Analysis
Title
Preamble
1 Short Title
2 Vesting of railway, &c., in Crown
3 Purchase-money
4 Purchase-money to include sum expended in purchase of debentures
5 Payment of residue of purchase-money
6 Payment of interest by Company
7 Additional payment of 15,000 for possession of railway on 7th December, 1908
8 Residue of purchase-money to be paid in cash or debentures at option of Company
9 Payment by Crown for railway stores
10 Transfer of documents, &c., to Crown
11 Prior to vesting of railway in Crown, authorised Government officials to have right of entry upon railway, &c.
12 Assignment of contracts by Company
13 Company to maintain property in good repair prior to vesting in Crown
14 Company not to create incumbrance over property after passing of Act
15 Company to maintain policies of fire insurance until property vested in Crown
16 Company to have use of head office for one year after passing of Act
17 Purchase-money, &c., payable either in London or in New Zealand
18 Act deemed to constitute a contract
19 Disputes as to interpretation to be settled by arbitration
20 On date of vesting, railway deemed to be a Government railway opened for traffic
21 Outstanding debentures of Company to be paid by the Crown
22 Rights of debenture-holders, mortgagees, &c., saved
23 Public roads, &c., not affected
24 Registration of title of Crown
25 Minister of Finance may raise moneys for purposes of Act
26 Moneys raised to be paid to Public Works Fund
27 Servants of Company may be appointed permanent officers in Government Railways Department
28 Provisions as to contributors to Government Railways Superannuation Fund who become officers of Government Railways Department
29 Provisions as to contributors who do not become officers of Government Railways Department

Schedule(s)

1 SCHEDULE: Property vested in the Crown by virtue of this Act.