East and West India Docks and Birmingham Junction Railway Act 1846

JurisdictionUK Non-devolved
ANNO NONO & DECIMO
VICTORLE REGIME
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Cop.cccxcvi.
An Act for making
a
Railway from the East and
West India Docks to join the London and Bir-
mingham Railway at the Camden Town Station,
to be called
"
The East and West India Docks
and Birmingham Junction Railway."
[26th August 1846.]
HE RE AS the Construction of a Railway from the East and
West India Docks at Poplar in the County of Middlesex to
join the London and Birmingham Railway at the Camden
Town Station would be of great public Advantage, by expediting and
facilitating the Communication between the manufacturing Districts
and the Port of London ; And whereas the several Persons herein-after
named, with other Persons and Corporations, are willing, at their own
Expence, to carry the said Undertaking into execution, if authorized
and empowered by Parliament so to do; May it therefore please
Your Majesty that it may be enacted; and be it 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, That the 8&9Viet.
several Acts of Parliament following, (that is to say,) the Companies cc. 16,18.
Clauses Consolidation Act, 1845, the Lands Clauses Consolidation Act, *"* ^^j
1845,
and the Railways Clauses Consolidation Act, 1845, shall be withthisAct,
incorporated with and form Part of this Act.
80
R
[Local.]
II.
And
7334 9° & 10° VICTORIA, Cop.cccxcvi.
Subscribers
incorpo-
rated.
Capital.
Short Title. II. And be it enacted, That in citing this Act in other Acts of
Parliament, and in legal Instruments and in other Proceeedings, it shall
be sufficient to use the Expression " The East and West India Docks
and Birmingham Junction Railway Act, 1846."
III. And be it enacted, That Alexander Beattie, John Scott, and
Thomas Seddon Kelsall, and all other Persons and Corporations who
have already subscribed or who shall hereafter subscribe to the said
Undertaking, and their Executors, Administrators, Successors, and
Assigns respectively, shall be united into a Company for the Purpose
of making and maintaining a Railway from the East and West India
Docks at Poplar in the County of Middlesex to join the London and
Birmingham Railway at the Camden Town Station, with proper
Works and Conveniences, according to the Provisions of the said
recited Acts and of this Act, and other the Purposes herein and
in the said recited Acts contained; and for the Purposes aforesaid
such Company shall be incorporated by the Name of " The East and
West India Docks and Birmingham Junction Railway Company,"
and by that Name shall be a Body Corporate with perpetual Suc-
cession, and shall have Power to purchase and hold Lands for the
Purposes of the Undertaking, within the Restrictions herein and in
the said recited Acts contained.
IV. And whereas the estimated Expence of making the said Rail-
way is Six hundred thousand Pounds ; be it enacted, That the Capital
of the said Company shall be Six hundred thousand Pounds,
V. And be it enacted, That the Number of Shares into which the
said Capital shall be divided shall be Twelve thousand, and the Amount
of each Share shall be Fifty Pounds.
VI.
And be it enacted, That Five Pounds per Share shall be the
greatest Amount of any One Call which the Company may make on
the Shareholders, and Three Fifths of the Amount of a Share shall be
the utmost aggregate Amount of Calls that may be made in any One
Year upon any One Share, and Two Months at the least shall be the
Interval between successive Calls.
VII.
And be it enacted, That, notwithstanding any thing in this
and the said recited Acts contained or implied to the contrary, it
shall be lawful for the Directors of the Company to pay and allow
Interest after the Rate of Four Pounds per Centum per Annum on all
Calls paid in respect of the Capital hereby authorized to be raised,
from the Date of the Payment thereof until the Completion of the
Railway hereby authorized \ provided that no Interest shall accrue to
the Proprietor of any Share upon which any Call shall be in arrear,
in respect of such Share, or of any other Share held by the same
Proprietor, while such Call shall remain unpaid.
VIII. And be it enacted, That it shall be lawful for the Company
to borrow on Mortgage or Bond any Sum not exceeding in the
whole the Sum of Two hundred thousand Pounds, but no Part of
such Sum shall be borrowed until the whole of the said Capital or
Sum of Six hundred thousand Pounds shall have been subscribed for,
Number and
Amount of
Shares.
Calls.
Interest tobe
paid on Calls
till Railway
completed.
Power to
borrow"
Money on
Mortgage.
and One Half shall have been actually paid up. IX. And
& 10° VICTORIA, CVcccxcvi. 7335
IX. And be it enacted, That it shall be lawful for the Mortgagees Mortgagees
of the Company to enforce the Payment of the Arrears of Principala? enforce
arifl Interest due on any such Mortgages by the Appointment of a ^^r^by
Receiver ; and in order to authorize the Appointment of such Re- Appoint-
ceiver, in the event of the Principal Money due on such Mortgages ment of
a
not being duly paid, the Amount owing to the Mortgagees by whom Receiver-
Application shall be made shall not be less than Ten thousand Pounds
in the whole.
X. And be it enacted, That all Meetings of the Directors and of the Meetings to
Shareholders of the said Company, whether ordinary or extraordinary, £e ™j^m
shall be held in London.
XI.
And be it enacted, That the Number of Directors of the said Numberand
Company shall be Fourteen, and the Qualification of a Director shall QuaJ!ficatlon
be the Possession, in his own Right, of Twenty Shares in the said °
Undertaking.
XII.
And be it enacted, That it shall be lawful for the Company Power to
from Time to Time to increase or reduce the Number of Directors,
Y?v^^he
provided that the increased Number do not exceed Eighteen, and that Dj^ct^rrs°
the reduced Number be not less than Six.
XIII. And be it enacted, That Alexander Beattie, Thomas Seddon First Di-
Kelsall, John Lambert, William Henri Thomas, George
Reid,
John rectors-
Scott, Robert Cotesworth, Pascoe St. Leger Orenfell, Thomas Young,
Colonel the Honourable George Ansoii, Member of Parliament, Ross
Donnelly Mangles, Member of Parliament, Patrick Maxwell Stewart,
Member of Parliament, and John Lewis Prevost, shall be the first
Directors of the said Company.
. XIV. And be it enacted, That the Quorum of a Meeting of Quorum of
Directors shall be Three. irec ors"
XV. And be it enacted, That the Remuneration of the Directors llemunera-
and also of the Auditors to be appointed under the Companies Clauses tIon of Dl"
Consolidation Act, 1845, shall from Time to Time be fixed by a Auditors/1
General Meeting of the Company, and be paid out of the Funds of
such Company.
XVI. And be it enacted, That the Number of Directors of which Committees
Committees appointed by the Directors shall consist shall be not less of Directors,
than Three nor more than Six, and the Quorum of such Committees
shall be Two Thirds in Number of the same ; but such Committees
shall not have Power to make Calls for Money on the Shareholders.
XVII. And be it enacted, That the Board of Directors shall have Resident
the Power from Time to Time to appoint from among the Directors Director*
a Resident Director, upon such Terms as they may think fit, and to
remove him from the Office when and as they may from Time to
Time determine. XVIIL And

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