Dublin and Blessington Steam Tramway (Abandonment) Act, 1932

Redemption of the guaranteed shares.

7.—(1) In this section references to the holder of a guaranteed share shall include—

(a) in the case of any such share held by one person only on the appointed day, the personal representative, assignee in bankruptcy, or liquidator (as the case may require) of such person; and

(b) in the case of any such share held by two or more persons on the appointed day, all such persons and the survivors and survivor of such persons and the personal representative, assignee in bankruptcy, or liquidator (as the case may require) of the last survivor of such persons.

(2) On the appointed day the guaranteed shares of the Company shall become and be extinguished and the register (in this section referred to as the said register) of holders of such shares required by law to be kept by the Company shall be closed and no further entries shall be made in such register.

(3) The Company shall on the appointed day deliver to the Committee the said register and shall thereafter furnish to the Committee such other documents and information in the possession of the Company relating to the guaranteed shares and the holders thereof as the Committee shall from time to time require.

(4) As soon as conveniently may be after the appointed day the Committee shall—

(a) send by post to every person appearing in the said register to have been the holder or one of two or more joint holders of one or more guaranteed shares on the appointed day notice in writing addressed to such person at his address as stated in the said register informing him that the guaranteed shares have been extinguished by this Act and that the holder of a guaranteed share or shares is entitled to receive from the Committee the sum of five pounds ten shillings for every such share held by him upon his making application therefor in the manner and within the time (not being less than three months from the posting of such notice) specified in such notice; and

(b) publish at least once in each of two daily newspapers published in Dublin a notice in general terms to the same effect as the said notices hereinbefore required to be sent to holders of guaranteed shares.

(5) The Committee shall, out of the moneys provided for that purpose under this Act, pay to every person who makes such application within such time as is specified in the said notices and appears to the Committee to have been on the appointed day the holder of one or more guaranteed shares the sum of five pounds ten shillings for every such share.

(6) The Committee shall pay into the Circuit Court in Dublin the sum of five pounds ten shillings for every guaranteed share in respect of which no application under this section is made by the holder thereof within the time specified in the said notices or in respect of which no person has within the said time satisfied the Committee that he is entitled to receive the sum of five pounds ten shillings payable under this section.

(7) The payment in accordance with this section by the Committee of the sum of five pounds ten shillings to a person appearing to the Committee to be the holder of a guaranteed share or into the Circuit Court shall be a complete and final discharge of all claims against the Company or the Committee in respect of the guaranteed share in respect of which such sum is so paid except claims for dividends on such share accrued but not paid before the appointed day.