Trent Valley Railway Act 1845

Publication Date:January 01, 1845
Trent Valley Railway Act 1845

(8 & 9 Vict.) c. cxii

An Act for making a Railway from Stafford to Rugby

[21st July 1845]

*zsso OCTAVO & SOS0 VICTORIA3 REGINB. 11. ilncl bc it ciiactccl, 'I'liat in citing tliih Act in otlicr ilcts of` SIlwt `I'ilIc. i):irli:inieiit, and in legal Instrumciits and otlicr l'roceediiigs, it slinll be sufliciciit to use the Esl)rcssioii, " `llic Trozt J'trlle~j Itailway Act, 18.1.5.'' [ Loctrl.] %i N 111. And 2350 Cop. cxii. ~:iii1)o1veriiig 11'. Ancl ~vliereas tlie Loti(tu?~ urd Bit*ttti/1gliu?t~ Itail way COI~I~III~, wrtnill Itail- tlic Grmd Juiictiu)L Itailway Comp:uiy, md the flfizrzclicsfer tirid \i.;iy Coin- Ilirttiiiigltm~ Itailway Company are willing to subscribe to\v:irds tlie ,,il,acr.ibe L!iitlc~t;iliingig ; be it tlicrcfoi~ enacted, `l'liat it slinll be lawful for 111c Uritler- wcli of tlictii tlte said Londoil oi2d;~~,~~li/ttt~ ltail\vay Conip:iiiy, Iciliiv ; tlie said Grwrid Jt,iitction Itail way Coiiip:iny, and tlic s:iicisll;tiiclie,ste,, uttd Bit-ttiit/g//utti ltailnyay Conip;iny to subscribe towartls and beconie SIi;!relioltlers ill tlie said Uiiclertaliiii~, eitlici. in their o\wi N;inic 01' it1 tlie Nanies or K:iiiic of' aiiy l'crsoiis or l'ctwii to be apl)oiiitcd by tlieiii, to tlie Kxtciit of` Tliirteeii tliousaiid eight Iiundrcd and eig1it.y- iiiiie Shares fbr each of tlic said Companies, or to any less Nsteiit. 1,,ii\iez to :,NI to raise 17. And bc it enacted, Tliat fhr sucli l'iirpose it sliall be lawful the recliiisiLe fi)r t!ic said Loitdon ci?id Birttiirigliutti Itailway Coni1);1ny, the Gimd ,Ii~,t~~tioi~ ltail\\ny Coiiiptiy, and tlie ilI/t,zcliestet~ rtitd Uz`t.niiti~/iaiu b`uiids for 1 \lilt l'iii-Imseu 1t:iilway C(;iii1):111y rcsl)cctivcly to raise all or any l'art of' tlie hloncy so agreed to be siibsci*il)ccl by them rcspcctively as afbrcsaitl by the Creation of nc\v Sli~cs or Stock iii tlic Un~lcrt~il~ing of tlttt said Lo itdo n und Bir*ming.lin trz , t 11 e said G`~*nd Ji;sncfioii, ;iii rl N(o/ c/ic~sft!t. tiud Bhni)zglimb ltailways respectivcly, of sticli -1iiiount ailcl uiitler such Conditions, and particularly as to the Dividends tliereon, whetlier tlic same sliall be fixed or rateable, and as to tlie ltiglits of voting ;tiid otlier l'rivilegcs to be conferred on the I-Ioldcrs of sucli Shares or Stock, as tlie said LoiicloiL (tiid BirttifiigJimz Itnilway Coiiip:iiiy ;i I i d t 11 e sa i ti Gt~r 11 d Ju nct iori 1t ai 1 way C o 111 piny a 11 cl ill (t 12 (-/I cstci. 0 ii d l~irtningli~m linilway Company respectively, at any Special Geiieral ;\Icetirig of` the l'roprictors thereof` respectively to be corivcnctl for tlie l'urposc, sliall cletcrininc ; or it sliall be lawfiil for the said. Corn- I);inics or either of' tlicm, if` they think fit, to raise the respective Sunis agreed to be subscribcct by tlicin, or any Portion thereof; by Alortgye of' tlieir respective Undertakings, iii like Manner nucl iiitder :ind subject to tlic same l'rovisions as each of the said Companies is by all or any of` the Acts relating to such Undcrtnkii~g respectively :iiitliorized to raisc Money by Mortgage on tlie Credit tlicreof': l'ro- 1 \:id e tl Cap. cxii. 235 1 vidcd al\\nys, that the said Companies sliall not by such Means incrcasc tlic ,4inount wliicli inay be owing at any One Time on Mort- gage of tlieir respective Uiidertaliings beyond the Proportion of One 1 liirtf of` tlicir tlicri existiiig Capital respectively. r7 Vi. And be it ciiactecl, `l'hnt the Capital of the Company shall be Capital. VII. And be it enacted, That the Xurnber of Shares into wliicli Nunl')ey One million two Iiuiidred and fifty thousand l'ounds. Anioiint ot tlic C'a1)it:il slid1 be divided sliall he Sixty-two thousand five hundred, `iiid t lie ,Itiioiint of` each S1i:ire sliall be `l'wenty Pounds. IS. Aiitl be it cnacted, `l'liat it sliiill be lawfiil for the Coinpnny Pawer to to borrow on AIortgagc or ~oiic1 any sums iiot exceeding in the whole borrow RIon e y . the Suln of` Yoiir liiiiidred aiid sixteen thousand six hundred and sisty- six Pounds ; but no Part of such Sum sliall be borrowecl until tlie whole of` tlic said Capital or Srim of Oiie million two liundretl aiitl iifiy t1ioils:iiid I'oiinds sliall have been subscribed fir, and One Half' tlicreof' sliail 11:i\:c I1cc.11 :ictidIy picl ill). S. A11d be it c1iactet1, `l'liiit tlie iqxctive Jiortgngces ~1~111 be I\lortgcgees elititled to be 1):iid out of the `l'olls aitd otlier Estate and I ficcts of not to lm~. Preference tlic slid ~'oinpiny the several aiid respective SLIITIS so :idvancecl by ;I,,ove BontL t Iicin, witli tlic liltcrest tliercon, ratc;tbly aut1 in proportion one witli Creditors. tlic otlicr, ant1 witliout l'rctkrciice tlic oiic above tlic other of' tlicm, :ind in dl otlicr respects tlie l'rovisioiis in the said " Company's Clauses Consolidation Act, 1S46," relative to Mortgages, sliall be applicalde and estcnd to the Mortgages licrcby autliorizetl to be grnn tecl. SI. And be it cnacted, rl`iiat it sliall be hwfiil for die hlortgngees Arrears to be Appo' I 11 tin e 11 t of the Coinpiy to enforce tIic l'nynient of' the Arrears of Principal ellforceti by and Intcrcst due on any such Mortgages by tlie ilppointment of` a ot lieceiver ; and in order to airtliorize tlic Appointmciit of such lte- cei\.cr, in the event oftlic Principal Monies due on such Mortgages iiot lxiiy diily paid, the Amount owing to the Mortgagees by whoni i4pplicat~oti for sucli Itcceiver shall be inade shall not bc less than One Iiundrcd tliousaiid 1'o111i(ls in the wliolc. XII. And be it enacted, Tliat the 1:irst 0rdin:iry Meeting of the 1 irst and Coinpany shall be held witliin Two illoiitlis next af`ter the passing of otller Jfeet- this Act, aiid the subsequent 0rdin;iry Jfeetings of' the Company sliall ings Shareho,der~. of be held half-yearlv in the Months of Febrwriy aiid Augrist, or within Fourteen Days tlkreafter ; and the first of such Ordinary Meetings, and all otlicr Meetings, wliethcr ordinary or extraordinary, sliall be lielcl at sricli 1'1acc as the Dircctors shall appoint. SIII. And 2352 8" & 9" VICTORLE, Cupcxii. Quorum of XIII. And be it enacted, That the Quoruin for every General Meeting of tlie Company, \\hether ordinary or extraordinary, shall be Twenty Sliareliolders holding in the aggregate not less than Twenty- five tlioiisancl I'ouiids in the Capital of tlic Company. General Meetings. Kuinber of XIV. And be it enacted, `l'liat the Number of Shareholders 011 h'lare'lo'ders whose Requisition an Extraordinary Meetin6 inay be required to be to convene k;xtreordi- convened sliall be Thirty Sliarclioldcrs holding in the aggregate not nary Meeting. less tlia~i Sixty