1905 Nova Scotia Chapter 130 - An Act respecting the sale of Property of the Midland Railway Company, Limited

1905 Nova Scotia Chapter 130 - An Act respecting the sale of Property of the Midland Railway Company, Limited

An Act was approved by the Nova Scotia legislature on April 7th 1905 to allow the Dominion Atlantic Railway to acquire all the railway property, equipment and franchises and powers of the Midland Railway Company. The Midland Railway Company was to be wound up after outstanding items were satisfied.

Summaries of the various sections of the act are just below, while digital images of the 2 pages of the act from the statute books in the Archives of Nova Scotia are shown at the bottom of this page.

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Summary of the act:

Preamble

The Whereas clauses:

First whereas paragraph says the Midland Railway Company owns a railway complete from Windsor to Truro, and

Second whereas paragraph says the shareholders of the Midland Railway Company have voted to sell the entire railway undertaking, and

Third whereas paragraph says the Dominion Atlantic Railway Company has agreed to issue and deliver to the Midland Railway Company certain debenture stock as consideration for the sale, Therefor

Section 1 of this act of 1905 authorizes the Midland Railway Company to convey its entire undertaking to the Dominion Atlantic Railway Company. The Midland Railway Company can dispose of the debentures from the DAR however it pleased.

Section 2 required the Midland Railway Company to entirely cease its business as a railway company and no longer use its corporate name, except for the purposes of collecting any outstanding claims it may have, and to wind up the company.

Section 3 allowed the DAR to construct a line of railway from Truro to the shores of the Northumberland Strait along any route subject to the approval of the Governor-in-Council.

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Reference Tag

Please use this citation when referring to this page: 1905 Nova Scotia Chapter 130 - An Act respecting the sale of Property of the Midland Railway Company, Limited

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Digital copy of the Act:

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