Illawarra Steam Navigation Act Amendment Act of 1887 50 Vic (NSW)

Petu South ales,

ANNO QUINQUAGESIMO

VICTORIA REGINA.

An Act to amend an Act intituled "An Act fo mavwanna seeax

Navigation Act

incorporate the Proprietors of a certain Ass. 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 ' INawarra Steam Navigation Com- pany and in other respects to amend and extend the provisions of the Act of Incor- rer of the said Company." [20th April, 1887.

AY ITEREAS by the third section of an Act intituled "An Act to Preamble, incorporate the proprictors of «a certain Company called the ' Kiama Steam Navigation Company' and for other purposes herein mentioned" and hereinafter called the said Principal Act it was enacted that it should be lawful for the said Corporation from time to time to extend or increase their capital for the time being by the creation allot- ment and disposal of new shares in the manner specified and set forth and subject to the rules regulations and provisions contained in the thereinbefore in part recited deed of settlement but so nevertheless that the total amount of all the new shares to be so from time to time created should not together with the original capital exceed fifty-seven

thousand pounds And whereas by the third section of the " Ilawarra at Steam

Capital may be increased to £150,000 in all.

50° VIC. 1887.

Saywell's Tramway Act Amendment.

Steam Navigation Act" hereinafter called the amending Act it was enacted that it should be lawful for the said Corporation as and for the purposes therein mentioned to borrow and take up at interest any money not at any one time exceeding in the whole the amount of ten thousand pounds nor being more than one third part of the amount of capital then actually paid up and to mortgage the property of the Company as security for repayment of such money and interest And whereas the capital of the said Company at present consists of eleven thousand and eighty-five shares of five pounds each And whereas it has been found expedient to amend the said Acts by giving authority to the said Corporation to increase their capital and extend their borrowing powers proportionately Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled and by the authority of the same as follows :—