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New Zealand Legislation: Acts

Acts are laws made by Parliament

Wellington and Manawatu Railway Purchase Act 1908

Public Act	1908 No 221
Date of assent	25 September 1908

Contents

Preamble

2 Vesting of railway, etc, in Crown

3 Purchase-money

4 Purchase-money to include sum expended in purchase of debentures

5 Payment of residue of purchase-money

6 Payment of interest by Company. Payment of interest by Crown

7 Additional payment of $30,000 for possession of railway on 7th December, 1908

8 Residue of purchase money to be paid in cash or debentures at option of Company

9 Payment by Crown for railway stores. To be included in purchase-money

10 Transfer of documents, etc, to Crown

11 Prior to vesting of railway in Crown, authorised Government officials to have right of entry upon railway, etc

12 Assignment of contracts by Company

13 Company to maintain property in good repair prior to vesting in Crown

14 Company not to create incumbrance over property after passing of Act

15 Company to maintain policies of fire insurance until property vested in Crown

16 Company to have use of head office for one year after passing of Act

17 Purchase-money, etc, payable either in London or in New Zealand

18 Act deemed to constitute a contract

19 Disputes as to interpretation to be settled by arbitration

20 On date of vesting, railway deemed to be a Government railway opened for traffic. Application of by-laws and regulations

21 Outstanding debentures of Company to be paid by the Crown

22 Rights of debenture-holders, mortgagees, etc, saved

23 Public roads, etc, not affected

24 Registration of title of Crown

25 Minister of Finance may raise moneys for purposes of Act

26 Moneys raised to be paid to Public Works Fund

27 Servants of Company may be appointed permanent officers in Government Railways Department

28 Provisions as to contributors to Government Railways Superannuation Fund who become officers of Government Railways Department [Repealed]

29 Provisions as to contributors who do not become officers of Government Railways Department

Schedule
Property vested in the Crown by virtue of this Act.

An Act to carry into Effect the Purchase of the Wellington and Manawatu Railway by the Crown.

Preamble
WHEREAS by virtue of the Railways Construction and Land Act 1908, the Crown is entitled to purchase the railway and undertaking of the Wellington and Manawatu Railway Company (Limited), (hereinafter called the Company): And whereas the terms and conditions of the purchase have been settled by a provisional agreement entered into between the Company and the Minister of Railways: And whereas on the thirty-first day of August, nineteen hundred and eight, in pursuance of the said agreement, the sum of one million dollars was expended by the Minister of Finance in the purchase of certain debentures theretofore issued by the Company, and the said debentures are now held by the Crown: And whereas it is expedient to make legislative provision for the confirmation of the said agreement, and for carrying the same into effect, in manner hereinafter appearing:
The reference to “one million dollars” was substituted, as from 10 July 1967, for a reference to “five hundred thousand pounds” pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).

BE IT THEREFORE ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows: