Australian Gas-light Company's Act of 1883 No aus (NSW)

and

An Act to enable " T h e Aus t ra l ian Gas-light

Company " to increase the i r Capital Stock to l imi t the liability of the Shareholders to raise money by the issue of Deben tu res or o therwise and to extend the powers of t he Company to purchase and hold rea l

proper ty . [14th April, 1883.]

WH E R E A S for t h e purpose of Company to effectually car ry on their u n d e r t a k i n g and t h e	extended works of t he said Company the said Company are desirous of
ob ta in ing t h e fu r ther powers hereinafter appear ing Be it therefore
enacted by t h e Queen ' s Mos t Exce l l en t Majesty by and wi th t he advice

enabl ing the Aus t ra l i an Gas-l ight

and consent of t he Legislat ive Counci l and Legis la t ive Assembly of N e w South Wales in P a r l i a m e n t assembled and by t h e au tho r i t y of the same as follows :—

1. The Aus t r a l i an Gas- l ight Company m a y raise and con t r ibu te

a m o n g s t themselves or otherwise as t he said Company shal l de te rmine a fur ther sum or sums increasing the capi tal ( including t h a t which the Company are now authorized to raise) to a s u m no t exceeding in t he whole the s u m of e ight h u n d r e d and fifty thousand pounds by the issue of new shares in l ike m a n n e r as is directed by t h e A c t of Counci l

passed in t he e igh th year of t h e re ign of H i s late Majesty K i n g

William t h e F o u r t h in t i tu led " An Act for Lighting with Gas the

Town of Sydney in the Colony of New South Wales and to enable	certain
persons associated under the name style or firm of ' The	Australian

Gas-light Company' to sue and be sued in the name of the Secretary

for the time being of the said Company and for other purposes	therein
mentioned."

2. I n t h e event of t he assets of t he said Company be ing in­ sufficient to mee t i ts engagemen t s the shareholders shall in addi t ion to t h e a m o u n t of the i r subscribed shares in t he capi tal of t he said Company be responsible to t he extent only of a s u m equal to t he a m o u n t of the i r said shares Provided a lways t h a t no th ing here in contained shall

relieve t he shareholders from any l iabil i ty to con t r ibu te to the p a y m e n t

of any debts or obligations incurred prior to t h e pass ing of this Act .

3. The Directors for the t ime be ing of t h e said Company may (pu r suan t to any order or resolut ion of any general m e e t i n g or special general meet ing) from t ime to t ime borrow and t ake u p by way of loan a t in teres t any sum or sums of money not exceeding a t any t ime one-half of t he a m o u n t of the capi ta l of t he said Company then actual ly paid u p A n d t h e moneys so borrowed shall be a charge upon the said Company its p roper ty and effects and t h e Directors |may if they shall t h i n k lit issue deben tures for the a m o u n t thereof such debentures to

be u n d e r t h e h a n d s of any t h r ee of t he Directors	and the	Secretary
for t h e t ime be ing of t h e said Company.

4. So m u c h of t he th i rd section of a n A c t of Council passed in

t he t h i r t e e n t h year of t he re ign of H e r present Majes ty in t i tu led " An Act to amend an Act intituled ' An Act for lighting with Gas the Town of Sydney in the Colony of New South Wales and to enable certain persons associated under the name style and firm of The Austra­

lian Gas-light Company to sue and be sued in the name of the	Secretary
for the time being of the said Company and for other purposes	therein

mentioned'" as provides t h a t t he said Company shall no t a t a n y one

t ime hold or be possessed of l and exceeding in t he whole t en	s ta tu te
acres shall be and the same is hereby repealed.

5. N o t h i n g contained in th is A c t or in any of t he said Company ' s

p r iva te Ac ts heretofore passed by the Legis la tu re shal l p revent t he

said Company be ing b r o u g h t unde r t he provisions of a n y general A c t

which may be passed by t h e Pa r l i amen t of N e w South Wales apply ing

equal ly to Companies engaged in t h e m a n u f a c t u r e of gas in t h e said Colony wi th reference to t h e manufac tu re and sale of gas nor ent i t le the said Company to compensat ion f rom the pub l i c revenue by reason of the provisions of such general A c t for t h e purpose aforesaid be ing

m a d e appl icable to and b ind ing upon t h e said Company .

6. This Ac t m a y b e cited as t he " Aus t ra l i an Gas- l ight Company ' s

A c t of 1 8 8 3 . "

A n