Great Northern Railway (Junctions) Act 1865

Publication Date:January 01, 1865
 
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Great Northern Railway (Junctions) Act 1865

(28 & 29 Vict.) c. ccxvi

An Act to authorize the Great Northern Railway Company to construct certain short Lines of Railway at Newark, Spalding, Essendine, and Barkstone; and for other Purposes.

[5th July 1865]

ANNO VICE SI MO OCTAVO & VICESIMO NONO VICTORLE REGESLE. Cap. ccxvi. An Act to authorize the Great Northern Railway Company to construct certain short Lines of Railway at Newark, Spalding, Essendine, and JBarkstone; and for other Purposes. [5th July 1865.] W HERE AS it would conduce to the public Convenience that the Or eat Northern Railway Company (who are meant when the Expression " the Company" is herein-after used) should be authorized to make a Communication between their Rail way and the Midland Railway at Newark, together with a Branch on the Quay of the Trent at Newark, and that they should also be authorized to improve the Communicatiops with the Spalding and March, the Bourn and Essendine, and with the Boston, Sleaford, and Midland Counties Portions of their Undertaking : And whereas Plans and Sections showing the Lines and Levels of the Railways, and also a Book of Reference containing the Names of the Owners and Lessees or reputed Owners and Lessees and of the Occupiers of the Lands required or which may be taken for the Purposes of the Railways, have been deposited with the respective Clerks of the Peace for the Parts of Kesteven and Holland in Lincolnshire, for the Counties of Nottingham and Rutland, and the West Riding of the County [Local.] 34 Y of 3122 28 & 29 VICTORIA, Cap . ccxvi. The Great Northern Railway {Junctions) Act, 1865. 27 & 28 Vict. c. ccxc. of York ; And whereas by " The Liverpool Central Station Railway Act, 1864," a Company was incorporated for the Construction of a Railway within the Borough of Liverpool in extension of the Garston and Liverpool Railway, of which the Great Northern Railway Company are joint Owners with the Manchester, Sheffield, and Lincolnshire Railway Company, and it is expedient that the Great-Northern Railway Company should be empowered to contribute towards the Cost of the Construction and Maintenance of the Works authorized by the said Act: And whereas the Purposes aforesaid cannot be effected without the Authority of Parliament: 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, as follows ; (that is to say,) Short Title. 1. This Act may be cited for any Purpose as " The Great Northern Railway (Junctions) Act, 1865." 8&9Vict. 2. "The Lands Clauses Consolidation Act, 1845," " The Lands 23&82-fvkt Clauses Consolidation Acts Amendment Act, I860," " The Railways c. 106., and Clauses Consolidation Act, 1845," and Part I. of " The Railways 26922-7ViCt' Clauses Act' 1863 " (relating to Construction of a Railway,) shall be porated. incorporated with and form Part of this Act. Interpretation of Terms. s 3. In this Act the Words " the Company" mean the Great Northern Railway Company, the Words " the Railways " mean the Railways and the Works connected therewith by this Act authorized to be constructed, and the Expression " Superior Courts " or " Court of competent Jurisdiction," or other like Expression in this Act or any Act incorporated herewith, shall be read and have Effect as if the Debt or Demand with respect to which the Expression is used were a common Simple Contract Debt, and not a Debt or Demand created by Statute. 4. The several Words and Expressions to which by the Acts wholly or partially incorporated with this Act Meanings are assigned Same Meanings to Words &c* in inco'rpo- shall have in this Act the same respective Meanings, unless there be as in thisAct. rated Acts m the Subject or Context something repugnant to or inconsistent with such Construction. Power to Company to apply their Funds towards Purposes of Act, andmayraise additional Capital by new Shares. 5, It shall be lawful for the Company to apply towards the Construction of the Works authorized by this Act any of the Monies which they are already authorized to raise, and which may not be required by them for the Purposes of their Undertaking; and the^ Company may for the same Purposes from Time to Time raise, in addition to the Sums of Money which they are already authorized to raise, any further Sums not exceeding in the whole One hundred and fifty thousand Pounds, by the Creation of new Shares or Stock m 28 & 29 VICTORIA, Gsp.ccxvi. 