Railway Companies Securities Act 1866
| Jurisdiction | UK Non-devolved |
| Citation | 1866 c. 108 |
Railway Companies Securities Act, 1866
(29 & 30 Vict.) C A P. CVIII.
An Act to amend the Law relating to Securities issued by Railway Companies.
[10th August 1866]
B E 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:
1 Short Title.
1. This Act may be cited as TheRailway Companies Securities Act, 1866.
2 Interpretation of Terms.
2. In this Act—
The Term ‘Railway’ includes a Tramway authorized by Act of Parliament incorporating The Companies Clauses Consolidation Act, 1845, but not any other Tramway:
The Term ‘Railway Company’ includes every Company authorized by Act of Parliament to raise any Loan Capital for the Construction or Working of a Railway, or for any Purposes connected with the Conveyance by such Company of Traffic on a Railway, either alone or in conjunction with other Purposes:
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:
The Term ‘Act of Parliament’ includes a Certificate of 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.
3 Company to have Registered Officer.
3. Every Railway Company shall, on or before the Fifteenth Day ofJanuary One thousand eight hundred 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 for Purposes of Act.
4. Half Years shall, for the Purposes of this Act, be deemed to end on the Thirtieth Day ofJune and the Thirty-first Day of December ; and the First Half Year to which this Act applies shall be that ending on the Thirty-first Day of December One thousand eight hundred and sixty-six; but the Board of Trade, on the Application of any Railway Company, may (by Writing under the Hand 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).
5 Loan Capital Accounts to be made half-yearly.
5. Within Fourteen Days after the End of each Half Year every Railway Company shall make an Account of their Loan 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).
6 Form of Half-yearly Account.
6. The Board of Trade may from Time to Time, by Notice published in theLondon, Edinburgh , and Dublin Gazettes, prescribe the Form in which the Loan Capital Half-yearly Account is to be made.
7 Account to be open to Shareholders, &c.
7. The Loan Capital Half-yearly Account of each Company may be perused at all reasonable Times, without 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.
8 Deposit of Copy of Account with Registrar of Joint Stock Companies.
8. Within Twenty-one Days after the End of each Half Year every Railway Company shall deposit with the Registrar of Joint Stock Companies inEngland a Copy, certified and signed by the Company's Registered Officer as a true Copy, of their Loan Capital Half-yearly Account.
9 Deposit in Scotland and Ireland.
9. A Railway Company may also, if they think fit, deposit with the Registrar of Joint Stock Companies inScotland , 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 Prohibition against borrowing before Registration of Act giving the Borrowing Power.
10. It shall not be lawful for any Railway Company at any Time to borrow any Money on Mortgage or Bond, or to issue any Debenture Stock, under any Act of the present Session or passed after the End of the Half Year to which their then last registered Loan Capital Half-yearly Account relates, unless and until they have first deposited with the Registrar of Joint Stock Companies inEngland 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.
The Board of Trade may from Time to Time, by Notice published in theLondon, Edinburgh , and Dublin Gazettes, prescribe the Form in which such Statement is to be made.
A Railway...
To continue reading
Request your trial