Tramways and Public Companies (Ireland) Act, 1883

Provision shall be made by Order in Council for the working of line.

10. (1.) Every Order in Council which confirms a presentment of a grand jury for a baronial guarantee under this Act shall contain all such provisions as may be necessary for securing that the tramway shall be completed, and shall be maintained in good order and condition, and shall be efficiently worked by the company or their assigns, and that if default is made in such completing, or if at any time the receipts from the undertaking are insufficient to defray the expenses of management, and of efficiently maintaining and working the undertaking, then such sums as may be necessary for those purposes shall be contributed from time to time by the guaranteeing baronies, in the same proportions, and shall be assessed and levied in the same manner, as their contributions on account of their guarantee, and such Order shall provide for the manner in which such sums shall be applied for those purposes under the control of the grand jury.

(2.) Such Order shall also provide that if the guaranteeing baronies have been called upon to pay and have paid any money for completing the tramway, or if they have been called upon to pay and have, during a period of not less than two years to be fixed by the Order, continued to pay any money for maintaining or working the undertaking, then the undertaking, and all the property of the company connected with it, shall become the property of the grand jury, subject to any liabilities affecting such undertaking or property, and the undertaking shall be maintained and worked by the grand jury at the cost of the guaranteeing baronies; and the Order shall also provide for the mode in which the undertaking shall be so maintained and worked.

(3.) The Order shall also contain such provisions with respect to the inspection of the works, the audit of accounts, the keeping of books, documents, and vouchers, and their submission to the arbitrators appointed under this Act, as the Lord Lieutenant thinks proper.

(4.) Before any such Order in Council is made, the Commissioners of Public Works shall furnish to the Lord Lieutenant an estimate of the amount of paid-up capital which is necessary for the purposes of the undertaking; and the Lord Lieutenant in Council shall, having regard to such estimate and to such representations as may be made by the company, fix a limit upon the amount of capital upon which dividends may be guaranteed, and, subject to that limit, the amount of capital for the time being paid up shall be deemed to be the amount of the paid-up capital of the company so far as relates to such undertaking within the meaning of this Act.