Liverpool Cattle Market Act 1896

Publication Date:January 01, 1896


Liverpool Cattle Market Act 1896

(59 & 60 Vict.) c. xxi

An Act to incorporate and confer powers on the Liverpool Cattle Market Company and for other purposes.

[21st May 1896]

[59 Vict.] Liverpool Cattle Market Ad, 1896. [Oh. XXI.] CHAPTER xxi. An Act to incorporate and confer powers on the Liverpool a.d. 1896. Cattle Market Company and for other purposes. [21st May 1896.] W HEREAS the provision of improved market accommodation for the sale of cattle and other live stock and of meat game fruit vegetables hay straw and other articles and things in the city of Liverpool or neighbourhood would be of local and public advantage: And whereas the persons in this Act named are (with others) willing to undertake such provision and it is expedient that they be incorporated as a Company (in this Act called " the Company ") and that powers be conferred on them for the purpose : And whereas it is expedient that the Company be empowered to acquire the lands and to make and maintain the railways subways or street tunnels and other works in this Act described : And whereas the Liverpool New Cattle Market Company (in this Act called " the Old Company ") which was incorporated by an Act passed in the year 1832 (2 Will. IV. c. viii.) intituled " An Act " for establishing a market in the parish of Walton-on-the-Hill in " the county palatine of Lancaster " (in this Act referred to as " the Act of 1832 ") has for many years earned on a market for the sale of cattle and other live stock in the parish of Walton-on-the-Hill near the city of Liverpool: And whereas the share capital of the Old Company is fifteen thousand pounds divided into six hundred shares of twenty-five pounds each all of which have been issued and fully paid and the Old Company has borrowed on mortgage debentures the sum of seven thousand nine Imndred and fifty pounds: And whereas it is expedient to empower the Company to acquire by agreement the undertaking of the Old Company : And whereas an agreement has been entered into (subject to the sanction of Parliament) on behalf of the Company proposed to be incorporated by this Act for the purchase of the undertaking of the [Price 2s. 3d.] A I [Ch. XXi.] Liverpool Cattle Market Act, 1896. [59 Vict.] a.D. 1896. Old Company and for taking over the powers assets and liabilities of that Company and it is expedient to confirm the said agreement as set out in the First Schedule to this Act: And whereas the objects of this Act cannot be attained without the authority of Parliament: And whereas plans and sections showing the lines and levels of the railways and subways or street tunnels authorised by this Act and also books of reference containing the names of the owners and lessees or reputed owners and lessees and of the occupiers of the lands required or which may be taken for the purposes or under the powers of this Act were duly deposited with the clerk of the peace for the county of Lancaster and are herein-after respectively referred to as the deposited plans sections and books of reference: 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 : I.Preliminary. Short title. 1. This Act may be cited as the Liverpool Cattle Market Act 1896. Incorporation of general Acts. Interpretation. The Companies Clauses Consolidation Act 1845 Part I. (relating to cancellation and surrender* of shares) and Part III. (relating to debenture stock) of the Companies Clauses Act 1863 the Lands Clauses Acts the Railways Clauses Consolidation Act 1845 and Part I. (relating to construction of a railway) and Part III. (relating to working agreements) of the Railways Clauses Act 1863 and the Markets and Fairs Clauses Act 1847 except section 13 thereof are (except where expressly varied by this Act) incorporated with and form part of this Act Provided that the Public Health (Confirmation of Byelaws) Act 1884 shall apply to byelaws made under this Act and to any byelaws which may hereafter be made under the Act of 1832. In this Act the several words and expressions to which meanings are assigned by the Acts wholly or partially incorporated herewith have the same respective meanings unless there be something in the subject or context repugnant to such construction And for the purposes of this Act the expression " superior courts " or " court of competent jurisdiction " or any other like expression in this Act or any Act wholly or partially incorporated herewith shall be read and have effect as if the debt or demand with respect to 2 [59 Vict.] Liverpool Cattle Market Act, 1896. [Ch. XXi.J which the expression is used were a simple contract debt and not a A.D. 1896. debt or demand created by statute. 4. The limits of this Act so far as it relates to markets and Limits of slaughter-houses shall be co-extensive with the limits for the time Act' being of the market places market buildings and other buildings conveniences lands and approaches connected therewith belonging to or under the control from time to time of the Company. II.Constitution &c. of Company. 