1442
No. 10 of 1902.
Proceedings in case of insolvency of company.
*
Purchase by Government of tramway.
TRAMWAY.
2 months from the date of such order, under the authority of a certificate to that effect of the Governor-in-Council, remove the tramway or part of the tramway so discontinued, and the company shall pay to the Director of Public Works the cost of such removal and of the making good of the road by the Director of Public Works, such cost to be certified by him, and his certificate shall be final and conclusive, and if the company fail to pay the amount so certified within 2 months after delivery to it of such certificate or a true copy thereof, the Director of Public Works may (without any previous notice to the company but without prejudice to any other remedy which he may have for the recovery of the amount) sell and dispose of the materials of the tramway or part of the tramway removed, either by public auction or private contract and for such sum and to such person as he may think fit, and may out of the proceeds of such sale reimburse himself the amount of the cost certified as aforesaid, and of the cost of sale, and the balance, if any, of the proceeds of sale shall be paid to the company.
Insolvency of Company.
30. If it appears to the Governor-in-Council that the company is insolvent, so that it is unable to maintain the tramway or work the same with advantage to the public, the Governor-in-Council may enquire into the financial affairs of the company, and, if satisfied that the company is so insolvent as aforesaid, may by order declare that the powers of the company shall, at the expiration of 6 months from the making of the order, be at an end, and the powers of the company shall cease and determine at the expiration of the said period unless the same are purchased by the Government in manner by this Ordinance provided, and thereupon the Director of Public Works may remove the tramway in like manner and subject to the same provisions as to the payment of the costs of such removal and to the same remedy for recovery of such costs in every respect as in cases of removal under the preceding section.
Purchase of Tramway.
31. The Governor-in-Council may at the expiration of 50 years from the date of the commencement of this Ordinance, or at the expiration of any subsequent period of 5 years, or at the expiration
* As amended by No. 1 of 1912 and No. 43 of 1912 Supp. Sched.
* As amended by No. 1 of 1912.
Page 15
Page 16
1442
No. 10 of 1902.
Proceedings in case of insolvency of company.
*
Purchase
by Govern- ment of tramway.
TRAMWAY.
2 months from the date of such order, under the authority of a certificate to that effect of the Governor-in-Council, remove the tramway or part of the tramway so discontinued, and the company shall pay to the Director of Public Works the cost of such removal and of the making good of the road by the Director of Public Works, such cost to be certified by him, and his certificate shall be final and conclusive, and if the company fail to pay the amount so certified within 2 months after delivery to it of such certificate or a true copy thereof, the Director of Public Works may (without any previous notice to the company but without prejudice to any other remedy which he may have for the recovery of the amount) sell and dispose of the materials of the tramway or part of the tramway removed, either by public auction or private contract and for such sum and to such person as he may think fit, and may out of the proceeds of such sale reimburse himself the amount of the cost certified as aforesaid, and of the cost of sale, and the balance, if any, of the proceeds of sale shall be paid to the company.
Insolvency of Company.
30. If it appears to the Governor-in-Council that the company is insolvent, so that it is unable to maintain the tramway or work the same with advantage to the public, the Governor-in-Council may enquire into the financial affairs of the company, and, if satisfied that the company is so insolvent as aforesaid, may by order declare that the powers of the company shall, at the expiration of 6 months from the making of the order, be at an end, and the powers of the company shall cease and determine at the expiration of the said period unless the same are purchased by the Government in manner by this Ordinance provided, and thereupon the Director of Public Works may remove the tramway in like manner and subject to the same provisions as to the payment of the costs of such removal and to the same remedy for recovery of such costs in every respect as in cases of removal under the preceding section.
Purchase of Tramway.
31. The Governor-in-Council may at the expiration of 50 years from the date of the commencement of this Ordinance, or at the expiration of any subsequent period of 5 years, or at the expiration
* As amended by No. 1 of 1912 and No. 43 of 1912 Supp. Sched.
As amended by No. 1 of 1912.
Page 15Page 16
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