or to any moneys paid to the Secretary of State by the Board of Directors of the Company on the eventual division of the said sinking fund, or to any unclaimed annuities the payment of which has under any provision of this Act been suspended, establishes his right thereto respectively to the satisfaction of the Secretary of State, the Secretary of State shall forthwith, free of all expense to the claimant, pay to such person the moneys to which he has so established his claim, and shall, if the claim be in respect of unclaimed annuities, give notice in writing to the Board of Directors of the Company that such claim has been so established, and thereupon the said Board shall enter the name of such claimant in the proper register of annuitants, and the obligation of the Secretary of State to pay to the Company the portion of the annuity representing the unclaimed annuities in question shall revive. But in case the Secretary of State is not satisfied of the right of any person claiming to be entitled to any such moneys or unclaimed annuities, as the case may be, the claimant may, by petition in a summary way, state and verify his claim in the Chancery Division of Her Majesty's High Court of Justice, and the Court shall make such order thereon declaring the claimant entitled or not entitled to any such moneys or unclaimed annuities as the case may require, and touching the costs of the application as to the Court seems just, and upon any such order of the Court in favour of any claimant, he shall be entitled to the same rights in respect of the moneys or unclaimed annuities claimed by him as if he had established his right thereto to the satisfaction of the Secretary of State as in this sub-section before mentioned. All costs and expenses incurred by or on behalf of the Secretary of State in resisting or appearing on any such petition, if not ordered by the Court to be paid out of any moneys claimed or otherwise, shall be paid by the Secretary of State out of the revenues of India. (10.) The Secretary of State shall require the applicant to give such public notice as the Secretary of State thinks fit by advertisement in one or more newspapers circulating in London and elsewhere, and such notice shall contain such particulars as the case requires and as the Secretary of State directs.

(11.) At any time before repayment of any moneys to any claimant or the entry of his name in either register of annuitants,

any person may apply to the said Division of the Court, by motion or petition, to rescind or vary any order made for payment or entry. If in any case a new claimant establishes his right to any moneys repaid to the former claimant, or to any annuities in respect of which any former claimant has been entered in either register of annuitants as the holder thereof, and such new claimant is unable to obtain repayment of such moneys from the former claimant, or to procure the entry of his name in the proper register as the holder of any such annuities, the said Division of the Court shall, on application by petition by the new claimant, verified as the Court requires, order the Secretary of State to pay to such new claimant the sum of money to which he has established his claim, or to purchase for him annuities of the class to which he has established his claim, or (if such new claimant consent) to give him the current value of such annuities in India stock. All moneys which the Court may order the Secretary of State to pay to or on behalf of any such new claimant shall be paid out of the revenues of India.

18. All sums of money already paid or which shall hereafter be paid by the Secretary of State to any Indian railway company for the discharge of any debentures, either before or after the passing of this Act, issued or authorised to be issued under his guarantee, in respect of which no claim has or shall have been made for one year or more after such payment by any party thereto entitled, shall (whether any person is or is not registered as entitled thereto) be repaid to the Secretary of State.

The said sums so repaid to the Secretary of State may be applied by him as part of the revenues of India or otherwise as the Secretary of State may think fit, subject to the claims of the parties entitled thereto.

19. Where any person claims to be entitled to any sum repaid to the Secretary of State under the last preceding section, the Secretary of State may, on such person showing his right thereto to the satisfaction of the Secretary of State, pay such sum to such person; but in case the Secretary of State is not satisfied of the right of such person, then the person claiming to be entitled to any sum repaid to the Secretary of State may state and verify his claim by petition in the Chancery Division of the High Court in England in a summary way in manner provided by this Act with respect to petitions for stock or dividends;

and the provisions of this Act with regard to such petitions and the proceedings consequent thereon shall, with any necessary modifications, apply to claims under this section.

20. Where any sum is retained by or repaid to the Secretary of State in respect of unclaimed annuity or unclaimed debentures as by this Act provided, the respective railway companies shall be and hereby are indemnified in respect thereof, and shall not be in any manner responsible to any person having or claiming any interest therein.

Miscellaneous.

21. No stamp duty shall be paid or chargeable in respect of the transfer of any stock or annuity to or from the Secretary of State pursuant to the provisions of this Act.

22. Whereas provision has been made for the appointment of a Government director by the Secretary of State on the Boards of certain Indian railway companies; and in some cases the Secretary of State is empowered to appoint a person to represent the Government director at Board meetings and otherwise; and it is expedient that in all cases the Secretary of State should have such power: It is hereby enacted as follows:

It shall be lawful for the Secretary of State, in the case of any Indian railway company, where under his contract with that company he has the power to appoint a Government director but not a person to represent him, from time to time to appoint a person to represent the Government director in his absence at the Board of any such Indian railway company, and any deputy so appointed shall have and may exercise (subject to any regulations of the Secretary of State) all or any of the powers of the Government director.

