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CANAL (CARRIERS) ACT 1847

CANAL (CARRIERS) ACT 1847 - LONG TITLE

An Act to amend an Act to enable Canal Companies to become
Carriers upon their Canals.{1}
[22nd July 1847]
Preamble, which recites the Canal Carriers Act 1845 (c.42), rep. by
SLR 1891[

CANAL (CARRIERS) ACT 1847 - SECT 1
Recited Act incorporated.

1.] The said recited Act shall be incorporated with this Act.

CANAL (CARRIERS) ACT 1847 - SECT 2
Borrowing by canal companies adopting recited Act.

2. It shall be lawful to the proprietors, trustees, and undertakers
of any canal, river, or navigation who shall have in the manner
provided by the said recited Act adopted the powers and provisions
of the same to borrow on mortgage or bond, in the manner or as
nearly as may be in the manner prescribed by the Companies Clauses
Consolidation Act, 1845, ... any sum or sums of money not exceeding
in all at any one time one tenth part of the paid-up capital
stock of such proprietors, trustees, or undertakers respectively, and
to apply the monies so raised to the purposes of the said recited
Act, or any of such purposes: Provided always, that the monies so
borrowed, shall not be applied to any other purposes whatsoever:
Provided also, that the monies so to be borrowed, together with any
monies otherwise borrowed by any such proprietors, trustees, or
undertakers as aforesaid, shall not in all exceed one third part of
the paid-up capital of such proprietors, trustees, or undertakers
respectively; and that no mortgage or bond to be granted for any
monies borrowed in virtue of this Act shall prejudice or affect any
security previously granted for any monies borrowed by virtue of any
other Act or Acts of Parliament relating to any such canal, river,
or navigation.

CANAL (CARRIERS) ACT 1847 - SECT 3
1845 c.16 as to borrowing, &c. incorporated with this Act.

3. And for the purposes of this Act, such of the clauses and
provisions of the Companies Clauses Consolidation Act, 1845, ... as
relate to the borrowing of money by companies on mortgage or bond,
and to the conversion of borrowed money into capital, shall be
incorporated with this Act.

CANAL (CARRIERS) ACT 1847 - SECT 4
Saving as to future Acts.

4. Nothing herein contained shall be construed to exempt any canal
or navigation company who have adopted or shall adopt the powers of
the said recited Act from the operation of any general Act
regulating the manner of charging tolls and other charges upon
canals or navigations in respect of passengers, goods, animals,
articles, and things, of a like description, that may be passed in
the course of this or any future session of Parliament.

S.5 rep. by SLR 1875