Brisbane Gas Company Acts Amendment Act of 1952 (1 Eliz Ii No. 20) (Qld)

II. LOCAL, PERSONAL, AND PRIVATE ACTS OF THE PARLIAMENT OF QUEENSLAND. 15° GEO. VI. AND 1° ELIZ. II. COMPANIES. An Act to Amend “The Brisbane Gas Company Acts, 1864 to 1950,” in a certain particular. [A ssented to 22 nd A pril , 1952.] TH b isLa C ompany A cts A mendment act of 1952. B E it enacted by the Queen’s Most Excellent Majesty, by and with the advice and consent of the Legis­ lative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:— 1. This Act may be cited as “ The Brisbane Gas short title Company Acts Amendment Act of 1952” and shall be ^,truotion> read as one with * “ The. Brisbane Gas Company Acts, ' 1864 to 1950,” herein referred to as the Principal Act. The Principal Act and this Act may be collectively elective cited as “ The Brisbane Gas Company Acts, 1864 to11 e- 1952.” 2. The following section is inserted after section New s. 2 a two of the Principal Act, namely : — inserted. “ [2 a .] The powers by this Act or by the said Directors, indenture or deed of settlement conferred on the said company as are not by this Act or the said indenture or deed of settlement required to be exercised by the said company in general meeting may be exercised by the said company’s board of directors. Questions arising at any meeting of the said board shall be decided by a majority of votes of the directors present thereat. In case of an equality of votes the Chairman shall have a second or casting vote.” * 28 V. and amending Acts.

626 COMPANIES. Brisbane Gas Company, Etc., Act. 1 E liz . II. No. 20,1952. New s. 5 a 3. The following section is inserted after section inserted. five of the Principal Act, namely :— Borrowing powers. “ [5 a .] (2.) Notwithstanding anything contained in - this Act or in the said indenture or deed of settlement, it shall be lawful for the said company, and the said company shall have power, to borrow or raise money to such amount in such manner and upon such terms and conditions as the directors shall think fit and in particular by the issue of bonds, perpetual or redeemable debentures, or debenture stock or any mortgage charge pledge or lien upon the undertaking or the whole or any part of the said company’s property or assets (both present and future) including its uncalled capital for the time being and also by a similar mortgage charge or hen to secure and guarantee the performance by the said company of any obligations or liability it may undertake. (2.) The said indenture or deed of settlement (including the several laws, rules, regulations, clauses and agreements contained therein) is hereby amended to the extent necessary to enable the said company to exercise and perform, and otherwise to give operation and effect to, the powers conferred upon the said company by subsection one of this section.”