A n Act to e n a b l e " T h e A u s t r a l i a n Gas-light
C o m p a n y " to increase t h e i r Capital Stock
to l i m i t the liability of t h e Shareholders
to raise m o n e y by t h e issue of D e b e n t u r e s
or o t h e r w i s e and to extend t h e powers of
t h e C o m p a n y to p u r c h a s e a n d hold r e a l
p r o p e r t y . [14th April, 1883.]
W
H E R E A S for t h e p u r p o s e of e n a b l i n g t h e A u s t r a l i a n Gas-light
C o m p a n y to effectually c a r r y on t h e i r u n d e r t a k i n g a n d t h e
e x t e n d e d works of t h e said C o m p a n y t h e said C o m p a n y are desirous of
o b t a i n i n g t h e f u r t h e r powers hereinafter a p p e a r i n g B e it therefore
enacted by t h e Q u e e n ' s M o s t E x c e l l e n t Majesty b y a n d w i t h t h e advice
and
and consent of t h e Legislative Council a n d Legislative A s s e m b l y of
N e w S o u t h W a l e s in P a r l i a m e n t assembled a n d b y t h e a u t h o r i t y of
the same as follows :—
1. T h e A u s t r a l i a n G a s - l i g h t C o m p a n y m a y raise a n d c o n t r i b u t e
a m o n g s t t h e m s e l v e s or otherwise as t h e said C o m p a n y shall d e t e r m i n e
a f u r t h e r s u m or s u m s increasing t h e capital (including t h a t w h i c h t h e
C o m p a n y are n o w authorized to raise) to a s u m n o t e x c e e d i n g i n t h e
w h o l e t h e s u m of e i g h t h u n d r e d a n d fifty t h o u s a n d p o u n d s b y t h e issue
of n e w shares i n like m a n n e r as is directed b y t h e A c t of C o u n c i l
passed in t h e e i g h t h y e a r of t h e r e i g n of H i s late Majesty K i n g
William t h e F o u r t h i n t i t u l e d " An Act for Lighting with Gas the
Town of Sydney in the Colony of New South Wales and to enable certain
persons associated under the name style or firm of ' The
Australian
Gas-light Company' to sue and be sued in the name of the
Secretary
for the time being of the said Company and for other purposes
therein
mentioned."
2. I n t h e e v e n t of t h e assets of t h e said C o m p a n y b e i n g in­
sufficient to m e e t its e n g a g e m e n t s t h e shareholders shall in addition t o
t h e a m o u n t of t h e i r subscribed shares in t h e capital of t h e said C o m p a n y
b e responsible to t h e e x t e n t only of a s u m e q u a l to t h e a m o u n t of
t h e i r said shares P r o v i d e d always t h a t n o t h i n g h e r e i n contained shall
relieve t h e shareholders from a n y liability to c o n t r i b u t e t o t h e p a y m e n t
of a n y d e b t s or obligations incurred prior to t h e passing of this A c t .
3. T h e Directors for t h e t i m e b e i n g of t h e said C o m p a n y m a y
( p u r s u a n t to a n y order or resolution of a n y g e n e r a l m e e t i n g or special
general m e e t i n g ) from t i m e to t i m e borrow a n d t a k e u p by w a y of
loan a t interest a n y s u m or s u m s of m o n e y n o t e x c e e d i n g a t a n y t i m e
one-half of t h e a m o u n t of t h e capital of t h e said C o m p a n y t h e n actually
paid u p A n d t h e m o n e y s so borrowed shall be a c h a r g e u p o n t h e said
C o m p a n y its p r o p e r t y a n d effects a n d t h e D i r e c t o r s | m a y if t h e y shall
t h i n k lit issue d e b e n t u r e s for t h e a m o u n t thereof s u c h d e b e n t u r e s to
b e u n d e r t h e h a n d s of a n y t h r e e of t h e Directors a n d t h e S e c r e t a r y
for t h e t i m e b e i n g of t h e said C o m p a n y .
4. So m u c h of t h e t h i r d section of a n A c t of Council passed in
t h e t h i r t e e n t h y e a r of t h e r e i g n of H e r p r e s e n t M a j e s t y i n t i t u l e d
" An Act to amend an Act intituled ' An Act for lighting with Gas the
Town of Sydney in the Colony of New South Wales and to enable
certain persons associated under the name style and firm of The
Austra­
lian Gas-light Company to sue and be sued in the name of the
Secretary
for the time being of the said Company and for other purposes
therein
mentioned'"
as provides t h a t t h e said C o m p a n y shall n o t a t a n y one
t i m e hold or b e possessed of l a n d exceeding in t h e w h o l e t e n s t a t u t e
acres shall be a n d t h e s a m e is h e r e b y repealed.
5. N o t h i n g contained in t h i s A c t or in a n y of t h e said C o m p a n y ' s
p r i v a t e A c t s heretofore passed b y t h e L e g i s l a t u r e shall p r e v e n t t h e
said C o m p a n y b e i n g b r o u g h t u n d e r t h e provisions of a n y general A c t
which m a y be passed by t h e P a r l i a m e n t of N e w S o u t h Wales a p p l y i n g
e q u a l l y to C o m p a n i e s engaged i n t h e m a n u f a c t u r e of gas in t h e said
Colony w i t h reference to t h e m a n u f a c t u r e a n d sale of gas nor e n t i t l e
the said C o m p a n y t o c o m p e n s a t i o n f r o m t h e p u b l i c r e v e n u e by reason
of the provisions of such g e n e r a l A c t for t h e p u r p o s e aforesaid b e i n g
m a d e applicable to a n d b i n d i n g u p o n t h e said C o m p a n y .
6. T h i s A c t m a y b e cited as t h e " A u s t r a l i a n G a s - l i g h t C o m p a n y ' s
A c t of 1 8 8 3 . "
An