Transport Act, 1944

Release of dissolved railway company from certain liabilities.

127.—Where no interest on moneys borrowed by any amalgamating company or absorbed company, within the meaning of the Railways Act, 1924 (No. 29 of 1924), has been paid since the 1st day of January, 1925, by the dissolved railway company, the dissolved railway company shall, by virtue of this section, be released as on and from the date of the passing of this Act from all liabilities in respect of such moneys and interest thereon.