View source for 1908 - Chapter 101 - Act Passed Authorizing Construction of North Mountain Division, also Housekeeping Changes

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==1908 - 101 - Act Passed Authorizing Construction of North Mountain Division, also Housekeeping Changes==

A Private Member's Bill was passed by the Parliament of Canada which received royal assent on April 8, 1908. Chapter 101 of the Acts of 1908 authorized the construction of the North Mountain Division of the DAR. Also included were some housekeeping amendments to previous acts and some new provisions dealing with directors, annual meetings, and an Employees' Sick and Benefit Fund.<br>
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A draft of this Act, Bill 50 of 1907, is shown [[1907_-_Bill_50_-_Act_Authorizing_Extension_of_the_Cornwallis_Valley_Railway#Digital_copies_of_the_Bill|here.]]


In the text shown below, the legislation has explanatory marginal notes shown within square brackets [thus].
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A scan of Act 101 appears below, while the contents are shown here for search purposes:
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{| class="wikitable"
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|7-8 EDWARD VII.<br>
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CHAP. 101.<br>
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An Act respecting the Dominion Atlantic Railway Company.<br>
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[''Assented to 8rd April, 1908.'']<br>
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[Preamble.]<br>
WHEREAS the Dominion Atlantic Railway Company has by its petition prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the said petition: Therefore His Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:—<br>
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[Line of railway authorized.]<br>
1. The Dominion Atlantic Railway Company, hereinafter called “the Company,” may lay out, construct and operate a railway of the gauge of four feet eight and one-half inches, commencing at a point on the Company’s railway, formerly known as the Cornwallis Valley Railway, between Kentville and Canning, thence running westerly and terminating at a point on the Company’s railway between Berwick and Middleton, in the province of Nova Scotia. <br>
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[Time for construction limited.]<br>
2. Unless the Company commences within two years, and completes and puts in operation within five years, after the passing of this Act, the railway which the Company is hereby authorized to construct, the powers hereby granted for construction shall cease with respect to so much of the said railway as then remains uncompleted.<br>
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["North Mountain Division."]<br>
3. The railway described in section 1 of this Act shall be designated and known as the North Mountain Division of the Dominion Atlantic Railway.<br>
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[Issue of securities limited.]<br>
4. The Company may issue securities upon the said North Mountain Division for an amount not exceeding five thousand pounds sterling per mile of the said division, constructed or under contract to be constructed.<br>
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109<br>
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|Chap. 101. Dominion Atlantic Railway Co. 7-8 EDW. VII.<br>
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[1900, c. 59, s. 15 repealed.]<br>
5. Section 15 of chapter 59 of the statutes of 1900, giving certain powers to the Company to become a party to promissory notes and bills of exchange, shall no longer apply to the Company, but the Company shall hereafter have the same powers as to becoming a party to or making or issuing promissory notes and bills of exchange and other commercial securities, as are conferred by The Railway Act, and the said section 15 is hereby repealed.<br>
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[1900, c. 59, s. 10 repealed.]<br>
6. Section 10 of chapter 59 of the statutes of 1900 is repealed.<br>
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[Number of directors.]<br>
7. Subject to the provisions of The Railway Act, the number of directors shall be three, unless and until such number is increased as herein provided; and, subject as aforesaid, the Company may, from time to time, by by-law, increase the number of directors to any number not exceeding five, or diminish the number of directors to any number not less than three.<br>
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[Term of office.]<br>
8. The said directors, one or more of whom may be paid directors, may hold office for three years, one or more of such directors retiring from the board in each year by rotation in manner to be prescribed by by-law of the Company.<br>
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[Annual meeting.]<br>
9. The first annual meeting of the shareholders, after the thirty-first day of March, one thousand nine hundred and seven, shall be held on the second Friday in October, one thousand nine hundred and nine, and thereafter the annual meeting of the shareholders shall be held on the second Friday in October.<br>
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[Contributions to employees' sick and benefit fund.]<br>
10. For the purpose of providing for contributions to the sick and benefit fund of its employees, the Company may, from time to time, contribute to the said fund out of the gross earnings of the Company, such amounts as the directors determine.<br>
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:[Chargeable to working expenditure.]
:2. Any sums contributed to the said fund by the Company shall be considered as forming part of the working expenditure of the Company.<br>
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:[By-laws for management of fund.]
:3. The directors may make and adopt all such rules, by-laws and regulations, not inconsistent with law, as they deem proper and necessary for the due and efficient management, administration and disposition of the said fund. <br>
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OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the King’s most Excellent Majesty.<br>
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110<br>
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==Reference Tag==

Please use this citation when referring to this page: [[1908 - 101 - Act Passed Authorizing Construction of North Mountain Division, also Housekeeping Changes]]<br>
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==Digital copies of the Act:==
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File:1908Federal101p109.jpg
File:1908Federal101p110.jpg
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[[Category: Legislation and Bills]]