5. John Sutherland Harmood Banner Benjamin Cain Hugh Company Cullen Sir William Bower Forwood Walter Glynn William Nelson incorPorated- George Nicholson James Marke Wood and all other persons and corporations who have already subscribed to or shall hereafter become proprietors in the undertaking and their executors administrators successors and assigns respectively shall be and are hereby united into a company for the purpose of providing and maintaining market accommodation and of establishing and holding markets for the sale of cattle and other live stock and of meat poultry game fruit vegetables hay straw and other articles and things and generally for the purpose of putting into execution the powers and provisions of this Act and for those purposes shall be and are hereby incorporated by the name of the Liverpool Cattle Market Company and by that name shall be a body corporate with perpetual succession and a common seal and with power to purchase take hold and dispose of lands and other property for the purposes of this Act. The capital of the Company shall be three hundred thousand Capital. pounds in thirty thousand shares of ten pounds each. The Company shall not issue any share created under the Shares not authority of this Act nor shall any such share vest in the person to j!flssued ^ 1-11 nntu one- accepting the same unless and until a sum not being less than fifth paid. one-fifth of the amount of such share is paid in respect thereof. 8. One-fifth of the amount of a share shall be the greatest Calls on amount of a call and three months at least shall be the interval shares' between successive calls and three-fourths of the amount of a share shall be the utmost aggregate amount of the calls made in any year on any share. 9. If any money is payable to a shareholder or mortgagee or Receipt in debenture stockholder being a minor idiot or lunatic the receipt ^^fr" of the guardian or committee of his estate skall be a sufficient sui juris. discharge to the Company. a 2 a A.D. 1896. Power to pay interest out of capital during construction. Power to borrow. [Ch. XXi.] Liverpool Cattle Market Act, 1896. [59 Vict.] 10. Notwithstanding anything in this Act or in any Act or Act incorporated therewith contained it shall be lawful for the Company out of any money by this Act authorised to be raised to pay interest at such rate not exceeding three pounds per centum per annum as the directors may determine to any shareholder on the amount from time to time paid up on the shares held by him from the respective times of such payments until the expiration of the time limited by this Act for the completion of the works by this Act authorised or such less period as the directors may determine but subject always to the conditions herein-after stated (that is to say): No such interest shall begin to accrue until the Company shall have obtained a certificate from the Board of Trade that two-thirds at least of the share capital authorised by this Act in respect of vvhich such interest may be paid has been actually issued and accepted and is held by shareholders who or whose executors administrators or assigns are legally liable for the same : No such interest shall accrue in favour of any shareholder for any time during which any call on any of his shares is in arrear: The aggregate amount to be so paid for interest shall not exceed thirty thousand pounds and the amount so paid shall not be deemed share capital in respect of which the borrowing powers of the Company may be exercised but such borrowing powers shall be reduced to the extent of one-third of the amount paid for interest as aforesaid : Notice that the Company has power so to pay interest out of capital shall be given in every prospectus advertisement or other document of the Company inviting subscriptions for shares and in every certificate of shares: The half-yearly accounts of the Company shall show the amount of capital on which and the rate at which interest has been paid in pursuance of this section : Save as herein-before set forth no interest or dividend shall be paid out of any share or loan capital which the Company are by this or any other Act authorised to raise to any shareholder on the amount of the calls made in respect of the shares held by him but nothing in this Act shall prevent the Company from paying to any shareholder such interest on money advanced by him beyond the amount of the calls actually made as is in conformity with the Companies Clauses Consolidation Act 1845. 11. The Company may in respect of the capital of three hundred thousand pounds which they are by this Act authorised to raise from time to time borrow on mortgage of their undertaking such sums as they think fit not exceeding in the...

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