court, or otherwise,) for the time being in force respecting the Sect. 35. payment of money into the said courts respectively, and without fee or reward.

to bring in

36. Provided, that in lieu, wholly or in part, of the payment of Liberty for money, the promoters may bring into court as a deposit an equivalent promoters sum of bank annuities, or of any stocks, funds, or securities on which Exchequer cash under the control of the respective court is for the time being bills, &c. permitted to be invested, or of Exchequer Bills (the value thereof being taken at the price at which the promoters originally purchased the same, as appearing by the broker's certificate of that purchase); and in that case the Board of Trade shall vary their warrant accordingly.

37. At any time when the office of the Accountant-General of the Provision Court of Chancery in England or Ireland is closed, a deposit under for vacathis Act may nevertheless be made, in such manner as general orders offices of of the respective courts authorize and direct.

tions in

courts.

court to

38. Where money is so paid into the Court of Chancery in Power for England or Ireland, the court may, on the application of the persons direct innamed in the warrant of the Board of Trade, or of the majority or vestment. survivors of them, order that the same be invested in such stocks, funds, or securities as the applicants desire and the court thinks fit.

tion of "de

posit fund"

39. In the subsequent provisions of this Act, the term "the Interpretadeposit fund" means the money deposited, or the stocks, funds, or securities in which the same is invested, or the bank annuities, and "Destocks, funds, securities, or Exchequer Bills deposited, as the case may positors" in be; and the term "the depositors" means the persons named in the provisions. warrant of the Board of Trade authorizing the deposit, or the majority or survivors of those persons, their executors, administrators, or assigns.

following

40. The court in which the deposit is made shall, on the applica- Repayment tion of the depositors, order the deposit fund to be paid, transferred, of deposit or delivered out to the applicants, or as they direct, in any of the tion of railfollowing events; namely,

(1.) If, within the time in the certificate prescribed, and if none is

prescribed, then within five years from the commencement
of the operation of the certificate, the company, or persons
thereby empowered to make the railway, complete it and
open it for public traffic; and

(2.) If, within the same time, they (being a company) prove to
the satisfaction of the Board of Trade that one-half of their
nominal capital authorized by the certificate is paid up, and
that they have expended a like amount for the purposes of
the certificate; or

(3.) If, at any time after the issuing of the certificate, they execute and deliver to the solicitor of Her Majesty's Treasury a bond with a surety or sureties (such bond being prepared to the satisfaction of, and such surety or sureties being approved by, the said solicitor) in a penal sum of twice the amount of the money required to be deposited, conditioned

on comple

way or on terms.

Sect. 42.

Depositors

to receive dividends

accruing

to the effect following, namely, for payment to Her Majesty, her heirs or successors, of the amount of the money required to be deposited, if the company or persons empowered by the certificate do not, within the time aforesaid, either complete the railway and open it for public traffic, or (being a company) give such proof as aforesaid respecting their capital and expenditure.

Sections 41 and 42 deal with forfeiture of the deposit, but see now the Parliamentary Deposits and Bonds Act, 1892 (55 & 56 Vict. c. 27), post, the provisions of which will, no doubt, be made applicable by the order authorising the light railway.

43. The depositors shall be entitled to receive payment of the interest or dividends from time to time accruing on the deposit fund while in court; and the court in which the deposit is made may while fund from time to time, on the application of the depositors, make such order as seems fit respecting the payment of the interest or dividends accordingly.

in court.

Proof as to

44. The certificate of the Board of Trade that such proof as aforecapital and said respecting the capital and expenditure of any company has been expenditure, execution of given to the satisfaction of the Board of Trade, and the certificate of the solicitor of Her Majesty's Treasury that such bond as aforesaid has in any case been prepared, executed, and delivered to his satisfaction, shall respectively be sufficient evidence of the matters therein certified.

bond, &c.

Protection

Trade in

45. The issuing in any case of any warrant or certificate relating to Board of to deposit or to the deposit fund, or any error in any such warrant or certificate or in relation thereto, shall not make the Board of Trade, or the person signing the warrant or certificate on their behalf, in any manner liable for or in respect of the deposit fund, or the interest of or dividends on the same, or any part thereof respectively.

case of error, &c.

Mode of

46. Any application under this Act to the Court of Chancery in application England or Ireland shall be made in a summary way in such manner as general orders of those courts respectively direct.

to courts.

Penalty on company failing to open new

railway in certain cases.

48. Where a certificate is obtained by a previously existing company possessed of a railway open for public traffic, then, if the company fail to complete the railway and open it for public traffic within the time in the certificate prescribed, and if none is prescribed, then within five years from the commencement of the operation of the certificate, the company shall be liable to a penalty of not less than twenty pounds and not exceeding fifty pounds for every day during which such failure continues, except only in respect of any time during which it appears from a certificate of the Board of Trade that the company were prevented from completing the railway or opening it for public traffic by unforeseen accident or circumstances beyond their control, but the want of sufficient funds shall not be deemed a circumstance beyond their control within the meaning of this provision.

Application of General Railway Acts.

Sect. 51,

in Schedule

51. The enactments described in the schedule to this Act, and Enactments any enactments amending, perpetuating, or otherwise affecting any applied of them, so far as the same are in force at the passing of this Act, to the railshall extend and apply, as the case may require, to the railway, and way and to the company or persons empowered by the certificate to make the company, subject to railway, and shall in all respects operate in relation thereto respec- variations. tively as if they were expressly repeated and re-enacted in this Act, subject, nevertheless, and according to the following variations and provisions; namely,

(1.) For the purposes and within the meaning of any of those enactments, the railway shall be deemed to be a railway made and constructed and carried on under the authority of Parliament and under the powers and provisions of an Act of Parliament, and the certificate (taken in conjunction with this Act) shall be deemed to be a special Act of Parliament regulating or relating to the railway, or the company, body, or persons empowered to make the same (as the case may require):

(2.) Such of those enactments as refer to the time of the passing
of an Act of Parliament for the construction of a railway,
or to the last day of the session in which such an Act is
passed, shall respectively be read and have effect as refer-
ring to the time of the commencement of the operation of
the certificate:

(3.) The terms "company" and "railway company " used in any
of those enactments shall respectively include any persons
empowered by the certificate to make the railway:
(4.) Such of those enactments as refer to the directors, or any
director, or the secretary, chief or other clerk, accountant,
treasurer, or other officer of a company, shall extend and
apply to every or any one of the persons (not being a com-
pany) empowered by the certificate to make the railway:
(5.) Such of those enactments as refer to a writing under the
common seal of the company shall be read and have effect
as referring to a writing under the hand and seal of any one
of such persons, as aforesaid :

(6.) Such of those enactments as impose any penalty or forfeiture,
or any pecuniary liability or any obligation, on a company,
or give any right, remedy, or process against a company,
shall be read and have effect (so far as the nature and cir-
cumstances of the case admit) as imposing a like penalty,
forfeiture, liability, or obligation on, or as giving a like
right, remedy, or process against, every or any one of such
persons, as aforesaid, but not so as to authorize the recovery
of any penalty or forfeiture from, or the enforcement of any
pecuniary liability against, more than one of such persons
in respect of the same offence, matter, or thing:

(7.) The amount of any compensation to be made to the owners and occupiers of any lands for loss or injury or incon

Sect. 51.

venience sustained by them respectively by reason of any works done under the authority of any of those enactments shall, in case of dispute, be settled in manner directed by the Lands Clauses Acts and the Railways Clauses Acts as respectively applicable to the case:

(8.) Such of those enactments as provide for the case of the Board of Trade certifying that the public safety requires additional land to be taken by a company for the purpose of giving increased width to the embankments or inclination to the slopes of the railway, or for making approaches to bridges or archways, or for doing works for the repair or prevention of accidents or slips happening or apprehended to the cuttings, embankments, or other works of the railway, shall be read and have effect, as regards such portions of land as are mentioned in any certificate so given by the Board of Trade, as if compulsory powers of purchasing and taking lands had been contained in the certificate under this Act authorising the making of the railway, and the provisions of the Lands Clauses Acts and the Railways Clauses Acts relative to the compulsory purchase or taking of land had been incorporated with that certificate:

