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RAILWAY COMPANIES ACT 1867 - SECT 4

4. The engines, tenders, carriages, trucks, machinery, tools, fittings,
materials, and effects constituting the rolling stock and plant used or
provided by a company for the purposes of the traffic on their railway, or of
their stations or workshops, shall not, after their railway or any part
thereof is open for public traffic, be liable to be taken in execution at law
or in equity..., where the judgment on which execution issues is recovered in
an action on a contract entered into after the passing of this Act, or in an
action not on a contract commenced after the passing of this Act; but the
person who has recovered any such judgment may obtain the appointment of a
receiver, and, if necessary, of a manager, of the undertaking of the company,
on application by petition in a summary way to the Court of Chancery... in
Ireland ...; and all money received by such receiver or manager shall, after
due provision for the working expenses of the railway and other proper
outgoings in respect of the undertaking, be applied and distributed, under the
direction of the Court, in payment of the debts of the company and otherwise,
according to the rights and priorities of the persons for the time being
interested therein; and on payment of the amount due to every such judgment
creditor as aforesaid the Court may, if it think fit, discharge such receiver
or such receiver and manager.

© 1867 Crown Copyright

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