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‘Whereas by an Act passed in the Second Year of King William the Fourth, intituled An Act to empower Landed Proprietors in Ireland to sink, embank, and remove Obstructions in Rivers, it was enacted, that when any Persons should be desirous of undertaking the Execution of the Works provided for by that Act, and should, in manner and upon and after the Observance and Performance of the Preliminaries therein-after directed, make Application to the Lord Lieutenant or other Chief Governor or Governors of Ireland for the Time being, it should be lawful for the said Lord Lieutenant or other Chief Governor or Governors of Ireland, if he or they should so think fit, to issue a Commission authorizing and constituting such Persons Undertakers for the Execution of such of the Works provided for by that Act as might be included in such Application, or any of them; and in the said Act are contained Provisions forming such Persons, and their several and respective Successors, Executors, Administrators, and Assigns, into a Joint Stock Company, by such Name as therein mentioned: And whereas by a Commission issued by their Excellencies the Lords Justices of Ireland, bearing Date on or about the Twenty-fourth Day of December One thousand eight hundred and thirty-eight, after reciting, amongst other things, that it had been represented to the said Lords Justices that the several Persons therein-after named had agreed to form themselves into a Company for the Improvement of Lough Corrib in the Counties of Galway and Mayo, and the Lands contiguous thereto, the said Lords Justices did, by virtue of the said recited Act, authorize and constitute certain Persons therein named Undertakers for the Execution of the Works therein mentioned and referred to: And whereas an Act was passed in the Sixth Year of Her present Majesty, to amend the said Act of the Second Year of King William the Fourth: And whereas the Company of Undertakers formed under the said Commission have been since called and known by the Name of “The Company of Undertakers for the Improvement of Lough Corrib,” in the Province of Connaught: And whereas the said Company proceeded to execute certain Works in and by the said first-recited Act and the said Commission authorized, but failed to comply with the Provisions of the said recited Acts, and have long since discontinued and are unable to complete the said Works: And whereas the Commissioners of Public Works in Ireland, acting under the Authority of an Act passed in the Sixth Year of Her Majesty, intituled An Act to promote the Drainage of Lands, and Improvement of Navigation and Water Power in connexion with such Drainage, in Ireland, and of the Acts amending the same, have taken the necessary Steps, and have now made considerable Progress in the necessary Works, for the Drainage, not only of the Lands included in the said Commission, but of other Lands contiguous thereto, and also for the Improvement of the Navigation from the Sea at Galway Harbour in the County of the Town of Galway, through the County of Galway, to Lough Carra in the County of Mayo, and also for the Improvement of Mill Power of the several Mills deriving their Supply of Water from Lough Corrib, and all denominated by the said Commissioners “The District of Loughs Corrib, Mask, and Carra,” in the County of the Town of Galway, and Counties of Galway and Mayo: And whereas a free Grant has been made by Parliament of a Moiety of the estimated Expense of completing the said Navigation, the other Moiety of such last-mentioned Expenses being charged on the County of the Town of Galway and certain Portions of the Counties of Galway and Mayo respectively: And whereas the several Works which have been heretofore executed by the said Company under the Provisions of the said first-recited Act, and the Commission issued in pursuance thereof, and which may be made available for the Purpose of the Works of the said Commissioners of Public Works in the District of Loughs Corrib, Mask, and Carra, have been estimated at the Value of Three thousand two hundred Pounds: And whereas certain Lands and Rights in Land within the said District of Lough Corrib have been purchased by the said Company, and it has been represented by the said Company that they paid for such Lands and Rights Sums exceeding the Sum of One thousand eight hundred Pounds, and the Value of such Lands and Rights for the Purposes of the Works of the said Commissioners of Public Works has been estimated at the Sum of One thousand eight hundred Pounds: And whereas the said Company of Undertakers have agreed to transfer to the said Commissioners of Public Works in Ireland the Works which have been executed by the said Company, and also the said Lands and Rights, upon the Payment as herein-after mentioned of the Sum of Five thousand Pounds, being the Amount of the said Sums of Three thousand two hundred Pounds and One thousand eight hundred Pounds:’ 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, That from and after the passing of this Act it shall not be lawful for the said Company of Undertakers for the Improvement of Lough Corrib to proceed further in the Execution of any of the Works authorized in and by the said Acts, or either of them, or the said Commission under the said first-recited Act, or in any Manner whatsoever to interfere with or interrupt the Works heretofore executed or hereafter to be executed by the said Commissioners of Public Works in Ireland under the Provisions of the said thirdly-recited Act, or any of the Acts amending the same.
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Commissioners of Public Works, with Consent of Treasury, to pay into Bank, to the Credit of the Company, 3,200l. and 1,800l.
Application of the Money so paid in.
