Search Legislation

Durham Markets Company Act 1992

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)

More Resources

Status:

This is the original version (as it was originally enacted). This item of legislation is currently only available in its original format.

Section 4.

SCHEDULE 1

Amendments of Act of 1851

1After section IX (Calls) there shall be inserted the following section:—

IXALimited liability

The liability of the shareholders is limited to the amount, if any, unpaid on the shares respectively held by them..

2In section XXX (Power to hold Markets) the words “with the previous Consent and Concurrence of the Mayor, Aldermen and Citizens of the City of Durham for that Purpose first had and obtained” and paragraph (b) of the proviso shall be omitted.

3In section XXXI (Power to lease Stands, &c. in Markets) the words “not exceeding Seven Years” and “and not exceeding Twenty-one Years” shall be omitted.

4In section XXXIII (Tolls to be taken for Markets) for the words “such Stallages, Rents, and Tolls as the Company shall from Time to Time appoint, not exceeding the several Stallages, Rents, and Tolls specified in Schedule (B.) to this Act” there shall be substituted the words “such charges as the Company may determine”, for the words “Stallages, Rents, and Tolls hereby authorized” there shall be substituted the words “charges hereby authorized” and for the words “several Stallages, Rents, or Tolls specified in the said Schedule (B.)” there shall be substituted the word “charges”.

5In section XXXV (Tolls for Use of Market Place during Fairs) for the words from “such Stallages”, where those words first occur, to the end of the section there shall be substituted the words “such charges as the Company may determine”.

6In section XXXVI (Tolls for weighing Carts, &c.) for the words from “such Tolls” to the end of the section there shall be substituted the words “such charges as the Company may determine”.

7In section XXXVIII (Sales elsewhere than in Markets prohibited under Penalty of Forty Shillings) after the word “Sale” there shall be inserted the words “any articles, or shall arrange for or organise the sale or exposure for sale by any person of any articles”, for the words “any Articles” there shall be substituted the words “being Articles” and for the words “Twenty Pounds” there shall be substituted the words “level 3 on the standard scale”.

8In section XL (The Company may collect or take a Lease of the other Market Tolls payable to the Corporation) for the words “Stallages, Rents, and Tolls specified in the Schedule (B.) to this Act annexed” there shall be substituted the word “charges”.

Amendments of Act of 1965

9In subsection (3) of section 7 (Tolls, etc.), for the words from “also” to “sanction” there shall be substituted the words “make such charges as the Company may determine”.

10After section 7 (Tolls, etc.) there shall be inserted the following section:—

7APower to hold, lease and sell lands

(1)Notwithstanding anything contained in any other provision of this Act the Company may acquire by purchase or otherwise, retain, hold or use any land and may from time to time, for such considerations or such rents and upon such terms (pecuniary or otherwise) and conditions as they may from time to time think fit, sell, exchange, lease or otherwise dispose of any land from time to time belonging to them and which in the opinion of the Company either may be disposed of for the better advantage of the undertaking or may not be for the time being required for the purposes of the undertaking and (for such term or period as they may think proper) may lease or grant the use or occupation of or easements or rights over or affecting any shop, building, work, approach or convenience for the time being belonging to or provided by them.

(2)The Company—

(a)may, for the purposes of the undertaking, manage, use or develop land belonging to or held by them as they think fit; and

(b)in addition may, with a view to selling or otherwise disposing of any right or interest in the land after the development is carried out—

(i)retain any land belonging to them which is not required for the purposes of the undertaking and develop it or procure its development for use by other persons; and

(ii)where the use of land belonging to them for the purposes of the undertaking can be combined with its use for other purposes, develop the land or procure its development for use wholly or partly by other persons.

(3)The Company may acquire other land by agreement, whether by purchase, exchange, lease, licence or otherwise, for the purpose of developing it or of procuring its development together with the land already belonging to them..

11In subsection (1) of section 8 (Additional capital) for the words “one hundred thousand pounds” in both places where they occur there shall be substituted the words “five hundred thousand pounds”.

12For subsection (2) of section 8 (Additional capital) there shall be substituted the following subsections:—

(2)The Company may borrow or raise or secure the payment of money for the purposes of or in connection with the undertaking not exceeding in the whole the sum of two million pounds or such larger amount as the Company may from time to time in general meeting determine.

(3)Notwithstanding anything in any enactment, the directors may by virtue of this section and without further or other sanction or authority exercise any powers of borrowing for the time being vested in the Company..

13After section 8 (Additional capital) there shall be inserted the following section:—

8APowers of investment

The directors may invest and deal with the moneys of the Company not immediately required for the purposes of the undertaking and may deal with the securities and other investments of the Company in such manner as they may from time to time determine..

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources