which it is so directed to be transferred. 7. NOTHING in this Act shall interfere with or affect any powers which are now vested in any Indian Railway Company by any Acts of Parliament by which the Company is governed. CHAPTER 44. AN ACT to facilitate the payment of certain annuities for life or years payable by the Commissioners for the Reduction of the National Debt. [21st July 1873.] HEREAS under divers Acts the Commissioners for the Reduction of the National Debt are authorised to grant annuities, and it is expedient to make further provision with respect to the payment of such annuities: Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows: warrants by 1. WHERE any Government annuities for life or years are payable by warrants Sending of of the Commissioners, such warrants may, subject to any regulations from time to time made by the Commissioners, be sent by post. Such regulations may provide for the production or transmission by post or otherwise to the persons prescribed by such regulations, of the certificates and declarations which are required by the Acts regulating the payment of the annuities to be produced before the payment of such annuities. 2. EVERY warrant, sent by post in pursuance of this Act shall be deemed to be a cheque of the Commissioners within the meaning of any Act relating to cheques. Every annuitant desirous of having a warrant for his annuity sent to him through the post shall give to the Commissioners an address in the United Kingdom, or in the Channel Islands, or the Isle of Man, to which the letter containing such warrant is from time to time to be sent. The posting by the Commissioners of a letter containing a warrant addressed to an annuitant at his request at the address given by him to the Commissioners shall, as respects the liability of the Commissioners or the Consolidated Fund, be equivalent to the delivery of the warrant to the annuitant himself. 3. ANY sum payable by the Commissioners in respect of a Government annuity on the death of a nominee which is claimed within the period specified in the enactments regulating the payment of such sum, may, if the Commissioners think fit, be paid at any time after the expiration of thirty days after proof of such death. 4. In this Act The term "the Commissioners" means the Commissioners for the Reduction of the National Debt: The term "Government annuities" means annuities granted either before or after the passing of this Act, in pursuance of the Acts mentioned in the schedule to this Act, or any of them, or of any Acts repealed by those Acts, or of any other Acts authorising the Commissioners to grant annuities for life or years, and includes annuities payable by the Commissioners in pursuance of any of the said Acts. post. Effect of warposting of rant and of warrant. Provision as to payment on death of nominee. Definitions. warrant. 5. THE term "warrant," when used in this Act or in the Acts mentioned Definition of in the schedule to this Act, or in any Acts under which Government annuities have been granted, shall be deemed to include any draft, order, cheque, or other document for the time being used by the Commissioners as a medium for the payment of any Government annuities. Construction of Act. Short title. 6. THIS Act together with the Acts mentioned in the schedule to this Act may be cited as the Government Annuities Acts, 1829 to 1873; and this Act and each of those Acts may be cited as the Government Annuities Act of the year in which it was passed. SCHEDULE. GOVERNMENT ANNUITIES ACTS. Session and Chapter. Title. An Act to enable the Commissioners for the Reduction of the An Act to amend an Act of the tenth year of His late Majesty An Act to grant additional facilities for the purchase of small CHAPTER 45. AN ACT to authorise the Commissioners of Her Majesty's Treasury to guarantee WHEREAS one of the terms and conditions on which the colony of British Columbia was admitted into union with the Dominion of Canada, by an Order in Council of the sixteenth day of May one thousand eight hundred and seventy-one, was that the Government of the Dominion should secure the construction of a railway (in this Act referred to as the Pacific Railway) to connect the seaboard of British Columbia with the railway system of Canada, in manner more particularly mentioned in the schedules to such Order: And whereas the Government of the Dominion of Canada propose to raise by way of loan for the purpose of the construction of the Pacific Railway, and also for the improvement and enlargement of the Canadian canals, a sum of money not exceeding eight million pounds: And whereas by an Act of the Parliament of Canada of the year 1868, chapter forty-one, the Governor in Council was authorised to raise by way of loan upon the guarantee of the Commissioners of Her Majesty's Treasury (in this Act referred to as "the Treasury "), for the purpose of the construction of the fortifications therein mentioned, sums not exceeding one million one hundred thousand pounds: c. 82. And whereas by the Canada Defences Loan Act, 1870, the Treasury were 33 & 34 Vict. authorised to guarantee the payment of the principal of such loan and of interest thereon at a rate not exceeding four per cent.: And whereas no portion of the last-mentioned loan has been raised, and no such guarantee has been given : And whereas it is expedient to authorise the Treasury to guarantee a portion, not exceeding two millions five hundred thousand pounds, of such loan of eight million pounds for the above-mentioned purposes, and to guarantee a further portion of the said loan not exceeding one million one hundred thousand pounds in substitution for a guarantee of a loan under the Canada Defences Loan Act, 1870: Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows: 1. THIS Act may be cited as the Canada (Public Works) Loan Act, Short title. 1873. 2. THE Treasury may guarantee in such manner and form and on such conditions as they think fit the payment of the principal of and interest (at a rate not exceeding four per cent. per annum) on all or any part of any loan raised by the Government of Canada for the purpose of the construction of the Pacific Railway, and the improvement and enlargement of the Canadian canals, so that the total amount so guaranteed from time to time do not exceed three million six hundred thousand pounds. Power to guarantee loan. 3. THE Treasury shall not give any guarantee under this Act unless and Conditions of until provision is made by an Act of the Parliament of Canada or otherwise guarantee. to the satisfaction of the Treasury— (1.) For raising and appropriating the said proposed loan of eight million pounds: (2.) For charging the consolidated revenue fund of Canada with the payment of the principal and interest of any loan guaranteed by the Treasury under this Act immediately after the charge of the loan for fortifications created by the said Act of the Parliament of Canada of the year one thousand eight hundred and sixty-eight, chapter forty-one : (3.) For payment by the Government of Canada of a sinking fund at the rate of one per cent. per annum on the entire amount of the loan guaranteed by the Treasury under this Act, and for charging the consolidated revenue fund of Canada with the payment of such sinking fund immediately after the principal and interest of the lastmentioned loan: (4.) For charging the consolidated revenue fund of Canada with any sum issued out of the Consolidated Fund of the United Kingdom under this Act with interest thereon at the rate of five per cent. per annum, immediately after the said sinking fund: (5.) For the due payment and application of the money raised by any loan guaranteed by the Treasury under this Act in such manner as the Treasury from time to time direct: VOL. XVII. с Application of sinking fund. Alteration of Act relating to guaranteed loan. Issue out of Certificate of amount paid dated Fund. (6.) For remitting to the Treasury the annual sums for the sinking fund by equal half-yearly payments, in such manner as they from time to time direct, and for the investment and accumulation thereof under their direction in the names of four trustees nominated from time to time, two by the Treasury and two by the Government of Canada. The Treasury may guarantee the loan in such portions as they think fit, and before guaranteeing any portion of the loan after the first, shall satisfy themselves that the portion of the loan previously guaranteed (or an equal amount of any other loan of the Government of Canada), together with an equal amount of that portion of the said loan of eight million pounds which is not guaranteed by the Treasury, has been or is in the course of being spent for the purposes mentioned in this Act. 4. THE said sinking fund may be invested only in such securities as the Government of Canada and the Treasury from time to time agree upon, and shall whether invested or not be applied from time to time, under the direction of the Treasury, in discharging the principal of the loan guaranteed by the Treasury under this Act, and the interest arising from such securities (including the interest accruing in respect of any part of any loan discharged by means of the sinking fund), and the resulting income thereof shall be invested and applied as part of such sinking fund. 5. EVERY Act passed by the Parliament of Canada which in any way impairs the priority of the charge upon the consolidated revenue fund of Canada created by that Parliament of the loan guaranteed under this Act, and the interest and sinking fund thereof, and the sums paid out of the Consolidated Fund of the United Kingdom and the interest thereon, shall, so far only as it impairs such priority, be void, unless such Act has been reserved for the signification of Her Majesty's pleasure. 6. THE Treasury are hereby authorised to cause to be issued from time to time, out of the growing produce of the Consolidated Fund of the United Kingdom, such sums of money as may at any time be required to be paid to fulfil the guarantee under this Act in respect either of principal or interest. 7. THE Treasury may from time to time certify to one of Her Majesty's out of Consoli- Principal Secretaries of State the amount which has been paid out of the Consolidated Fund of the United Kingdom to fulfil the guarantee under this Act, and the date of such payment; such certificate shall be communicated to the Governor of Canada, and shall be conclusive evidence of the amount having been so paid and of the time when the same was so paid. Accounts to be laid before Parliament. 8. THE Treasury shall cause to be prepared and laid before both Houses of Parliament a statement of any guarantee given under this Act, and an account of all sums issued out of the Consolidated Fund of the United Kingdom for the purposes of this Act, within one month after the same are so given or issued, if Parliament be then sitting, or if Parliament be not sitting, then within fourteen days after the then next meeting of Parliament. |