(9.) If the railway is in any respect constructed contrary to the provisions of the certificate, or of this Act, it shall be deemed to be constructed contrary to the provisions of any of those enactments applicable in the case;

(10.) Nothing herein shall extend or make applicable, for the purposes of this Act, to or in any one of the parts of the United Kingdom, any of those enactments not in force there independently of this Act.

The schedule mentioned above is omitted. For the general Acts now applicable, see section 12 of the Light Railways Act and the note thereto, ante, p. 70.

Short title.

THE BOARD OF TRADE ARBITRATION, &c., ACT, 1874. (37 & 38 VICT. CAP. 40.)

An Act to amend the powers of the Board of Trade with respect to inquiries, arbitrations, appointments, and other matters under special Acts, and to amend the Regulation of Railways Act, 1873, so far as regards the reference of differences to the Railway Commissioners in lieu of Arbitrators.

Preliminary.

1. This Act may be cited as the Board of Trade Arbitrations, &c., Act, 1874.

Section 15 (1) of the Light Railways Act, 1896, ante, p. 72, makes Part I. of this Act applicable to local inquiries held by the Board of Trade for the purposes of that Act.

PART I.

Board of Trade Inquiries, &c.

Sect. 2.

Board of

2. Where under the provisions of any special Act, passed either Power of before or after the passing of this Act, the Board of Trade are Trade as to required or authorised to sanction, approve, confirm, or determine inquiry. any appointment, matter, or thing, or to make any order or to do any other act or thing for the purposes of such special Act, the Board of Trade may make such inquiry as they may think necessary for the purpose of enabling them to comply with such requisition or exercise such authority.

Where an inquiry is held by the Board of Trade for the purposes of this section, or in pursuance of any general or special Act passed either before or after the passing of this Act, directing or authorising them to hold any inquiry, the Board of Trade may hold such inquiry by any person or persons duly authorised in that behalf by an order of the Board of Trade, and such inquiry if so held shall be deemed to be duly held.

with

3. Where application is made in pursuance of any special Act Expenses passed either before or after the passing of this Act, to the Board of connected Trade to be arbitrators, or to appoint an arbitrator, referee, engineer, arbitration, or other person, or to hold any inquiry, or to sanction, approve, sanction, &c. confirm, or determine, any appointment, matter, or thing, or to make any order, or to do any other act or thing for the purposes of such special Act, all expenses incurred by the Board of Trade in relation to such application and the proceedings consequent thereon, shall, to such amount as the Board of Trade may certify by their order to be due, be defrayed by the parties to such application, and (subject to any provision contained in the said special Act) shall be defrayed by such of the parties as the Board of Trade may by order direct, or if so directed by an order of the Board of Trade shall be paid as costs of the arbitration or reference.

The Board of Trade may, if they think fit, on or at any time after the making of the application, by order require the parties to the application, or any of them, to pay to the Board of Trade such sum as the Board of Trade think requisite for or on account of those expenses, or to give security to the satisfaction of the Board of Trade for the payment of those expenses on demand, and if such payment or security is not made or given may refuse to act in pursuance of the application.

All expenses directed by an order of the Board of Trade or an award in pursuance of this section to be paid may be recovered in any court of competent jurisdiction as a debt, and if payable to the Board of Trade, as a debt to the Crown, and an order of the Board of Trade shall be conclusive evidence of the amount of such expenses.

Act."

4. In this part of this Act the term "special Act" means a local Meaning of or local and personal Act, or an Act of a local and personal nature, "special and includes a provisional order of the Board of Trade confirmed by Act of Parliament and a certificate granted by the Board of Trade under the Railways Construction Facilities Act, 1864.