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SOURCE ROOM

An Act to facilitate the Dissolution of certain Railway Companies（Railway Companies Dissolution Act 1846）, 9 & 10 Vict. c. 28

Parliament of the United Kingdom — King's Printer's version published on legislation.gov.uk (The National Archives).

Claims Supported by This Source

  1. Enacted on July 3, 1846. Article 1: Persons who, before the enactment of this Act, attempted to form a railway company by subscription contract or other agreement and have not yet obtained an Act of Parliament, may dissolve the company through the procedures of this Act, even if the contract does not provide for dissolution.
  2. Articles 2–3: The committee (provisional directors) may convene a meeting of shareholders to decide on dissolution, and if they do not convene it within 6 days of a written request from 5 shareholders, those shareholders may convene it themselves. After a request is made, the expenditure of money, making of contracts, and issuing of shares or scrip shall cease, except for the payment of just debts and the costs of the meeting.
  3. Articles 5–6: Notice of the meeting shall be given not less than 8 days and not more than 15 days before in the London Gazette and three London daily newspapers. Those who may attend are persons presenting shares, scrip, or receipts for deposit, and their proxies. Article 12: The persons who are for the time being in possession of them shall be deemed shareholders, without regard to the legality of any transfer.
  4. Article 13: One share, one vote. Article 15: The attendance of persons representing at least one-third of the issued shares, scrip, and receipts is required, and dissolution requires the consent of either a majority of all issued scrip or at least three-fifths of the votes of those present. Article 16: The minutes signed by the chairman shall be advertised in the same newspapers as the notice of the meeting.

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