29 & 30 VICT. acts, and default had been made in payment of the principal and interest due in respect of such loan. CAP. 95. Application of moneys recovered under last preceding section Securities under this 7. The moneys recovered or received by the commissioners in respect of any mortgage which shall take effect under the last preceding section shall be applied as follows: (1.) In payment of all costs, charges, and expenses incurred in executing or putting in force any powers or rights conferred by the mortgage, or in realizing the property mortgaged, or in the recovery, application, or distribution of the money received or secured thereunder, or otherwise in reference thereto : (2.) In payment of the amounts due under all debentures or other securities duly issued and registered by the company before the mortgage took effect, in the same order and priority, and with the same benefit of special security (if any) duly given, and in the same manner in all respects in which such amounts would be payable out of the assets of the company in case no mortgage had been effected under the last preceding section: (3.) The surplus may be paid to the company, or may be paid by the secretary of the commissioners, into the bank of Ireland, to the credit of the accountant general of the court of chancery in Ireland," the account of the surplus capital of the company (naming the company)," pursuant to the provisions of the act of the eleventh and twelfth years of her Majesty, chapter sixty-eight, intituled an act for extending to Ireland an act passed in the last session of parliament, intituled "an act for better securing trust funds, and for the relief of trustees," and for the purpose of any such payment into court the secretary of the commissioners shall be deemed a trustee of such surplus within the meaning of the said act: (4.) Such orders as shall seem fit shall from time to time be made by the court of chancery in Ireland, under the said last-mentioned act, for payment and distribution of such surplus or any part thereof to the company, or to or among any companies or persons entitled to such surplus or any part thereof. 8. Every debenture or other security given by any act declared company for a loan under this act shall be deemed to be a debenture or security issued in accordance with the acts valid. CAP. 95. regulating the company, and shall not be rendered invalid 29 & 30 Vior. by any want of compliance with the provisions of such acts, or by any other omission or informality what ever. 9. No debenture or other security executed for securing Exemption from stamp payment of any loan under this act shall be liable to any from. stamp duty whatever. 29 & 30 VICT. c. 95. v. Rate of panies for CONSTABULARY FORCE (IRELAND), 1866. 29 & 30 Vict. Cap. 103. An Act to amend an 13. From and after the passing of this act, in all cases charge upon where members of the constabulary force shall be rerailway com- quired to keep the peace in the neighbourhood of railway constabulary works or other public works in Ireland, the costs and protection. expenses of such members, calculated in the manner herein-before mentioned, shall be charged upon the company or other parties carrying on such railway or other public works. RAILWAY COMPANIES SECURITIES, 1866. 29 & 30 Vict. Cap. 108. An Act to amend the Law relating to Securities issued by Railway Be it enacted by the Queen's most excellent Majesty, 1. This act may be cited as the Railway Companies Short title. Securities Act, 1866. Interpretation of 2. In this act- The term "railway company includes every com- poses: The term "debenture stock" includes mortgage preference stock and funded debt, and any stock or shares representing loan capital of a railway company, by whatever name called: cc. 121, 121. The term "act of parliament " includes a certificate of 27 & 28 Vict. the board of trade made under The Railways Construction Facilities Act, 1864, or The Railway Companies Powers Act, 1864, or any other act of parliament. tered officer, 3. Every railway company shall, on or before the Company to fifteenth day of January one thousand eight hundred have regis and sixty-seven, register, and shall always thereafter keep registered, at the office of the registrar of joint stock companies in England, the name of their secretary, accountant, treasurer, or chief cashier for the time being authorized by them to sign instruments under this act, or, if they think fit, the names of two or more such officers of the company so authorized (and the officer so registered for the time being, and any one of the officers so registered if more than one, is in this act referred to as the company's registered officer). 4. Half years shall, for the purposes of this act, be Half years deemed to end on the thirtieth day of June and the for purposes of act. 29 & 30 VICT. thirty-first day of December; and the first half year to CAP. 108. which this act applies shall be that ending on the thirtyfirst day of December one thousand eight hundred and [Repealed by 38 & 39 sixty-six; but the board of trade, on the application of Vict. c. 66, any railway company, may (by writing under the hand 8. 1.] of one of their secretaries or assistant secretaries, which shall be registered by the railway company at the office of the said registrar) appoint, with respect to that company, other days for the ending of half years (including the first). Loan capital be made 5. Within fourteen days after the end of each half year, accounts to every railway company shall make an account of their loan half-yearly. capital authorized to be raised and actually raised up to the end of that half year, specifying the particulars described in the first schedule to this act, part I. (which account for each half year is in this act referred to as the loan capital half-yearly account). Form of 6. The board of trade may from time to time, by nohalf-yearly tice published in the London, Edinburgh, and Dublin Gazettes, prescribe the form in which the loan capital half-yearly account is to be made. account. Account to be open to share 7. The loan capital half-yearly account of each company may be perused at all reasonable times, without holders, &c. payment, by any shareholder, stockholder, mortgagee, bond creditor, or holder of debenture stock of the company, or any person interested in any mortgage, bond, or debenture stock of the company. Deposit of copy of account with 8. Within twenty-one days after the end of each half year every railway company shall deposit with the registrar of joint stock companies in England a copy, companies. certified and signed by the company's registered officer as a true copy, of their loan capital half-yearly registrar of joint stock Deposit in Scotland and Prohibition. borrowing account. 9. A railway company may also, if they think fit, deposit with the registrar of joint stock companies in Scotland, or with the assistant registrar of joint stock companies in Ireland, or with each, a like copy of any loan capital half-yearly account of the company. 10. It shall not be lawful for any railway company at against any time to borrow any money on mortgage or bond, or before regis- to issue any debenture stock, under any act of the tration of present session or passed after the end of the half year the borrow to which their then last registered loan capital half Act giving ing power. yearly account relates, unless and until they have first deposited with the registrar of joint stock companies in England a statement, certified and signed by the company's registered officer as a true statement, specifying the particulars described in the first schedule to this act, part II. |