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TRANSFER OF RAILWAYS (IRELAND) ACT 1890 - SECT 13

Dividends on baronial guaranteed shares.

13. The net receipts from time to time of the transferred undertaking
applicable to dividend shall be applied in the first place in payment of
dividend on the baronial guaranteed shares at the rate prescribed in the
presentment of the [county council] by which the guarantee shall have been
given, and subject to any agreement or guarantee which may be made or given by
the railway company under this Act the holders of those shares shall not be
entitled to any dividend out of any receipts or profits of the railway company
other than the net profits of the transferred undertaking. And the holders of
the baronial guaranteed shares shall not be entitled in respect thereof to any
dividend in excess of the said prescribed rate, but the surplus net profits of
the transferred undertaking in any half-year after payment of a dividend at
the said prescribed rate on the baronial guaranteed shares, and subject to the
rights of the [county districts] under the fifth section of the Act of 1883
shall belong to the railway company, and may be applied by them accordingly.

© 1890 Crown Copyright

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