23. (1.) Notwithstanding any provision in any Act of Parliament or deed of settlement or other instrument founding or regulating a company to the contrary, it shall be lawful for any Indian railway company, from time to time, with the sanction of the Secretary of State, and subject to such regulations and conditions as he may think fit to impose,

(a.) to issue debenture bonds payable to bearer, which shall be negotiable by delivery;

(b.) to issue debenture bonds payable to order, which shall be negotiable by indorsement of the holder;

(c.) to issue debenture bonds payable in

rupee currency;

(d.) to make provision for the exchange of debenture bonds on the application of the holder for debenture bonds of any other form or kind issued by the company.

VOL. LXIV.-LAW JOUR. STAT.

(2.) This section does not confer any additional or further borrowing powers on any Indian railway company, but applies only to the mode of exercise of borrowing powers conferred independently of this Act;

(3.) Trustees (unless expressly authorised by the terms of their trust to hold securities payable to bearer) may not hold debenture bonds payable to bearer issued under this section.

24. For all or any of the purposes of this Act the Secretary of State may require any railway company to which this Act applies to furnish such returns and give such information as he may think expedient.

25. Whereas provision has been made by the East Indian Railway Redemption of Annuities Act, 1881 (in this section referred to as the Redemption Act), for the redemption by the Secretary of State of annuities comprised in the annuity created by the East Indian Railway Company Purchase Act, 1879 (in this section referred to as the Purchase Act); and whereas the provisions of the Redemption Act are inapplicable to such of the said annuities as are annuities of the said Class B in section seventeen of this Act referred to, and it is expedient to make provision applicable to the redemption of such annuities, and also for the redemption of annuities of a similar character which have been or may be created for the purchase of Indian railways:

And whereas under certain contracts made with divers Indian railway companies before the passing of the Redemption Act, the Secretary of State is enabled on terms therein specified to purchase their undertakings either for a capital sum or by means of the creation and grant of an annuity; and whereas the power to create such annuities constitutes a liability contingently chargeable, though not actually charged, on the revenues of India at the date of the passing of the said Act; and whereas it is expedient that the provisions of the Redemption Act should apply to such annuities as and when created: It is hereby enacted as follows:

(1.) When the Secretary of State redeems any annuities of the said Class B, he shall be liable in respect of his holding from time to time to contribute rateably with other annuitants to the sinking fund attached to annuities of the said Class B; and in other respects he shall be liable to, and shall have the benefit of the provisions of sections forty-nine and fifty of the Purchase Act, and on the distribution of the sinking fund attached to annuities of the said Class B, he shall be entitled to receive such share of the sum then dis

Р

tributed as may be attributable to any annuities so redeemed; and any sums which he may contribute to the sinking fund created by the Purchase Act which may be attributable to any annuities redeemed by him shall (by reason of his contribution to the sinking fund) be deemed to have been invested in accordance with the provisions of section two of the Redemption Act, notwithstanding that they have not been set aside and invested in manner directed by section fifty-one of the Purchase Act; and the provisions of the foregoing enactment shall, with any

necessary modifications, apply to any annuities similar to the annuities of the said Class B under the Purchase Act which have been or may be created for the purchase of any Indian railway.

(2.) Section two of the Redemption Act shall be construed and have effect as if the words "now charged or contingently chargeable" were substituted therein for the words "now charged," so as to apply to any annuity which the Secretary of State has created or may create under any of the contracts above referred to.

An Act to amend the Yorkshire Registries Act, 1884. (16th July 1885.)

Be it 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, as follows:

1. This Act may be cited as the Yorkshire Registries Amendment Act, 1885.

2. In this Act the expression "the principal Act" means the Yorkshire Registries Act, 1884.

3. Section ten of the principal Act shall be repealed as from the passing of this Act, provided that such repeal shall not in any way prejudice or affect any caveats given in accor dance with the provisions of the said section before the commencement of this Act, and that for the purposes of such caveats, and of any rights, preferences, and priorities dependent thereon, the said repealed provisions shall be deemed to be and to continue to be of full force and validity.

In lieu of the provisions by this section. repealed the following provisions shall be

enacted:

Subject to any rules made under the principal Act a caveat may at any time be given with respect to any lands within any of the three ridings by any person claiming to be entitled to any interest in such lands in favour of any person named therein, and may be registered under the principal Act; and every caveat so registered shall, unless removed or cancelled in accordance with any rules to be made for that purpose under the principal Act, remain in force for such time as may be specified therein in that behalf.

Every such caveat shall be under the hand and seal of the person by whom it is given, and attested by one witness at the least, and shall contain,—

(A) The date on which it is given:

(B) The name and description of the residence and occupation of the person by whom it is given :

(c) The name and description of the residence and occupation of the person in whose favour it is given:

(D) A statement of the time for which it is intended to remain in force: