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REGULATION OF RAILWAYS ACT 1868

REGULATION OF RAILWAYS ACT 1868 - LONG TITLE

An Act to amend the Law relating to Railways.{1}
[31st July 1868]
Preliminary

REGULATION OF RAILWAYS ACT 1868 - SECT 1

1. This Act may be cited as "The Regulation of Railways Act,
1868."

REGULATION OF RAILWAYS ACT 1868 - SECT 2
Interpretation of terms.

2. In this Act

The term "railway" means the whole or any portion of a railway or
tramway, whether worked by steam or otherwise:

The term "company" means a company incorporated, either before or
after the passing of this Act, for the purpose of constructing,
maintaining, or working a railway in the United Kingdom (either
alone or in conjunction with any other purpose), and includes,
except when otherwise expressed, any individual or individuals not
incorporated who are owners or lessees of a railway in the United
Kingdom, or parties to an agreement for working a railway in the
United Kingdom:

The term "person" includes a body corporate.

Ss.35 rep. by 1911 c.34 s.7 sch.2

REGULATION OF RAILWAYS ACT 1868 - SECT 6
Examination of affairs by inspectors appointed by Board of Trade on
application.

6. The Board of Trade may appoint one or more competent inspectors
to examine into the affairs of an incorporated company and the
condition of its undertaking, or any part thereof, and to report
thereon, upon any one of the applications following; that is to
say,

<1.Upon application made in pursuance of a resolution passed at a meeting of directors:

<2.Upon application by the holders of not less than two-fifths part of the aggregate amount of the ordinary shares or stock of the company for the time being issued:

<3.Upon application by the holders of not less than one-half of the aggregate amount of the mortgages, debentures, and debenture stock (if any) of the company for the time being issued:

<4.Upon application by the holders of not less than two-fifths of the aggregate amount of the guaranteed or preference shares or stock of the company for the time being issued, provided that the preference capital issued amounts to not less than one-third of the whole share capital of the company.Board of Trade may require security for costs.

REGULATION OF RAILWAYS ACT 1868 - SECT 7
Application to be supported by evidence.

7. The application shall be made in writing, signed by the
applicants, and shall be supported by such evidence as the Board of
Trade may require, for the purpose of showing that the applicants
have good reason for requiring such examination to be made; the
Board of Trade may also, before appointing any inspector or
inspectors, require the applicants to give security for payment of
the costs of the inquiry.Power to administer oaths.

REGULATION OF RAILWAYS ACT 1868 - SECT 8
Inspection of company's books and property.

8. It shall be the duty of the directors, officers, and agents of
the company to produce, for the examination of the inspectors, all
books and documents relating to the affairs of the company in their
custody or power, and to afford to the inspectors all reasonable
facilities for the inspection of the property and undertaking of the
company. Any inspector may examine upon oath the officers and agents
of the company in relation to its business, and may administer such
oath accordingly....

If any director, officer, or agent refuses to produce any book or
document hereby directed to be produced, or to afford the facilities
for inspection hereby required to be afforded, or if any officer or
agent refuses to answer any question relating to the affairs of the
company, he shall incur a penalty of five pounds for every day
during which the refusal continues.Costs of examination.

REGULATION OF RAILWAYS ACT 1868 - SECT 9
Result of examination, how dealt with.

9. Upon the conclusion of the examination the inspectors shall
report their opinion to the Board of Trade and to the company, and
the company shall print the same, and deliver a copy thereof to
the Board of Trade, and, on application, to any person who holds
any ordinary or preference share or stock, or any mortgage,
debenture, or debenture stock of the company. All expenses of and
incidental to any such examination as aforesaid shall be defrayed by
the persons upon whose application the inspectors were appointed,
unless the Board of Trade shall direct the same or any portion
thereof to be paid by the company, which they are hereby authorized
to do.

REGULATION OF RAILWAYS ACT 1868 - SECT 10
Appointment and powers of inspectors.

10. Any company may, by resolution at an extraordinary meeting,
appoint inspectors for the purpose of examining into the affairs of
the company and the condition of the company's undertaking. The
inspectors so appointed shall have the same powers and perform the
same duties as inspectors appointed by the Board of Trade, and
shall make their report in such manner and to such persons as the
company in general meeting directs; and the directors, officers, and
agents of the company shall incur the same penalties, in case of
any refusal to produce any book or document by this Act required
to be produced to such inspectors, or to afford the facilities for
inspection by this Act required to be afforded, or to answer any
question, as they would have incurred if such inspectors had been
appointed by the Board of Trade.

Ss.11, 12 rep. by 1977 NI10 art.12

REGULATION OF RAILWAYS ACT 1868 - SECT 13
Power to divide paid-up ordinary stock into preferred and deferred
ordinary stock.