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II. And be it enacted, That it shall and may be lawful for the said Commissioners of Public Works, by and with the Sanction of the Commissioners of Her Majesty’s Treasury, out of any Monies at the Disposal of the said Commissioners of Public Works for the Purposes of the Works to be by them executed in the said District of Loughs Corrib, Mask, and Carra, to pay into the Bank of Ireland, in the Name and with the Privity of the Accountant General of the Court of Chancery in Ireland, the Sum of Five thousand Pounds, being the Amount of the said Sums of Three thousand two hundred Pounds and One thousand eight hundred Pounds, such Sum to be placed to Account of the said Accountant General there, “to the Credit of the Company of Undertakers for the Improvement of Lough Corrib;” and out of such Sum of Five thousand Pounds there shall be paid, in the first instance, all the Costs, Charges, and Expenses of the said Company, or of the Persons holding Debentures heretofore issued by the said Company, in respect of or incident to the Preparation, Introduction, and Prosecution of a Bill during the Two last Sessions of Parliament, for the Purpose of procuring the Grant of extended Powers to the said Company, but which Bill did not pass into an Act, and in respect of or incident to the Negotiation between the said Company and such Debenture Holders and the Commissioners of Her Majesty’s Treasury and the said Commissioners of Public Works, for the Transfer by the said Company to the said Commissioners of Public Works of the said Works and Lands and Rights in Land, the Amount of such Costs, Charges, and Expenses to be ascertained and certified by One of the Masters of the said Court, and to be paid by the said Company and to such Debenture Holders respectively, or to their respective Solicitors or Agents, in such Manner as may be directed by the Lord High Chancellor of Ireland upon any Petition to be presented in a summary Way; and after Payment of all such Costs, Charges, and Expenses the Surplus of the said Sum of Five thousand Pounds shall be applied, under the Direction and with the Approbation of One of the Masters of the said Court, in the first place, amongst the Persons holding Debentures heretofore issued by the said Company, and, in the next place, amongst the Members of the said Company, in such Shares and Proportions as may be directed by the said Lord Chancellor upon Petition as aforesaid: Provided always, that in case it be not shown to the Satisfaction of the Commissioners of Her Majesty’s Treasury that the Purchase Monies bonâ fide paid by the said Company for such Lands and Rights in Land as aforesaid amount to the Sum of One thousand eight hundred Pounds, it shall be lawful for such Commissioners to authorize the said Commissioners of Public Works to pay to the said Company, in lieu of the Sum of One thousand eight hundred Pounds, such less Sum only as shall have been shown to the Satisfaction of the Commissioners of Her Majesty’s Treasury to have been paid by the said Company for the said Lands and Rights: Provided also, that any Person or Persons having any Claim against the said Company (in respect of any Debt or Liability heretofore incurred) may apply to the said Lord Chancellor, by Petition to be presented as aforesaid, and it shall be lawful for the said Lord Chancellor to make such Order for inquiring into such Claim, and for the Payment of the Amount of any Money due in respect thereof, and of any Costs in relation to such Application, out of the said Sum of Five thousand Pounds, as he shall think just.
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Upon Payment into the Bank the Works, &c. of the Company to vest in Commissioners of Public Works.
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III. And be it enacted, That upon Payment into the Bank of Ireland in manner aforesaid of the said Sum of Three thousand two hundred Pounds and the said Sum of One thousand eight hundred Pounds, or so much of such last-mentioned Sum as shall be payable by the said Commissioners of Public Works under this Act, all the Works heretofore executed by or on behalf of the said Company, and other the Lands, Works, Property, Undertaking, and Rights of the said Company, of every Nature or Kind soever, within the District of their Commission under the Provisions of the said Two first-recited Acts or the said Commission, shall respectively become the Property of and be vested in the said Commissioners of Public Works, and their Successors, for the Purposes of and according to the Intent of the said thirdly-recited Act and the several Acts amending the same, freed and absolutely discharged of and from all Estates, Rights, Interests, Debts, and Incumbrances whatsoever of or occasioned by the said Company of Undertakers: Provided always, that upon Payment as aforesaid of the said Sum of Three thousand two hundred Pounds it shall be lawful for the said Commissioners of Public Works to take possession of and enjoy all the said Lands, Works, Property, Undertaking, and Rights, without Prejudice to the Right of the said Company to the said Sum of One thousand eight hundred Pounds, or so much thereof as may become payable.
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Said Sums of 3,200l. and 1,800l. to form Part of Expenses of Navigation and Drainage in the Lough Corrib District.
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V. And be it enacted, That the said Sum of Three thousand two hundred Pounds and the said Sum of One thousand eight hundred Pounds, or so much of such last-mentioned Sum as shall be paid under this Act, shall be considered as and form Part of the general Expenses incident to the Works of the said Commissioners of Public Works within the said District of Loughs Corrib, Mask, and Carra, and be charged to the said District accordingly, in such Manner and in such Proportions to the Account of the said Navigation, Drainage of Lands, and Improvement of Mill Power in the said District, as the said Commissioners shall think fit; and the said Commissioners are hereby authorized to include the said Sum of Three thousand two hundred Pounds and the said Sum of One thousand eight hundred Pounds, or so much of such last-mentioned Sum as shall be paid as aforesaid, in the Award to be made by the said Commissioners under the Provisions of the said thirdly-recited Act and the Acts amending the same.
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