Harbours and Passing Tolls, &c. Act 1861

34 Board of Trade may continue Ramsgate Harbour Superannuation Fund or wind up the same.

Whereas the Trustees of Ramsgate Harbour have established a Benefit or Superannuation Fund for Persons employed by them at weekly Wages, by means of Contributions from the Workmen, and of Sums added out of the Be venues of the Harbour: And whereas there is a considerable Capital now standing to the Credit of the said Fund: Be it enacted, That the Board of Trade shall either continue the said Benefit or Superannuation Fund in accordance with the Regulations now in force with respect to the same, or such other Regulations as may from Time to Time be approved by them, or shall wind up the said Fund in such a Manner that every Pension granted by the Trustees before the Fifteenth Hay of March One thousand eight hundred and sixty-one, or granted by them after that Day and allowed by the Board of Trade, shall be fully paid, and that every Contributor not in receipt of a Pension granted before such Time as aforesaid shall be repaid the Amount he has contributed, with Interest at Three per Centum per Annum: In case the said Fund is wound up, the Capital of the said Fund now in the Hands of the Trustees shall be employed in satisfying its Liabilities; if the said Capital is insufficient for the Purpose, the Deficiency shall be made up out of the Ramsgate Harbour Fund, but if the said Capital is more than sufficient for the Purpose, any Surplus shall be carried to the Credit of the last-mentioned Fund.