13. Any company which in the year immediately preceding has paid a
dividend on their ordinary stock of not less than three pounds per
centum per annum may, pursuant to the resolution of an extraordinary
general meeting, divide their paid-up ordinary stock into two
classes, to be and to be called the one preferred ordinary stock,
and the other deferred ordinary stock, and issue the same subject
and according to the following provisions, and with the following
consequences; (that is to say,)

(1)Preferred and deferred ordinary stock shall be issued only in
substitution for equal amounts of paid-up ordinary stock and by way
of division of portions of ordinary stock into two equal parts:

(2)Such division may be made at any time, on the request in
writing of the holder of paid-up ordinary stock, but not otherwise;
and such request may apply to the whole of the ordinary stock of
such holder, or to any portion thereof divisible into twentieth
parts:

(3)Preferred ordinary stock and deferred ordinary stock shall not be
issued except in sums of ten pounds or multiples of ten pounds:

(4)The certificates for any ordinary stock divided into preferred and
deferred ordinary stock shall before such division be delivered up
to the company, and shall be cancelled by them, and certificates
for preferred ordinary stock and deferred ordinary stock shall be
issued gratis in exchange by the company:

(5)If in any case there is any part of the ordinary stock held by
a stockholder comprised in one certificate which he does not desire
to be divided, or which is incapable of division, under the
provisions of this Act, the company shall issue to him gratis a
certificate for that amount as ordinary stock:

(6)As between preferred ordinary stock and deferred ordinary stock,
preferred ordinary stock shall bear a fixed maximum dividend at the
rate of six per centum per annum:

(7)In respect of dividend to the extent of the maximum aforesaid,
preferred ordinary stock shall at the time of its creation, and at
all times afterwards, have priority over deferred ordinary stock
created or to be created, and shall rank pari passu with the
undivided ordinary stock and the ordinary shares of the company
created or to be created; and in respect of dividend, preferred
ordinary stock shall at all times and to all intents rank after
all preference and guaranteed stock and shares of the company
created or to be created:

(8)In each year after all holders of preferred ordinary stock for
the time being issued have received in full the maximum dividend
aforesaid, all holders of deferred ordinary stock for the time being
issued shall, in respect of all dividend exceeding that maximum paid
by the company in that year on ordinary stock and shares, rank
pari passu with the holders of undivided ordinary stock and of
ordinary shares of the company for the time being issued:

(9)If, nevertheless, in any year ending on the thirty-first day of
December there are not profits available for payment to all the
holders of preferred ordinary stock of the maximum dividend
aforesaid, no part of the deficiency shall be made good out of the
profits of any subsequent year, or out of any other funds of the
company:

<(10)Preferred ordinary stock and deferred ordinary stock from time to time shall confer such right of voting at meetings of the company, and shall confer and have all such other rights, qualifications, privileges, liabilities, and incidents, as from time to time attach and are incident to undivided ordinary stock of the company:

<(11)The terms and conditions on which any preferred ordinary stock or deferred ordinary stock is issued shall be stated on the certificate thereof:

<(12)Preferred ordinary stock and deferred ordinary stock shall respectively be held on the same trusts, and subject to the same charges and liabilities, as those on and subject to which the ordinary stock in substitution for which the same are issued was held immediately before the substitution, and so as to give effect to any testamentary or other disposition of or affecting such ordinary stock.

Limitation of liability of company during sea transit, by condition
conspicuously posted in booking office and printed on receipt or
freight note.

REGULATION OF RAILWAYS ACT 1868 - SECT 14

14. Where a company by through booking contracts to carry any
animals, luggage, or goods from place to place partly by land and
partly by sea, or partly by canal and partly by sea, a condition
exempting the company from liability for any loss or damage which
may arise during the carriage of such animals, luggage, or goods by
sea from the act of God, the King's enemies, fire, accidents from
machinery, boilers, and steam, and all and every other dangers and
accidents of the seas, rivers and navigation, of whatever nature and
kind soever, shall, if published in a conspicuous manner in the
office where such through booking is effected, and if printed in a
legible manner on the receipt or freight note which the company
gives for such animals, luggage, or goods, be valid as part of the
contract between the consignor of such animals, luggage, or goods
and the company, in the same manner as if the company had signed
and delivered to the consignor a bill of lading containing such
condition. For the purposes of this section the word "company"
includes the owners, lessees, or managers of any canal or other
inland navigation.

REGULATION OF RAILWAYS ACT 1868 - SECT 15
List of passenger fares to be posted in stations.

15. Every company shall cause to be exhibited in a conspicuous
place in the booking office of each station on their line a list
or lists, painted, printed, or written in legible characters,
containing the fares of passengers by the trains included in the
time tables of the company from that station to every place for
which passenger tickets are there issued.

