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The Indian Tramways Act, 1902

The Indian Tramways Act, 1902

The Indian Tramways Act, 1902

[14th February, 1902.]

An Act to apply the provisions of the Indian Railway Companies Act, 1895, to certain Tramway Companies.

WHEREAS by the Indian Railway Companies Act, 1895, the Railway Companies therein mentioned are authorized to pay interest on their paid-up share capital out of capital in the manner and on the conditions prescribed by the said Act;

AND WHEREAS it is expedient to apply the provisions of the said Act to Companies formed for the construction of tramways not differing in structure and working from light railways;

It is hereby enacted as follows:—

2. Application of Act 10, 1895, to Tramway Companies.

The Central Government may, by notification in the Official Gazette, direct that the provisions of the Indian Railway Companies Act, 1895, in so far as the same are applicable, shall apply to any Company formed for the construction of a tramway under the Bengal Tramways Act, 1883, or the Indian Tramways Act, 1886, and thereupon it shall be lawful for the Tramway Company mentioned in the notification to pay interest upon its paid-up share capital out of capital in the manner and subject to the conditions prescribed by the said Indian Railway Companies Act, 1895.

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