Duchess to Mount Isa Railway Act Amendment Act of 1929 (20 Geo v No. 6) (Qld)

]2816 RAILWAYS. Duchess to Mount Isa Raaway Act Amendment Act. 20 GEO. V. No. 6, RAILWAYS. 20 J? ~. o6. V. An Act to Amend H The Duchess to Mount Isa THE DUCHESS TO MOUNT ISA RAILWAY Railway Act of 1925" in certain particulars. [ASSENTED TO 4TH OCTOBER, 1929.] A! . IE! ~ ~ ENT B E it enacted by the King's Most Excellent Majesty, ACT OF 1929. 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 :- Short title 1. This Act may be cited as "The Duchess to Mount :~ ~ struction. Isa Railway Act Amendment Act of 1929," and shall be read as one with *"The Duchess to Mount Isa Railway Act of 1925," herein referred to as the Principal Act. The Principal Act and this Act may be collectively cited as " The Duchess to Mount Isa Railway Acts, 1925 to 1929." Amendment of s. 2 of Principal Act. 2. The Principal Act is amended as follows : - Subsec.4. (i.) The following proviso is added to subsection four of section two, as follows :- Saving of "Provided, however, that the aforesaid provisions sreusbpseecct. o4fin of this subsection shall not apply to and shall not have debentures. effect in respect of the debenture or debentures referred to in the next following subsection hereof, and shall not prohibit any assignment or transfer by way of mortgage, charge, bill of sale, or other security at any time given by such company to secure any such debenture or debentures or any assignment or transfer which may be made in pursuance and exercise of the powers contained in any such mortgage, charge, bill of sale, or other security." (ii.) The following provisions are added to subsection five of the said section two, as follows:- C~nstruction "Provided always that the aforesaid provisions of 5 ofosnubissseucetioofn th' IS subsect'IOn w1lereby such agreement I . S deemed t 0 be debentures and to have the effect of a valid and subsisting first by company. mortgage and charge of and OVtr such mining properties, and of a bill of sale of and over all such plant and equipment, to Sf,Cure each and every amount which may then be payable or guaranteed to the Commissioner for Railways or may thereafter become payable to the * Hi Geo. V. No. 28, supra, pag" 11527.

RAILWAYS. 1929. D7lChess to .Mount Isa Railway Act Amendment Act. Commissioner for Railways under or pursuant to the terms of such agreement, shall not apply to and shall not have effect in respect of any debenture or series of debentures which such company may from time to time issue (of the issue of which due notice shall be conveyed to the Governor in Council), but such provisions shall be read and construed to the intent and effect that such first mortgage and charge and bill of sale shall be postponed to any such debenture or series of debentures which have been so issued. Moreover, it is hereby declared that any mortgage, charge, bill of sale, or other security over such mining properties, plant, and equipment at any time given by such company to secure any such debenture or series of debentures shall be a valid and subsisting first mortgage, charge, bill of sale, or other security over such mining properties, plant, and equipment, and shall take priority over any security in favour of the Commissioner for Railways as referred to in this subsection. And further, any order obtained by the Commis- sioner for Railways for the sale of all or any of the property deemed to be comprised in such mortgage, charge, or bill of sale as referred to in this subsection shall not be in priority to but postponed to any such debenture or series of debentures so issued or security as aforesaid given therefor. And the provisions of this subsection shall be so rea.d and construed, and any registration of such agreement in accordance therewith shall take effect accordingly." 12817 • ROYAL NATIONAL, ETC., ASSOCIATION. See PARKS AND PUBLIC LAND. SOLDIERS MEMORIAL, PITTSWORTH. See PATRIOTIC FUNDS. STATE HOTEL, BABINDA. See LIQUOR. TRADE COMMISSIONER. Bee J~ IQUOR (BABINDA STATE HOTEL).