1908 Stock Exchange Year-Book: Lighting and Water

Note: This is a sub-section of the 1908 Stock Exchange Year-Book

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Lighting and Water Companies (INCLUDING ELECTRIC LIGHTING COMPANIES).

Gas and Water Companies incorporated by Acts of Parliament have no liability attaching to fully-paid shares or stock. It is considered useful to say that the numerous stocks and shares with fixed dividends are not necessarily preferences.

Under the Electric Lighting Acts of 1882 and 1888, where any undertaking has been authorised by a provisional order or special Act to supply electricity within any area, any local authority within whose jurisdiction all or any part thereof is situated may within six months after the expiration of a period of forty-two years from the date of the passing of the Act confirming the provisional order or of such special Act, and within six months after the expiration of every subsequent period of ten years, compulsorily purchase such undertaking on paying the value of all lands, buildings, works, material, and plant, "but, without any addition in respect of compulsorily purchase, or of goodwill, or of any profits which may or might have been or be made from the undertaking, or of any similar considerations," The periods after which the local authorities may purchase are subject, however, to there having been no special stipulation in any provisional order or in any special Act.

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