ABANDONMENT OF RAILWAYS ACT 1850 - SECT 4 After calling of meeting, or receipt of requisition, directors not to make any payments, &c. with respect to railway proposed to be abandoned.

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ABANDONMENT OF RAILWAYS ACT 1850 - SECT 4

After calling of meeting, or receipt of requisition, directors not to make any payments, &c. with respect to railway proposed to be abandoned.

4. After any such meeting has been called by the directors, or after the
receipt of any such requisition as aforesaid, it shall not be lawful for the
directors to make any payments out of the monies of the company for the
purposes of the railway proposed to be abandoned, except in discharge of bona8
fide debts or liabilities, or in performance of contracts or engagements
previously entered into, and in payment of the expenses of calling and holding
such meeting, nor to enter into any contracts or engagements on behalf of the
company with respect to the railway so proposed to be abandoned, nor to make
any calls, nor to register the transfer of any shares, until the meeting
called as aforesaid shall have determined whether such application shall be
made.

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Northern Irish Legislation

ABANDONMENT OF RAILWAYS ACT 1850 - SECT 4