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TRANSFER OF RAILWAYS (IRELAND) ACT 1890 - SECT 14

Order in Council giving powers to railway company.

14. Where the Railway and Canal Commission have approved of the agreement for
transfer, the Lord Lieutenant in Council may, on the application of
the railway company, make and settle an Order in Council authorising
the railway company to do all or any of the following matters; (that is to
say,)

(1)To raise from time to time additional capital by the issue of new stock or
shares other than the baronial guaranteed shares:

(2)To borrow money on mortgage of the transferred undertaking, or of the
company's other undertakings, or any of them, or on any combination of such
securities:

(3)To create and issue debenture stock.

All powers conferred upon the railway company by such order shall be exercised
in conformity with such conditions and with and subject to such limitations
and powers as may be prescribed by the order.

Such order shall only be made where the railway company establishes to the
satisfaction of the Lord Lieutenant in Council that a copy of the proposed
order has been submitted to the proprietors of the railway company, held
specially for that purpose, as if such order were a Bill promoted in
Parliament by the railway company, and that all matters and things have been
done and have happened, and all times have elapsed which if such order were a
Bill so promoted as aforesaid, should have been done, and have happened, and
elapsed in order to constitute compliance with the standing orders of
Parliament applicable to Bills promoted by railway companies for the like
purposes as those referred to in this section.


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© 1890 Crown Copyright

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