ANNO QUINQUAGESIMO
VICTORIAE BEGINAE.
An Act to amend an Act intituled "An Act to
| incorporate | the Proprietors | of a | certain |
| Company called the 'Kiama Steam | Naviga |
| tion Company' and for other purposes | herein |
mentioned" and also to amend an Act in tituled "An Act to alter the title of the ' Kiama Steam Navigation Company' to that of the ' Illawarra Steam Navigation Com
| pany' and in other respects to amend | and |
| extend the provisions | of the Act of | Incor |
| poration | of the said Company." | [20th | April, |
| 1887.] |
| WH E R E A S b y t h e th i rd | incorporate | the proprietors | of a certain | Company called | the |
| section of an A c t | in t i tu led "An | Act | to |
| ' Kiama | Steam Navigation | Company' and for other purposes | herein |
| mentioned" | and hereinaf ter | called t he said P r inc ipa l Ac t i t was enacted |
t h a t i t should be lawful for t h e said Corporat ion from t ime to t i m e to ex tend or increase the i r capital for t h e t ime be ing b y t h e creat ion allot m e n t and disposal of new shares in t h e m a n n e r specified and set forth a n d subject to t h e rules regula t ions and provisions contained in t h e thereinbefore in pa r t reci ted deed of se t t lement b u t so never theless
| t h a t t h e to ta l a m o u n t of all t h e new shares to be so from | t ime to t ime |
| created should not toge ther w i th t h e original capi ta l exceed | fifty-seven |
| thousand pounds | A n d whereas b y t h e th i rd section of t h e " I l l awar ra |
| a | S t e a m |
| Steam Naviga t ion A c t " hereinafter | called t h e amend ing A c t i t was |
| enacted t h a t i t should be lawful for t h e said Corporat ion as and for | t h e |
| purposes | the re in ment ioned to | borrow and | t a k e | u p a t in teres t any |
| money no t a t any one | t i m e exceeding in | t h e whole t h e a m o u n t of t en |
| t housand pounds nor be ing more t h a n one th i rd p a r t of | t h e a m o u n t | of |
| capi ta l t h e n | ac tua l ly paid | u p | and | to | mor tgage | t h e | p rope r ty of | t h e |
| Company as securi ty for | r e p a y m e n t of such money and interes t | A n d |
| whereas t he capital of t h e said C o m p a n y a t present | consists of | eleven |
thousand a n d eighty-five shares of five pounds each A n d whereas i t has been found expedien t to amend the said Ac t s by giving au thor i ty to t he said Corporat ion to increase the i r capi tal and ex tend the i r borrowing powers propor t ionate ly Be i t therefore enacted b y t h e Queen ' s Mos t
| Exce l l en t | Majes ty by a n d wi th t h e advice and consent of t he | Legis la t 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 a n d b y t h e au thor i ty of t he same as follows :—
| 1. So m u c h of t h e t h i r d section of t h e said Pr incipal A c t | as |
| restr icts t h e creat ion of | t h e capi ta l of t h e | Company to a n | a m o u n t | not |
greater ( together wi th t h e original capital) t h a n fifty-seven thousand pounds is he reby repealed and in l ieu thereof t h e said Company is hereby au thor ized ( any th ing in t h e deed of se t t l ement of t h e said Company no twi ths tand ing) f rom t ime to t i m e to ex tend or increase i ts capital by t he creat ion and issue of new shares and to dispose of or allot t h e said new shares in such m a n n e r and on such t e rms as m a y be de termined on b y t h e shareholders of t h e said Company in general m e e t i n g he ld in accordance wi th t h e provisions of t h e deed of sett le
| m e n t of t h e said | Company in t h a t behalf | contained | b u t | so t ha t | t h e |
| whole capi ta l of t h e said Company inc luding t h e said or iginal | capi tal |
| of | fifty-seven | t h o u s a n d pounds shall no t exceed one h u n d r e d and | fifty |
| 2. So m u c h of t h e th i rd | section of t h e said | amend ing A c t | as |
res t r ic ts t h e bor rowing power of t he said Corporat ion to t h e a m o u n t there in ment ioned is hereby repealed a n d in l ieu thereof i t shall be lawful for t he said Corporat ion for t h e purposes and as in t h e said th i rd section ment ioned to borrow and t ake u p a t interest a n y m o n e y no t a t a n y one t ime exceeding in t h e whole a t h i rd pa r t of t h e a m o u n t of capi ta l represented by shares t h e n issued.
| 3 . | This A c t | m a y be cited as t h e " I l l awar ra | S team | Naviga t ion |
| A c t | A m e n d m e n t | A c t | of | 1887 . " |