S.16 rep. by 1888 c.25 s.59 sch.; 1958 c.15 (NI) s.5 sch.2 Pt.I.
Ss. 17, 18 rep. by SLR 1959. S.19 rep. by 1964 c.16 (NI) s.44(1)
sch.4. S.20 rep. by SLR 1959. S.21 rep. by 1954 c.9 (NI) s.29
sch.7; SLR 1959

Means of communication between passengers and the company's servants
to be provided.

REGULATION OF RAILWAYS ACT 1868 - SECT 22

22. Every company shall provide, and maintain in good working order,
in every train worked by it which carries passengers, and travels
more than twenty miles without stopping, such efficient means of
communication between the passengers and the servants of the company
in charge of the train as the Board of Trade may approve. If any
company makes default in complying with this section, it shall be
liable to a penalty not exceeding ten pounds for each case of
default. Any passenger who makes use of the said means of
communication without reasonable and sufficient cause shall be liable
for each offence to a penalty not exceeding [twenty-five pounds].

S.23 rep. by 1977 NI10 art.12

REGULATION OF RAILWAYS ACT 1868 - SECT 24
Removal of trees dangerous to railways.

24. If any tree standing near to a railway shall be in danger of
falling on the railway so as to obstruct the traffic, it shall be
lawful for any two justices, on the complaint of the company which
works such railway, to cause such tree to be removed or otherwise
dealt with as such justices may order, and the justices making such
order may award compensation to be paid by the company making such
complaint to the owner of the tree so ordered to be removed or
otherwise dealt with as such justices shall think proper, and the
amount of such compensation shall be recoverable in like manner as
compensation recoverable before justices under the Railways Clauses
Consolidation Act, 1845.

Appointment by Board of Trade, of arbitrator to determine
compensation for injury or death by accident.

REGULATION OF RAILWAYS ACT 1868 - SECT 25

25. Where a person has been injured or killed by an accident on a
railway, the Board of Trade, upon application in writing made
jointly by the company from whom compensation is claimed and the
person if he is injured, or his representatives if he is killed,
may, if they think fit, appoint an arbitrator, who shall determine
the compensation (if any) to be paid by the company.

S.26 rep. by 1977 NI10 art.12

Board of Trade licence for construction and working of railway as a
light railway.

REGULATION OF RAILWAYS ACT 1868 - SECT 27

27. The Board of Trade may by licence authorize a company applying
for it to construct and work or to work as a light railway the
whole or any part of a railway which the company has power to
construct or work.

Before granting the licence the Board of Trade shall cause due
notice of the application to be given, and shall consider all
objections and representations received by them, and shall make such
inquiry as they think necessary.

REGULATION OF RAILWAYS ACT 1868 - SECT 28
Conditions and regulations for light railways.

28. A light railway shall be constructed and worked subject to such
conditions and regulations as the Board of Trade may from time to
time impose or make: Provided, that (1) the regulations respecting
the weight of locomotive engines, carriages, and vehicles to be used
on such railway shall not authorize a greater weight then eight
tons to be brought upon the rails by any one pair of wheels; (2)
the regulations respecting the speed of trains shall not authorize a
rate of speed exceeding at any time twenty-five miles an hour.If
the company or any person fails to comply with or acts in
contravention of such conditions and regulations, or directs any one
so to fail or act, such company and person shall respectively be
liable to a penalty for each offence not exceeding twenty pounds,
and to a like penalty for every day during which the offence
continues; and every such person, on conviction on indictment for
any offence relating to the weight of engines, carriages, or
vehicles, or the speed of trains, shall be also liable to
imprisonment... for any term not exceeding two years.

REGULATION OF RAILWAYS ACT 1868 - SECT 29
Publication of conditions and regulations.

29. The conditions and regulations of the Board of Trade relating
to light railways shall be published and kept published by the
company in manner directed with respect to byelaws by section one
hundred and ten of the Railways Clauses Consolidation Act, 1845, and
the company shall be liable to a penalty not exceeding five pounds
for every day during which such conditions and regulations are not
so published.

Appointment by Board of Trade of arbitrator to act for them.

REGULATION OF RAILWAYS ACT 1868 - SECT 30

30. Whenever the Board of Trade are required to make any award or
to decide any difference in any case in which a company is one of
the parties, they may appoint an arbitrator to act for them, and
his award or decision shall be deemed to be the award or decision
of the Board of Trade.

If the arbitrator dies, or in the judgment of the Board of Trade
becomes incapable or unfit, the Board of Trade may appoint another
arbitrator.

REGULATION OF RAILWAYS ACT 1868 - SECT 31
Remuneration of arbitrators or umpires appointed by Board of Trade.

