Inclosure Act 1852

XXII Application of Compensation for Common Rights paid under the Lands Clauses Consolidation Act, 1845.

Where any Money shall have been or may hereafter be paid to a Committee under " The Lands Clauses Consolidation Act, 1845," or under any Railway or other special Act by which Money may have been directed or authorized to be paid to a Committee, as Compensation for the Extinction of Commonable or other Rights, or for Lands being Common Lands or in the Nature thereof, the Right to the Soil of which may have belonged to the Commoners, and such Committee shall be of opinion that the Provisions of such Act for the Apportionment thereof cannot be satisfactorily carried into effect, such Committee may make Application in Writing to the Commissioners to call a Meeting of the Persons interested in such Compensation Money for the Appointment of Trustees of such Compensation Money and for the Investment thereof, and for the Application of the Interest and annual Produce thereof to such Purposes for the Benefit of the Persons interested therein as the Commissioners shall approve; and if the said Commissioners shall think fit to proceed with such Application they shall call a Meeting accordingly, and the Decision of the Majority in Number and the Majority in respect of Interest of the Persons present at such Meeting shall bind the Minority and all absent Parties : Provided always, that if no Instructions shall be resolved upon, or in case the Commissioners shall deem such Instructions unjust or unreasonable, they may, by an Order under their Seal, give such Instructions for the Investment of such Compensation Money and for the Application of the Income thereof as they shall think fit; and such Order under the Seal of the Commissioners, or the Order approving of such Instructions as aforesaid, shall contain Provisions for the Appointment of new Trustees from Time to Time, and Copies of such Order shall be deposited and kept in like Manner as Copies of an Award are by the firstly herein-before recited Act directed to be. deposited and kept, and the said Committee shall be absolutely discharged from all Liability in respect of such Compensation Money upon Payment thereof to the said Trustees, who shall, out of such Money, in the first place pay and discharge all Expenses which may be incurred by the said Commissioners in respect of or in any way incident to such Application and Order, and apply or invest the Surplus thereof in such Manner as shall by such Order be authorized or directed.