Railway Companies Powers Act, 1864

Power to Board of Trade to settle draft certificate, according to nature of application, as herein named.

9. Where the Board of Trade proceed on the application, then, on being satisfied that the company have complied with the requirements of the general rules respecting notice, they may, if they think fit, settle a draft of a certificate, certifying to the effect following; namely,

In the first-mentioned case, that the companies in the certificate specified are authorized to agree among themselves with respect to all or any of the matters aforesaid in the certificate specified :

In the secondly-mentioned case, that the time limited for the sale by the company of superfluous lands is extended as in the certificate specified ;

In the thirdly mentioned case, that the company are authorized to raise, as capital, for the purposes of the certificate, such additional sum of money as therein limited, by the issue of new shares or new stock, either ordinary or preference, or partly ordinary and partly preference, or partly in that mode and partly by borrowing on mortgage, at the option of the company, or as may be prescribed in the certificate, and with power to create and issue debenture stock.