|This is an unofficial archived version of The Winnipeg Transfer Railway Company (Limited) Incorporation Act|
as enacted by SM 1990-91, c. 1 on November 14, 1990.
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R.S.M. 1990, c. 227
The Winnipeg Transfer Railway Company (Limited) Incorporation Act
|Table of Contents|
WHEREAS An Act to Incorporate "The Winnipeg Transfer Railway Company (Limited)" was assented to March 31, 1890;
WHEREAS the preamble to this Act when it was originally enacted provided as follows:
WHEREAS by Letters Patent of incorporation, bearing date the sixth day of August, A.D. 1887, issued under the great seal of the Province of Manitoba, under and pursuant to "An Act to encourage the Building of Railways in Manitoba," and chaptered forty-seven of the Acts passed in the forty-sixth and forty-seventh years of the reign of Her Majesty Queen Victoria, "The Winnipeg Transfer Railway Company, Limited," was incorporated, for the purpose of constructing and operating a railway from or near the junction of the Red and Assiniboine Rivers, in the City of Winnipeg; thence along the bank of the Red River, to and across Point Douglas in the said City of Winnipeg; thence along the Red River, in a northerly direction, for a distance of about one mile, with power to build and operate branch lines of railway along said railway, in all not exceeding six miles in length;
AND WHEREAS the said "The Winnipeg Transfer Railway Company (Limited)" have constructed a railway, from a point on May Street in the said City of Winnipeg, at or near where the said May Street intersects the line of the Canadian Pacific Railway; thence following the bank of the Red River, in a southerly direction, to a point on the south side of Water Street in the said City of Winnipeg.
AND WHEREAS, the said Company have prayed that an Act may be passed by the Legislature of the Province of Manitoba incorporating the said "The Winnipeg Transfer Railway Company (Limited)" and increasing its capital stock, and it is considered expedient to grant the prayer of the said Company;
AND WHEREAS it is considered advisable to continue this Act in the body of Manitoba's laws in its original form without revision;
AND WHEREAS the Minister of Justice has caused this Act to be prepared in English and French for re-enactment in accordance with a judgment dated June 13, 1985 and an order dated November 4, 1985 of the Supreme Court of Canada;
THEREFORE, HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
The said "The Winnipeg Transfer Railway Company (Limited)," is hereby constituted and declared to be a body corporate and politic by and under the name of "The Winnipeg Transfer Railway Company (Limited,)" and the words "the company" hereinafter used shall mean "The Winnipeg Transfer Railway Company (Limited)."
In addition to the lines of railway already constructed, the Company may acquire, lay out, construct, complete and operate a line of railway from its northern terminus on May Street in a northerly or westerly direction to the most northerly or westerly limits of the City of Winnipeg; Provided that if the said Company shall desire to construct its line of railway across Main Street in the City of Winnipeg, the place and manner of crossing shall be subject to the approval of the Lieutenant-Governor-in-Council, who may make such regulations in respect thereof as may be expedient.
The several clauses of the Railway Act of Manitoba shall be and the same are hereby incorporated with and shall be deemed to be part of this Act, except in so far as the same are inconsistent with this Act, and the expression "this Act," when used in this Act shall be understood to apply to and include the clauses of the said Railway Act of Manitoba except as aforesaid.
The directors of the company under the authority of the shareholders given at any special general meeting, duly called for that purpose in such manner and with such notice as may be agreed to by every shareholder of the company, at which meeting shareholders who represent at least two-thirds in value of the subscribed stock of the company and who have paid all calls thereon are present in person or represented by proxy, shall have power to issue bonds, debentures or other securities to an amount not exceeding $300,000, at a rate not exceeding $100,000 per mile on the road now constructed and hereafter to be constructed, and from time to time, as the work of construction of the said railway proceeds, may sell or otherwise dispose of such bonds, debentures or other securities, and the Company is hereby authorized to secure and shall secure the payment of the principal and interest of said bonds, debentures or other securities by a mortgage deed on the Company's property, and rights of property of all kinds and description real and personal, acquired and to be acquired thereafter, including rolling stock and plant and its franchise as a corporation, and such mortgage deed may contain a description of the property mortgaged and such conditions respecting the payment of the bonds secured thereby and the interest thereon and the remedies which shall be enjoyed by the holders of such bonds, or by any trustee or trustees for them, in default of such payment and the enforcement of such remedies as may be stated in such mortgage deed, and as proof and notice of the legal execution and effectual delivery of such mortgage it shall be filed and registered in the office of the Provincial Secretary of the Province of Manitoba, and such filing and registration shall be deemed to be valid, any statute or provision to the contrary notwithstanding.
The Capital Stock of the Company shall be increased to three hundred thousand dollars, to be divided into three thousand shares of one hundred dollars each.
It shall be lawful for the Company to enter into an agreement or agreements with any other railway company for the leasing or amalgamation or transfer of the property and franchises of this Company to any other railway company incorporated under the laws of the Province of Manitoba, or the Dominion of Canada, and such lease amalgamation or transfer may be by deed, which, however, shall have no force or effect until they shall have been submitted to the shareholders of both companies at meeting of such shareholders respectively, duly called for the purpose thereof and approved by them.
The Company shall have power to make any running arrangements with any railway company whose line is now constructed, or which may hereafter be constructed situate on the line hereby authorized or crossing or connecting with the same upon terms to be approved by two-thirds of the shareholders at the annual meeting, or at a special meeting duly called for that purpose.
The Company shall have power to construct and operate elevators and warehouses.
Nothing in this Act contained shall or shall be held to apply to or affect any rights or liabilities of any persons or corporations which are now in litigation.
Said railway shall be commenced within one year and completed within three years from the coming into force of this Act, and this Act shall be void as to all portions of said line not completed within the time aforesaid.
This Act shall come into force on the day it is assented to.
NOTE: This Act replaces S.M. 1890, c. 65.