Southport and Cheshire Lines Extension Railway Act 1885
| Jurisdiction | UK Non-devolved |
| Citation | 1885 c. liii |
| Year | 1885 |
[48 & 49 VICT.] Southport and Cheshire Lines Extension [Oh, liiLJ
Railway Act, 1885.
CHAPTER liii.
An Act to empower the Southport and Cheshire Lines
A.D.
1885
Extension Railway Company to raise further Money; to
confirm Agreements with reference to the working of
their Railway by the Cheshire Lines Committee; and for
other purposes. [25th June 1885.]
THEREAS by the Southport and Cheshire Lines Extension
Railway Act 1881 (in this Act referred to as the Act of 1881)
the Southport and Cheshire Lines Extension Railway Company (in
this Act called the Company) were incorporated and empowered to
make a railway from the railway of the Cheshire Lines Committee
near Liverpool to Birkdale in the county of Lancaster and by the
Southport and Cheshire Lines Extension Railway Act 1882 (in this
Act referred to as the Act of 1882) the Company were empowered to
extend their railway into Southport:
And whereas by the Act of 1881 the Company were authorised to
raise by shares the sum of two hundred and sixty-five thousand
pounds and by borrowing the sum of eighty-eight thousand pounds
and by the Act of 1882 they were authorised to raise by shares the
further sum of one hundred and five thousand pounds and by
borrowing the further sum of thirty-five thousand pounds and it
was by the said Act (section 11) provided that the interest of all
debenture stock and of all mortgages at any time after the passing
thereof created and issued or granted by the Company under that
or any subsequent Act should (subject as therein stated) rank pari
passu:
And whereas the Company have created and issued ordinary
shares to the amount of two hundred and sixty-five thousand pounds
and preference shares bearing dividend at the rate of five pounds
per centum per annum to the amount of one hundred and five
thousand pounds and debenture stock bearing interest at the like
rate to the amount of one hundred and twenty-three thousand
[Local-53.] A 1
[Ch.
liil.] Southport and Cheshire Lines Extension [48 & 49 VICT.]
Railway Act, 1885.
A.D.
1885, pounds and have expended or are liable for the whole of the money
raised by such shares and debenture stock:
And whereas the Company's railway has been recently opened and
is now being worked by the Cheshire Lines Committee but further
expenditure on capital account is required thereon and the Company
also require further money to discharge other liabilities and it is
expedient that the Company .should be empowered to raise further
money as hereinafter provided:
And whereas it is expedient that the agreements with reference
to the working of the Company's railway by the Cheshire Lines
Committee which are respectively set forth in the first and second
schedules to this Act should be confirmed:
And whereas the objects 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
Short title. 1. This Act may be cited as the Southport and Cheshire Lines
Extension Uailway Act 1885,
Incorpora- 2. The clauses and provisions of the Companies Clauses Con-
tl(?n
of
Sene"
solidation Act 1845 with respect to the following matters (that is
to say):
The distribution of the capital of the Company into shares:
The transfer and transmission of shares:
The payment of subscriptions and the means of enforcing the
payment of calls:
The forfeiture of shares for non-payment of calls:
The remedies of creditors of the Company against the share-
holders :
The borrowing of money by the Company on mortgage or bond ;
The conversion of the borrowed money into capital:
The consolidation of the shares into stock :
The giving of notices : and
The provision to be made for affording access to the special Act
by all parties interested:
Part I. (relating to cancellation and surrender of shares) Part II.
(relating to additional capital) and Part III. (relating to
debenture stock) of the Companies Clauses Act 1863 are (except
where expressly varied by this Act) incorporated with and form
p&rt of this Act*
2
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