Page:Public General Statutes 1896.djvu/474

454 shall be open at all reasonable times to examination and transcription by the Board of Trade.

(5.) On the fulfilment by the Company from time to time and at all times during the continuance of this Agreement of the above conditions, the Treasury will guarantee for a period of thirty years from the date of the opening for passenger traffic of the railway, the payment of interest or dividend at the rate of three pounds per centum per annum on the two hundred and sixty thousand pounds of share capital to be raised under the said Act, and will pay half-yearly to the Company such sum as along with the balance of fifty per centum of the gross revenues of the Company arising from the railway after payment thereout of Government duty and rates and taxes as aforesaid may be necessary to enable the Company to pay a dividend for the half-year immediately preceding the date of payment of three pounds per centum per annum on the said capital of two hundred and sixty thousand pounds.

(6.) Her Majesty's Government will pay to the Company the said sum of thirty thousand pounds towards the cost of the construction of the said pier and breakwater on the completion thereof being certified by the Board of Trade.

(7.) No liability shall attach to the Treasury under this Agreement other than the liability to pay in accordance with clause 6 of this Agreement the said sum of thirty thousand pounds, and from time to time during the continuance of this Agreement such sums as may be required to give effect to clause 5 of this Agreement out of moneys provided by Parliament, or if such moneys are not sufficient, out of moneys charged on and paid out of the Consolidated Fund or the growing produce thereof; provided that such last mentioned moneys not be payable as part of the annual charge for the National Debt.

(8.) If at any time during the continuance of this Agreement the portion of the undertaking of the Company authorised by the said Act is, with the sanction of Parliament, acquired by and transferred to or amalgamated with the undertaking of any other company or companies, then, on the completion of such acquisition, transfer, or amalgamation such other company or companies shall be and be deemed to be substituted for the Company in these presents.

(9.) This Agreement is in substitution of the Agreement between the Company and two of the Lords Commissioners of Her Majesty's Treasury, dated the seventh day of May one thousand eight hundred and nine-five.

In witness whereof the parties hereto of the first part have to one part of these presents set their hands and seals and the Company have to another part of these presents caused their Common Seal to be affixed the day and year first above written.

The Common Seal of the West Highland Railway Company was hereunto affixed in the presence of

,

Secretary, West Highland Railway Company.