Railway Regulation Act 1844

JurisdictionUK Non-devolved
Citation1844 c. 85
Anno Regni VICTORI, Britanniarum Regin,Septimo & Octavo. An Act to attach certain Conditions to the Construction of future Railways authorized or to be authorized by any Act of the present or succeeding Sessions of Parliament; and for other Purposes in relation to Railways.

(7 & 8 Vict.) C A P. LXXXV.

[9th August 1844]

'WHEREAS it is expedient that the Concession of Powers for the Establishment of new Lines of Railway should be subjected to such Conditions as are herein-after contained for the Benefit of the Public:' 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, That if at any Time after the End of Twenty-one Yearsfrom and after the First Day ofJanuary next after the passing of any Act of the present or of any future Session of Parliament for the Construction of any new Line of Passenger Railway, whether such new Line be a Trunk, Branch, or Junction Line, and whether such new Line be constructed by a new Company incorporated for the Purpose or by any existing Company, the clear annual Profits divisible upon the subscribed and paid-up Capital Stock of the said Railway, upon the Average of the Three then last preceding Years, shall equal or exceed the Rate of Ten Pounds for every Hundred Pounds of such paid-up Capital Stock, it shall be lawful for the Lords Commissioners of Her Majesty's Treasury, subject to the Provisions herein-after contained, upon giving to the said Company Three Calendar Months Notice in Writing of their Intention so to do, to revise the Scale of Tolls, Fares, and Charges limited by the Act or Acts relating to the said Railway, and to fix such new Scale of Tolls, Fares, and Charges applicable to such different Classes and Kinds of Passengers, Goods, and other Traffic on such Railway, as in the Judgment of the said Lords Commissioners, assuming the same Quantities and Kinds of Traffic to continue, shall be likely to reduce the said divisible Profits to the said Rate of Ten Pounds in the Hundred: Providedalways, that no such revised Scale shall take effect, unless accompanied by a Guarantee to subsist as long as any such revised Scale of Tolls, Fares, and Charges shall be in force, that the said divisible Profits, in case of any Deficiency therein, shall be annually made good to the said Rate of Ten Pounds for every Hundred Pounds of such Capital Stock: Provided also, that such revised Scale shall not be again revised or such Guarantee withdrawn, otherwise than with the Consent of the Company, for the further Period of Twenty-one Years.

S-II Option of Purchase of future Railways.

II Option of Purchase of future Railways.

II. And be it enacted, That whatever may be the Rate of divisible Profits on any such Railway it shall be lawful for the said Lords Commissioners, if they shall think fit, subject to the Provisions herein-after contained, at any Time after the Expiration of the said Term of Twenty-one Years, to purchase any such Railway, with all its Hereditaments, Stock, and Appurtenances, in the Name and on Behalf of Her Majesty, upon giving to the said Company Three Calendar Months Notice in Writing of their Intention, and upon Payment of a Sum equal to Twenty-five Years Purchase of the said annual divisible Profits, estimated on the Average of the Three then next preceding Years: Provided that if the average Rateof Profits for the said Three Years shall be less than the Rate of Ten Pounds in the Hundred, it shall be lawful for the Company, if they shall be of opinion that the said Rate of Twenty-five Years Purchase of the said average Profits is an inadequate Rate of Purchase of such Railway, reference being had to the Prospects thereof, to require that it shall be left to Arbitration, in case of Difference, to determine what (if any) additional Amount of Purchase Money shall be paid to the said Company: Provided also, that such Option of Purchase shall not be exercised, except with the Consent of the Company, while any such revised Scale of Tolls, Fares, and Charges shall be in force.

S-III Existing Railways not to be subjected to the Options.

III Existing Railways not to be subjected to the Options.

III. Provided always, and be it enacted, That the Option of Revision or Purchase shall not be applied to any Railway made or authorized to be made by any Act previous to the present Session; and that no Branch or Extension of less shan Five Miles in length of any such Line of Railway shall be taken to be a new Railway within the Provisions of this Act; and that the said Option of Purchase shall not be exercised as regards any Branch or Extension of any Railway, without including such Railway in the Purchase, in case the Proprietors thereof shall require that the same be so included.

