73. Colonel THORNEasked the President of the Board of Trade if he is aware that the Government have the right to purchase the railways constructed after the date of the passing of the Act (1844) at 25 years' purchase upon giving in writing three months' notice of their intention to do so, the purchase value to be calculated on the amount earned by the companies in the three preceding years; and if he will take action in the matter?
§ Mr. BRIDGEMANSection 2 of the Act referred to makes it lawful for the Treasury to purchase such railways as have been authorised since 1844 upon giving three months' notice in writing to the company concerned of their intention to do so, but under Section 4 of the Act no such notice can be given until Parliament has passed authorising legislation.