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RAILWAY COMPANIES ACT 1867 - SECT 25

Restriction on rate of interest on debenture stock already authorized, but not issued.

25. Provided, that any debenture stock the creation whereof has been
authorized by a company, but which has not been issued, before the passing of
this Act, shall not be issued on any terms other than those whereon it might
have been issued if this Act had not been passed, unless and until the issue
thereof on terms other than as aforesaid is after the passing of this Act
authorized by the company in manner provided in section twenty-two of the
Companies Act, 1863.

© 1867 Crown Copyright

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