31. The Board of Trade may fix the remuneration of any arbitrator
or umpire appointed by them in pursuance of this or any other Act
in any case where a company is one of the parties, and may, if
they think fit, frame a scale of remuneration for arbitrators or
umpires so appointed by them; and no arbitrator or umpire so
appointed by them shall be entitled to any larger remuneration than
the amount fixed by the Board of Trade.

REGULATION OF RAILWAYS ACT 1868 - SECT 32
Costs, &c. of arbitrations, where one of the parties is not a
railway company.

32. The provisions of sections eighteen to twenty-nine, both
inclusive, of the Railway Companies Arbitration Act, 1859, shall so
far as is consistent with the tenor thereof, apply to an arbitrator
appointed by the Board of Trade, and to his arbitration and award,
notwithstanding that one of the parties between whom he is appointed
to arbitrate may not be a railway company; and in construing those
sections for the purpose of this Act, the word "companies" shall be
construed to mean the parties to the arbitration.

S.33 rep. by 1869 c.18 s.2

S.34 rep. by 1977 NI10 art.12. S.35 rep. by 1869 c.6 s.1. S.36
rep. by 1953 c.36 s.91(1) sch.3. S.37 rep. by SLR 1875; 1953 c.36
s.91(1) sch.3. S.38 rep. by SLR 1960. S.39 rep. by 1977 NI10
art.12

REGULATION OF RAILWAYS ACT 1868 - SECT 40
Recovery, &c. of penalties.

40. Every penalty imposed by this Act shall be recovered and
applied in the same manner as penalties imposed by the Railways
Clauses Consolidation Act, 1845,... are for the time being
recoverable and applicable.

REGULATION OF RAILWAYS ACT 1868 - SECT 41
Trial of any questions of compensation.

41. Whenever, in the case of any lands purchased or taken otherwise
than by agreement for the purposes of any public railway, any
question of compensation in respect thereof, or any question of
compensation in respect of lands injuriously affected by the
execution of the works of any public railway, is under the
provisions of the Lands Clauses Consolidation Act, 1845, to be
settled by the verdict of a jury empannelled and summoned as in
that Act mentioned, the company or the party entitled to the
compensation may, at any time before the issuing by the company to
the sheriff as by that Act directed, apply to a judge of any one
of the Superior Courts of Common Law at Westminster, who shall, if
he thinks fit, make an order for trial of the question in one of
the Superior Courts, upon such terms and in such manner as to him
shall seem fit; and the question between the parties shall be
stated in an issue, to be settled in case of difference by the
judge, or as he shall direct, and such issue may be entered for
trial and tried accordingly, in the same manner as any issue joined
in an ordinary action, at such place as the judge shall direct;
and the proceedings in respect of such issue shall be under and
subject to the control and jurisdiction of the court as in ordinary
actions therein, but so nevertheless that the jury shall, where the
issue relates to the value of lands to be purchased, and also to
compensation claimed for injury done or to be done to lands held
therewith, deliver their verdict separately in manner provided by the
forty-ninth section of the Lands Clauses Consolidation Act, 1845.

REGULATION OF RAILWAYS ACT 1868 - SECT 42
Obtaining and notice of judge's order to be satisfaction of duty of
company as to issue of warrant to sheriff.

42. Whenever a company is called upon or liable under the
provisions of the Lands Clauses Consolidation Act, 1845, to issue
their warrant to the sheriff in the case of any disputed
compensation, and the company shall obtain a judge's order as in
the last preceding section mentioned, the obtaining of such an order
and notice thereof to the opposite party shall be a satisfaction of
the company's duty in respect of the issue of the warrant.

REGULATION OF RAILWAYS ACT 1868 - SECT 43
Operation and effect of verdict of jury and judgment of court.

43. The verdict of the jury and judgment of the court upon any
issue authorized by this Act shall, as regards costs and every
other matter incident to or consequent thereon, have the same
operation and be entitled to the same effect as if that verdict
and judgment had been the verdict of a jury and judgment of a
sheriff upon an inquiry conducted upon a warrant to the sheriff
issued by the company under the Lands Clauses Consolidation Act,
1845.

REGULATION OF RAILWAYS ACT 1868 - SECT 44
Interpretion of certain expressions.

44. In so far as any expression used in any of the three
preceding sections of this Act has any special meaning assigned to
it by the Lands Clauses Consolidation Act, 1845, each such
expression shall in this Act have the meaning so assigned to it.

S.45 rep. by 1895 c.11 s.1(2). Ss.46, 47 rep. by SLR 1875

First Schedule rep. by 1911 c.34 s.7 sch.2; SLR (NI) 1954. Second
Schedule rep. by SLR 1875