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THE

QUEBEC RAILWAY

STATUTES

& COMPILATION OF ALL RAILWAY CHARTERS GRANTED, WITH THE AMENDMENTS

THERETO, UP TO AND INCLUDING THE SESSION OF 1883

WITH A COPIOUS ALPHABETICAL INDEX

BY

CHRIS. MASSIAH

REVISED BY

R. J. BRADLEY, ADVOCATE

SECRETARY OF THE BAR OF QUEBEC

QUEBEO
PUBLISHED BY A. COTÉ & Co

1883

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An act for authorizing a Guarantee of Interest on a Loan to

be raised by Canada towards the construction of a Railway connecting Quebec and Halifax.

(12th April, 1867.)

VHEREAS the construction of a railway connecting the

V port of Rivière du Loup, in the province of Quebec, with the line of railway leading from the city of Halifax, in the province of Nova Scotia, at or near the town of Truro, in a line, and on conditions approved by one of Her Majesty's principal Secretaries of State, would conduce to the welfare of Canada and promote the interest of the British Empire :

And whereas it would greatly facilitate the construction of that railway (in this act referred to as the railway) if payment of interest on part of the money required to be raised for the same were guaranteed under the authority of Parliament:

Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the lords spiritual and temporal, and commons, in this present parliament assembled, and by the authority of the same as follows:

1. Subject to the provisions of this act, the commis. Power for trossioners of Her Majesty's treasury may guarantee, in such sury.com.ua manner and form as they think fit, payment of interest at a on loan. rate not exceeding four per centum per annum on any principal money not exceeding the sum of three million pounds sterling, to be raised by way of loan by the government of

The Canadian Railway Loan Act, 1867.

Canada for the purpose of the construction of the railway; and the commissioners of Her Majesty's treasury may from time to time cause to be issued out of the consolidated fund of the United Kingdom, or the growing produce thereof, any money required for giving effect to such guarantee.

Approval of 2. The commissioners of Her Majesty's treasury shall not ling and use of give any guarantee under this act unless and until an act railway for troops, &c. of the parliament of Canada has been passed, within two

years after the union of Canada under the British North
America Act, 1867, providing to the satisfaction of one of
Her Majesty's principal Secretaries of State, as follows:

1. For the construction of the railway :
2. For the use of the railway at all times for Her Ma-

jesty's military and other service:
Nor unless and until the line in which the railway is to be
constructed has been approved by one of Her Majesty's
principal Secretaries of State.

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Raising and 3. The commissioners of Her Majesty's treasury shall not
expenditure of give any guarantee under this act unless and until an act
a loan obarged 6
on Canadian, of the parliament of Canada has been passed providing, to
Revenue, with the satisfaction of the commissioners of Her Majesty's trea-
Sinking Fund,

'sury, as follows:
1. For the raising, appropriation and expenditure for the

purpose of the construction of the railway of a loan
not exceeding three million pounds sterling, bearing
interest at a rate not exceeding four per centum per

annum: 2. For charging the consolidated revenue fund of Canada

with the principal and interest of the loan immediately after the charges specifically made thereon by. sections one hundred and three, one hundred and four, and one hundred and five ot the British North

America Act, 1867: 3. For the payment by the government of Canada by

way of sinking fund of an annual sum at i he rate of one per centum per annum on the entire amount of principal money whereon interest is guaranteed, to be remitted to the commissioners of Her Majesty's treasury by equal half-yearly payments in such manner as they from time to time direct, and to be in. rested and accumulated under their direction in the names of four trustees, nominated from time to time, two by the commissioners of Her Majesty's treasury · and two by the government of Canada, such sinking The Canadian Railway Loan Act, 1867.

ag the cof the sinkin, he luan;

of Canada

fund and its accumulations to be invested in secu-
rities of the Provinces of Canada, Nova Scotia and
New Brunswick, issued before the union of Canada,
or, at the option of the government of Canada, in
such other securities as may be proposed by that
government and approved by the commissioners of
Her Majesty's treasury, and to be applied under the
direction of the commissioners of Her Majesty's trea-
sury in discharge of principal money whereon in-

terest is guaranteed ;
4. For charging the consolidated revenue fund of Canada

with the amount of the sinking fund immediately after

the principal and interest of the luan;
5. For charging the consolidated revenue fund of Canada

with any sum issued out of the consolidated fund of the
United Kingdom under this act, with interest thereon
at the rate of five per centum per annum, immediately

after the sinking fund;
6. For continuance of the sinking fund until all principal

and interest of the loan, and all sums issued out of the
consolidated fund of the United Kingdom under this
act, and all interest thereon, are fully discharged, or
until the sinking fund and its accumulations are ade-
quate to discharge so much thereof as remains

undischarged ;
7. For the raising by the government of Canada (without

guarantee by the commissioners of Her Majesty's trea-
sury) of all such money (if any) beyond the sum of
three million pounds sterling as, in the opinion of
one of Her Majesty's principal secretaries of state, will
be requisite for the construction of the railway, and
for charging the consolidated revenue fund of Canada
with the money so raised, and interest, immediately
after the charges made thereon in pursuance of the
foregoing provisions of this section.

account to be laid before

4. There shall be laid before both houses of parliament, Statement and

within fourteen days next after the beginning of every
session, a statement and account showing what has houses of Par-
been done from time to time in execution or pursu- liament.
ance of this act by or under the direction of the com-
missioners of Her Majesty's treasury, and one of
Her Majesty's principal secretaries of state, and the
parliament and government of Canada,

5. This act may be cited as The Canada Railway Loan Short title.

Act, 1867.

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