Monmouth Water Act 1816
|Publication Date:||January 01, 1816|
(56 Geo. 3) c. lxxxv
An Act for altering and amending an Act made in the Fifty-second Year of His present Majesty, for making a Canal from the Grand Junction Canal in the Parish of Paddingson, to the River Thames in The Parish of Limehouse.
[2d July 1816]
ANNO QUINQUAGESIMO SEXTO GEORGII III. REGIS. ilnt*A i^ &. &'&,.*.& tit. &, tit- ?&, ?if.&. &.&-&-&-&?&? &-&? A A.i'.AJH^A tiLM. ** **- A Tlftrito ^f i'if i ^ifi flft i^f. .*lfi "it, *&,&,& it.flk C#p. lxxxv. An Act for altering and amending an Act made in the Fifty-second Year of His present Majesty, for making a Canal from the Grand Junction Canal in the Parish of Paddington, to the River Thames in the Parish of Limehouse. [2d July 1816.] W HEREAS an Act was passed in the Fifty-second Year of the Reign of His present Majesty, intituled An Act for making and S2G-i-cl95' maintaining a navigable Canal from the Grand Junction Canal in the Parish o/Taddington, to the'River Thames in the Parish of Limehouse, with a Collateral Cut in the Parish of Saint Leonard Shoreditch, in the County of Middlesex, whereby certain Persons and their Successors were incorporated by the Name of the Company of Proprietors of the Regent's Canal, and were thereby empowered to make and maintain the said Canal, and to raise and contribute among themselves, for the Purposes of the said Act, a competent Sum of Money, not exceeding the Sum of Three hundred thousand Pounds in the whole, except as therein is mentioned ; and in case the said Sum of Three hundred thousand Pounds should at any Time be found insufficient for the Purposes of the said Act, the said Company of Proprietors were'also authorized to raise a further Sum of Money, not exceeding the Sum of One hundred thousand Pounds, in Manner therein mentioned: And whereas the said Company of Proprie-, tors have proceeded in the making of the said Canal, and it is necessary that the said'Company should have Authority to raise a further Sum of Money for the Completion of the same, and that some of the Powers; \JLocal.~ file:///JLocal.~ ] ioT . Clauses, 1834 56GEORGII III. CapAxxxv. Sum of Money Clauses, and Provisions of the. said Act should be altered and amended: May it therefore please1 Your Majesty that it may be enacted ; and be it enacted by the King's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in Powertoraise this present Parliament assembled, and by the Authority of the same, That an additional it shall and may be lawful for the said Company of Proprietors, and they are hereby authorized and empowered, to faiSe the further Sum of Two hundred thousand Pounds in Manner herein-after mentioned, or by all or any or either of the Ways or Means by which the said Company are authorized to raise any Money by virtue of the said recited Act. Half Shares may be created. Money may be raised by Mortgage: Money may be raised among the Proprietors, or by new Subscription, II. And be it further enacted, That it shall and may be lawful to and for the said Company of Proprietors, in case they or their General Committee shall deem it meet and expedient, to raise the said Sum, or any Part thereof, either among themselves the said Company, or by the Admission of new Subscribers; and every Person or Persons, Body or Bodies Politic, Corporate, or Collegiate, subscribing towards raising such further Sum of Money, shall be a Proprietor or Proprietors in the said Undertaking, and shall have a like Vote by himself, herself, or themselves, or his, her, or their Proxy or Proxies, in respect of every Share of the said additional Sum hereby authorized to be iaisedj and shall also stand interested in all the Profits of the said Undertaking in proportion to such Sum as he, she, or they may subscribe thereunto, and shall be liable to such Forfeiture or Forfeitures, Penalty or Penalties, as are in the said Act in certain Cases provided to take place, and shall to all Intents and Purposes whatever be as fully and effectually a Member or Members of the said Company as the Proprietors of Shares in the Capital Stock of the said Company-now are. III." And be it further enacted, That it shall and may be lawful for the said Company of Proprietors, or their General Committee for the Time beings to raise the said Sum of Two hundred thousand Pounds, or such Part or Parts thereof as they shall from Time to Time think fit, by creating Half Shares of Fifty Pounds each, and disposing of the same to such Person or Persons, and at such Price or Prices, as to the said Company of Proprietors shall from Time to Time seem meet and convenient, or by such othef Ways and Means as the said Company of Proprietors shall from Time to Time think expedient or necessary for that Purpose ; and that the respective Proprietors of any Half Shares which shall or may be created by virtue of this Act shall be entitled to such and the same Powers, Privileges, and Advantages, and be liable to such and the same Restrictions Penalties, Conditions, and Forfeitures, as if the same were Part of the Shares already created, and now vested in the several and respective Proprietors of the said Regent's Canal j and the Admission of every Person to any such Half Shares by any Order or Resolution of the said Company of Proprietors, or their General Committee for the Time being, shall be good and effect tu'al Titles to such Person or Persons, and his, her, or their respective Executors and Administrators, on his, her* or their Payment to the said Company of the Purchase Money or Price agreed for the same: Provided always,, that for the Purposes of voting at any such General or other Assembly,. Two such Half Shares shall be considered as One entire Share. IV. Provided always, and be it further enacted, That it shall and may be lawful tb and for the said Company of Proprietors, or their General 11 Committee; 56GEORGII III. Cap.hnxr. 1835 Committee, to raise all or any Part of the said Sum of Two hundred thousand Pounds hereby authorized to be raised by Mortgage of the said Undertaking, in Manner by the said recited Act provided iri respect of the further Sum of One hundred thousand Pounds thereby authorized to be raised. V. And be it further enacted, That in case the said Company, or their Or by An- General Committee, shall think it most advisable and proper to raise the nuities- several Sums of Money authorized to be raised by the said recited Act and by this Act, or any Part or Parts thereof, by granting Annuities, payable out of the Rates and Tolls and other Revenue, or out of the Monies to be raised by virtue of the said recited Act or of this Act, then and in every such Case it shall and may be lawful to and for the said Company to raise any such Sum by the granting of any such Annuity or Annuities as aforesaid, redeemable or otherwise, to or for the Use of the Person or Persons who shall contribute, advance, or pay into the Hands of the Treasurer or Treasurers to the said Company any Sum or Sums of Money. for the absolute Purchase of any such Annuity or Annuities, to be.paid and payable for any Term or Number of Years, or for or during the natural Life of any such Contributor, or such other Person as shall be riominated by or on behalf of such Contributor, at the Time of Payment of his or her Contribution and Purchase Money, and either with or without Benefit of Survivorship, and redeemable upon such Terms and Conditions as shall be agreed upon ; and the said Company are hereby authorized and empowered to grant all and every such Annuity or Annuities, so to be purchased as aforesaid, out of the Rates and Tolls or other Revenue of the said Under* taking, or out of the Monies to be raised by virtue of the said recited Act. Of of this Act, to the Person or Persons who shall agree to purchase the same, or to his, her, or their Trustee or Trustees. VI. And be it further enacted, That the Grant of every such Annuity as aforesaid shall be by Deed, under the Common Seal of the said Com pany, and may be according to the Form or to the Effect following j (that is to say), * XVE, the Company of Proprietors of the Regent's Canal, in con.- Form of *? sideration of the Sum of , to us paid Grant of An* ' by A. B. of [or if intended to be granted nuity- with Benefit of Survivorship, by E. F. G. H. &c-3 do hereby, by virtue ' of the Act of Parliament passed in the Fifty-sixth Year of the Reign of King George the Third, intituled [here insert the Title ofthisAcQ grant unto the said A. B. and his [or her] Assigns [or if by Survivorship, unto 1 the said E. F. G. H. he. and to the Survivors and Survivor of them} ' One Annuity or Yearly Sum of to be issuing out of all and singular the Rates and Tolls arising by virtue of an Act of Parliament made in the Year of the Reign of ' His said Majesty, intituled [set forth the Title of the said recited Act]) and also the said first-mentioned Act, and of all other the Revenue of the ' said Company, to hold unto the said A. B his [or her~] Executors, Admi- nistrators, and Assigns, for the Term of Years [or as the Case may be~] to hold unto the said A. B. and his [or her...
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