S-IV Reservation to Parliament of the Consideration of future Policy in regard to the said Options.

IV Reservation to Parliament of the Consideration of future Policy in regard to the said Options.

IV. 'And whereas it is expedient that the Policy of Revision or Purchase should in no manner be prejudged by the Provisions of this Act, but should remain for the future Consideration of the Legislature, upon Grounds of general and national Policy: And whereas it is not the Intention of this Act that under the said Powers of Revision or Purchase, if called into use, the public Resources should be employed to sustain an undue Competition against any independent Company or Companies;' be it enacted, That no such Notice as herein-before mentioned, whether of Revision or Purchase, shall be given until Provision shall have been made by Parliament, by an Act or Acts to be passed in that Behalf, for authorizing the Guarantee or the Levy of the Purchase Money herein-before mentioned, as the Case may be, and for determining, subject to the Conditions herein-before mentioned, the Manner in which the said Options or either of them shall be exercised; and that no Bill for giving Powers to exercise the said Options, or either of them, shall be received in either House of Parliament unless it be recited in the Preamble to such Bill that Three Months Notice of the Intention to apply to Parliament for such Powers has been given by the said Lords Commissioners to the Company or Companies to be affected thereby.

S-V Accounts to be kept, and to be open to Inspection.

V Accounts to be kept, and to be open to Inspection.

V. And be it enacted, That, from and after the Commencement of the Period of Three Years next preceding the Period at which the Option of Revision or Purchase becomes available, full and true Accounts shall be kept of all Sums of Money received and paid on account of any Railway within the Provisions herein-before contained, (distinguishing, if the said Railway shall be a Branch Railway or one worked in common with other Railways, the Receipts, and giving an Estimate of the Expences on account of the said Railway, from those on account of the Trunk, Line, or other Railways,) by the Directors of the Company to whom such Railway belongs or by whom the same may be worked; and every such Railway Company shall once in every Half Year during the said Period of Three Years cause a half-yearly Account in abstract to be prepared, showing the total Receipt and Expenditure on account of the said Railway for the Half Year ending the Thirtieth Day ofJune and the Thirty-first Day of December respectively, or such other convenient Days as shall in each Case be directed by the said Lords Commissioners, under distinct Heads of Receipt and Expenditure, with a Statement of the Balance of such Account, duly audited and certified under the Hands of Two or more Directors of the said Railway Company, and shall send a Copy of the said Account to the said Lords Commissioners on or before the last Days of August and February respectively, or such other Days as shall in each Case be directed by the said Lords Commissioners, in each Year; and it shall be lawful for the said Lords Commissioners, if and when they shall think fit, to appoint any proper Person or Persons to inspect the Accounts and Books of the said Company during the said Period of Three Years; and it shall be lawful for any Person so authorized, at all reasonable Times, upon producing his Authority, to examine the Books, Accounts, Vouchers, and other Documents of the Company at the principal Office or Place of Business of the Company, and to take Copies or Extracts therefrom.

S-VI Companies to provide One cheap Train each Way daily.

VI Companies to provide One cheap Train each Way daily.

VI. 'And whereas it is expedient to secure to the poorer Class of Travellers the Means of travelling by Railway at moderate Fares, and in Carriages in which they may be protected from the Weather;' be it enacted, That on and after the several Days herein-after specified all Passenger Railway Companies which shall have been incorporated by any Act of the present Session, or which shall be hereafter incorporated, or which by any Act of the present or any future Session have obtained or shall obtain, directly or indirectly, any Extension or Amendment of the Powers conferred on them respectively by their previous Acts, or have been or shall be authorized to do any Act unauthorized by the Provisions of such previous Acts, shall, by means of One Train at the least to travel along their Railway from one End to the other of each Trunk, Branch, or Junction Line belonging to or leased by them, so long as they shall continue to carry other Passengers over such Trunk, Branch, or Junction Line, once at the least each Way on every Week Day, exceptChristmas Day and Good Friday (such Exception not to extend to Scotland ), provide for the Conveyance of Third Class Passengers to and from the terminal and other ordinary Passenger Stations of the Railway, under the Obligations contained in their several Acts of Parliament, and...

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