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Railway Companies Act 1867
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24Power to issue Debenture Stock, subject to Part in of 26 & 27 Vict. c.118.
Any Company may create and issue Debenture Stock, subject to the Provisions of Part III of The Companies Clauses Act, 1863, (relating to Debenture Stock,) and the said Part III shall, with respect to any Special Act of a Company incorporating that Part, whether passed or to be passed, be read and have Effect as if the following Words, that is to say, " not exceeding the Rate pre" scribed in the Special Act, and if no Rate is prescribed then not " exceeding the Rate of Four Pounds per Centum per Annum," had not been inserted in Section Twenty-two of that Act; and for the Purposes of the present Section this Act shall be deemed a Special Act passed incorporating that Part and any Special Act of a Company passed before the passing of this Act prescribing any Rate shall be read and have Effect as if no Rate had been prescribed therein.
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