|
|
Corporations, &c. under private Acts, charters, &c. may transfer their powers, absolutely or for a term, to commissioners of public works for the purpose of obtaining a loan or grant, &c.
|
16. [Recital of 1 & 2 Will. 4. c. 33. s. 41.] It shall and may be lawful for any body politic and corporate, company, trustees, commissioners, proprietors, or other persons acting under the authority of Parliament or charter, or any deed of settlement, in the execution and making of any road, bridge, canal, harbour, pier, railway, drainage, or embankment or other work, for the promotion of which advances may be made under the authority of the said recited Acts or this Act, if they shall so think fit, and if the said commissioners of public works shall so require, to transfer and assign, either absolutely or for such term and subject to such conditions as may be agreed upon, to the said commissioners of public works, for the purpose of obtaining any loan or grant and carrying such work into execution, all and every the powers and authorities belonging to or anywise vested in such corporation, company, trustees, commissioners, proprietors, or other persons for the execution of any such work as aforesaid; and every such transfer and assignment shall be good, valid, and effectual, and the said commissioners of public works shall by virtue thereof be and become invested, either absolutely or for such term as may be therein mentioned, with all such powers and authorities in respect of the execution of such work (but subject nevertheless to the like duties and obligations) as by such Act, charter, or deed of settlement the body politic and corporate, company, trustees, commissioners, proprietors, or other persons making such transfer and assignment might lawfully use and exercise, any thing in such Act, charter, or deed to the contrary notwithstanding, and although such body corporate or politic, commissioners, trustees, company, proprietors, or other persons may not or have not otherwise than by this Act right, power, or authority to make such transfer and assignment; and from and after such transfer and assignment all and every the powers and authorities in respect to the execution of such work theretofore vested in or belonging to such body politic or corporate, company, trustees, commissioners, proprietors, or other persons making such transfer and assignment, shall cease and determine absolutely, or be suspended during the term specified in such transfer and assignment: Provided always, that no such transfer or assignment shall prejudice or affect the said commissioners of public works, or any of them, their or any of their estates, real or personal.
|