tllousalld l'ounds in the Capital of the Company. Scale of voting. XV. And be it enacted, That at all Gcneral Meetings of the Com- pmy, whether ordinary or extraordinary, every Slinrcliolder shall be entitled to vote according to the Scale of` voting lierein-after mcn- tionetl ; (tliat is to say,) every such Sliarcholder possessing any N\`unil)cr of' Sliarc\ iiot cscceding Twenty sliall l~avc One Vote in respect of each Sliare ; ancl every such Sliarcliolder possessing more than Twenty Sliares, but iiot csceeding One 1ii1n~lred Sllares, an atltli- tional Vote for every Five of such Sliares exceeding 'l'n.cwty Sliares 111) to Two hundred Shares, arid an additional Vote for every `re11 Shares beyond the first Two hundred Sliares : Provided always, that no Sliareliolder shall be entitled to vote at any Meeting unless he shdl have paid all the Calls then payable upon the Shares held by hi. 80 & 9" VICTORIA$ Cap. cxii. 2353 XIX. And be it enacted, That the Directors appointed by this ['resent Di- rectory to Act, or such of` them as sliall not die or resign, or become disqualified contintie till or be I.CIIIOVC~, sliall continue in Office until the Orclinary h'Iecting to Firat be Iicld witliin `l`no Alontlis after the passing of tliis Act ; and at such Ordinary Meeting tlic Sliarclioltlcrs present, personally or by Proxy, (with the JIeetiw Exception of' the said London nnd Bit*ini?rglinm, Gi~tnd Juncfion, ant1 illui/c/icsfer iind Biiwinghmi ltailway Companies, or the Persons deputed to act on their lklialf; who shall not be entitled to vote at such Election,) sliall elect `Three Directors being Shareliolclers in the said Company, the Directors or any of them appointed by tliis Act being cligiblc to be re-elected, and the Directors so appointed, or such of tlicni as slinll not die or resign, or become disqualificd, sliall continue in Office until tlic first Ordinary General Meetin5 to be lield after the Expir:ition of` Six Montlis from the Time at wlitcli the Undertaking shall be completed and opened to the Public. XS. And be it enacted, `I'hat so often as any of tlie said last-men- Occ i\ion.iI tioiicd `l'I11.e~ IIirectors sliall die or resign, or becoilie disqiialificd, the ~awllcies. i~einaining of the `I'liree llircctors may elect some otlier Sliareholder to be :I Ilirector in the Place of tlie Ilirector so dying, resigning, or becoming disqualified, and sucfi Director shall continue in Ofice so long as the said `l'liree Directors are to continue in Ofice. Iield after the Nxpiration of Six hlontlis from the Tiiiie the said fut~ Di- Undertaking sliall be coinpleted and operietl to the Public as aforesaid, rector`* and at CVCJ.~ coi.respondiiig Gcneral Meeting in every siicceeding Ycar, One of siicli last-mentioned Ilircctors (to bc detcrmined by Ballot anioiig sucli `l'lirce Directors) shall go oiit of Office, and so on at the correspondin& General Meeting ill eacli succeeding Year One other of the said Directors sliall go out of Office, until all of sucli Tlirce Directors sliall liave gone out of Ofice, and tliciiceforward at tlic corresponding General Meeting in eacli siibscqucnt Year the Director who sliall liave been longest in Office slinll retire, and in each Instance tlic Place of the retiring Director sliall be supplied by a new Director, or by the...

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