3123 The Great Northern Railway (Junctions) Act, 1865. in their Undertaking, which Shares or Stock shall form Part of the general Capital of the Company, and may be issued at such Price (being not less than the nominal Value thereof) and upon such other Terms and Conditions as may be determined on by Three Fifths at least of the Votes of Shareholders present personally or by proxy at any Extraordinary General Meeting of the Company convened with due Notice of the Object. 6. The Company may, with the Consent of Three Fifths at least Privileges of the Votes of their Shareholders present personally or by proxy at may h at" any Extraordinary Meeting convened with due Notice .of the Object, new shares. attach to all or any of the Shares to be created under the Powers of this Act any preferential Dividend, with or without other Privileges, which the Company may think fit, and may also attach to the said Shares a Condition that the same may be redeemed upon Conditions to be stated in the Resolutions creating the same, and to be notified on the Certificates of such Shares; and for the Purpose of redeeming the same or any Part thereof the Company may create and issue from Time to Time fresh Shares, with or without any special Advantages. 7. If in the First Half of any Year commencing on the First Day As to Divi- of January there be Profits applicable to the Purposes of Divi- ^"dtSwrlf dend upon the Ordinary Shares or Stock of the Company, after a Year. satisfying the Dividend and Arrears of Dividend (if any) due upon any other Preference Shares of Stock of the Company previously created and issued, and also the Dividend for such Half Year on the Preference Shares or Stock to be created under the Powers of this Act, it shall be lawful for the Company to declare a Dividend for such Half Year on such Ordinary Shares or Stock. 8. The Amount of any One Call to be made upon the Shares Limit of created under the Powers of this Act shall not exceed One Fourth of ^m0^n' aP* the Amount of such Shares; and there shall be an Interval of Two Calls. Months at least between every Two successive Calls, and not more than Three Fourths of the Amount of each Share shall be called up in any One Year. .9. The Company shall not issue any Share created under the Shares not to Authority of this Act, nor shall any Share vest in the Person ac- 1J:sueJ;1"1,11 i i -i n /- One Fifth cepting the same, unless and until a Sum not being less than One Partpaidup. Fifth Part of the Amount of such Share shall have been paid up in respect thereof. 10, The Proprietors of any Shares to be issued under the Au- As to the thority of this Act shall be entitled to such Number of Votes in J^JJ^f J0" respect thereof as the nominal Amount represented by such Shares such Shares. would have entitled them to if the same had been Original Shares of the Company. 11. The 3124 28 & 29 VICTORIA, C^.ccxvi. The Great Northern Railway (Junctions) Act, 1865. Power to U. The Company may from Time to Time, under the Powers of .Mortgage! ^s Act' Dorrow an7 additional Sum of Money not exceeding Fifty -four thousand Pounds, either by Mortgage of their Undertaking, or by the Issue of Debenture Stock, in pursuance of the Powers and subject to the Limitations and Restrictions contained in " The Great Northern Railway Company's Increase of Capital Act, 1853," but no Part of that Sum shall be borrowed until the whole of the additional Capital by this Act authorized to be raised by new Shares is bond fide subscribed for or taken, and One Half thereof is paid up, and until the Company shall prove to the Justice who is to certify, under the Fortieth Section of " The Companies Clauses Con* solidation Act, 1845," before he so certifies, that Shares for all such additional Capital are issued, and that One Half of such additional Capital has been paid up, and that not less than Twenty per Centum has been paid on account of each separate Share before or at the Issue thereof, and that they are bond fide held by the Subscribers or their Assigns, and that such Subscribers and their Assigns are legally liable for the same, of which Proof having been given the Certificate of such Justice under that Section shall be sufficient Evidence. Existing 12. Provided always, That all Mortgages granted by the Company have* JMo-*0 before the passing of this Act, and which shall be subsisting at the rity. Time of the passing thereof, shall during the Continuance of such Mortgages have Priority over any Mortgages to be created by virtue of this Act. Application 13. All and every Part of the Sums by this Act authorized to be of Sums raised by new Shares or on Mortgage shall be applied only to the this Act. Purposes of the Railways and Works by this Act authorized. 8 & 9 Vict...

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