The Sligo Lighting and Electric Power Act, 1924
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Number 1 of 1924. | ||
THE SLIGO LIGHTING AND ELECTRIC POWER ACT, 1924 | ||
AN ACT TO EMPOWER THE GASLIGHT COMPANY OF SLIGO TO ERECT AND MAINTAIN A STATION FOR GENERATING ELECTRICAL ENERGY AND TO SUPPLY AND DISTRIBUTE ELECTRICITY, TO CHANGE THE NAME OF THE COMPANY TO THE SLIGO LIGHTING AND ELECTRIC POWER COMPANY, TO EXTEND THE PURPOSES OF THE COMPANY, TO CONFER FURTHER POWERS OF BORROWING AND OTHER POWERS UPON THE COMPANY, AND TO AMEND AND REPEAL RESPECTIVELY CERTAIN PROVISIONS OF THE SLIGO GAS COMPANY'S ACT, 1855, AND THE SLIGO GAS ORDER, 1893. | ||
[18th JULY, 1924]. | ||
WHEREAS by The Sligo Gas Company's Act 1855 The Gaslight Company of Sligo (hereinafter called the Company) were incorporated and authorised (amongst other things) to construct gasworks and supply gas within the limits of the Act and by the Sligo Gas Order 1893 (confirmed by the Gas Orders Confirmation (No. 2) Act 1893) the limits of supply of the Company were extended and are now the Urban District of Sligo and further powers were conferred on the Company: | ||
AND WHEREAS the Company were authorised under the Act of 1855 to issue and have issued six hundred ordinary Shares of ten pounds each and six hundred ordinary Shares of five pounds each (in respect of all which Shares the maximum dividend payable under the said Act is at the rate of eight pounds per cent. per annum) and being authorised under the Order of 1893 to raise additional capital to the amount of six thousand pounds by the issue of new ordinary Shares or Stock (in respect of which the maximum dividend payable under the said Order is at the rate of seven pounds per cent. per annum) or new Preference Shares or Stock (in respect of which the maximum dividend payable under the said Order is at the rate of five pounds per cent. per annum) have issued under the said Order four hundred New Preference Shares of ten pounds each but have not issued the rest of the additional Capital authorised by the said Order: | ||
AND WHEREAS the Company are authorised to borrow under the said Act and the said Order sums not exceeding in the aggregate the sum of three thousand five hundred pounds subject to the provisions of the said Act and the said Order but have not raised any moneys by borrowing as authorised by the said Act and the said Order: | ||
AND WHEREAS the erection of a generating station and works as hereinafter provided and the supply and distribution of electricity within the area of supply hereinafter defined would be of public and local advantage: | ||
AND WHEREAS the Company are willing at their own expense to construct such generating station and works and to supply and distribute electricity within such area under the powers and subject to the conditions hereinafter contained and it is expedient that the purposes of the Company be extended for that purpose and the powers hereinafter contained be conferred on them: | ||
AND WHEREAS it is expedient that in order to enable the Company to carry out the purposes aforesaid the Company should be empowered to raise money by borrowing on mortgage of the undertaking or by the creation and issue of debentures or debenture stock in accordance with the powers hereinafter provided: | ||
AND WHEREAS maps and plans showing the boundaries of the proposed area of supply and the Streets parts of Streets and Roads through which it is proposed to erect or lay down distributing mains and showing the situation and lines of the proposed works and the site of the land to be used for the purpose of a generating station and a book of reference containing the names of the owners or reputed owners, lessees or reputed lessees and occupiers of such land were duly deposited with the Clerk of the Peace for the County of Sligo the Secretary of the County Council of the County of Sligo and the Clerk of the Urban District Council of Sligo and are hereinafter referred to as the deposited maps plans and book of reference: | ||
AND WHEREAS it is expedient that certain provisions in The Sligo Gas Company's Act 1855 and the Sligo Gas Order 1893 contained respectively should be amended and repealed respectively as hereinafter provided and that the name of the Company should be changed to The Sligo Lighting and Electric Power Company: | ||
AND WHEREAS the aforesaid objects cannot be attained without the authority of the Oireachtas: | ||
BE IT THEREFORE ENACTED BY THE OIREACHTAS OF SAORSTAT EIREANN AS FOLLOWS:— |
