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RAILWAY COMPANIES ACT 1867 - SECT 6

6. Where a company are unable to meet their engagements with their creditors,
the directors may prepare a scheme of arrangement between the company and
their creditors (with or without provisions for settling and defining any
rights of shareholders of the company as among themselves, and for raising, if
necessary, additional share and loan capital, or either of them), and may file
the same in the Court of Chancery in... Ireland, ... with a declaration in
writing under the common seal of the company to the effect that the company
are unable to meet their engagements with their creditors, and with an
affidavit of the truth of such declaration made by the chairman of the board
of directors and by the other directors, or the major part in number of them,
to the best of their respective judgment and belief.

© 1867 Crown Copyright

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