1900 - Bill 185 - An Act to Authorize the Sale of the Yarmouth Steamship Company’s Property to the Dominion Atlantic Railway Company.
A Private Member's Bill was presented to the Parliament of Canada and passed into law in 1900 which authorized the sale of the Yarmouth Steamship Company to the DAR
In the text shown below, the legislation has explanatory marginal notes shown within square brackets [thus].
A scan of Bill 185 appears below, while the contents are shown here for search purposes:
PASSED BY HOUSE OF COMMONS, 1900.
BILL NO. 185.
An Act to authorize the sale of the Yarmouth Steamship Company’s property to the Dominion Atlantic Railway Company.
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows :—
[Yarmouth Steamship Co. may convey its property to Dominion Atlantic Railway Co.]
1. The Yarmouth Steamship Company, Limited, may sell and convey its property, rights, privileges, franchises and powers to’ the Dominion Atlantic Railway Company for such price and upon such terms and conditions as may be agreed upon between the directors of the said companies, and for that purpose may give such time for the payment of any portion of the purchase price as may be agreed upon, and may receive from the Dominion Atlantic Railway Company such securities for the payment thereof as may be agreed upon.
[Power to Dominion Atlantic Railway Co. to acquire property.]
2. The Dominion Atlantic Railway Company may enter into the said agreement of purchase upon the terms agreed upon between its directors and the directors of the Yarmouth Steamship Company, Limited, and may give securities for any portion of the said purchase price, and upon the completion of the said purchase the Dominion Atlantic Railway Company shall become vested with the property, rights, privileges, franchises and powers conveyed to it by the Yarmouth Steamship Company, Limited, in accordance with this Act.
[Agreement to be filed with Secretary of State.]
- 2. A duplicate of the agreement referred to in subsection 1 of this section shall, within thirty days after its execution, be filed in the office of the Secretary of State of Canada, and notice thereof shall be given by the Dominion Atlantic Railway Company in The Canada Gazette, and the production of The Canada Gazette containing such notice shall be primâ facie evidence of the requirements of this Act having been complied with.
[When sale to take effect.]
3. The said sale shall not take effect unless and until the terms and conditions thereof are sanctioned by the vote of the majority in amount of the stockholders of the Yarmouth Steamship Company, Limited, and of the Dominion Atlantic Railway Company present or represented by proxy at meetings of the said companies expressly called for the purpose of
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ratifying such sale, and such majority shall represent at least two-thirds in amount of the total stock of each of the said companies.
[Existing rights not affected.]
4. Nothing in this Act contained, or done in pursuance thereof, shall take away or prejudice any claim, demand, right, security, cause of action or complaint which any person has against the Yarmouth Steamship Company, Limited, nor shall such company, by reason of this Act, be relieved from the payment of any debt or the performance of any obligation, contract or duty.
[1900, c. , s.4 amended.]
5. Section 4 of the Act of the present session intituled An Act respecting the Yarmouth Steamship Company, Limited, is amended by substituting the word “months” for the word “weeks” in line 2 thereof.
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Please use this citation when referring to this page: 1900 - Bill 185 - An Act to Authorize the Sale of the Yarmouth Steamship Company’s Property to the Dominion Atlantic Railway Company.
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