PART III.

Directorate of the Great Southern Railways Company.

11. —In this Part of this Act—

the expression “the scheme” means the Great Southern Railways Amalgamation Scheme, 1925;

the expression “the company” means the Great Southern Railways Company;

the word “director” does not include a director nominated under the Railways (Directorate) Act, 1924 (No. 61 of 1924) ;

the expression “legal number of directors” means the number of directors for the time being required by law to constitute the board of directors of the Company.

12. —The scheme and the Principal Act shall be construed subject to the provisions of this Part of this Act and shall have effect accordingly.

13. —(1) If the number of directors of the company at the passing of this Act is more than eight, then, notwithstanding anything in the scheme or in Part II of the Second Schedule to the Principal Act, the following provisions shall have effect, that is to say:—

(a) the legal number of directors shall be and, until reduced by the operation of the next following paragraph, continue to be a number equal to the number of directors of the company at the passing of this Act and no greater number; and

(b) until the legal number of directors is by the operation of this paragraph reduced to eight, the legal number of directors shall, whenever and so often as a casual vacancy occurs amongst the directors, be reduced by one and accordingly such casual vacancy shall not be filled;

(c) as on and from the date on which the legal number of directors, is, by the operation of the next foregoing paragraph of this sub-section, reduced to eight, the legal number of directors shall be eight and no greater number.

(2) If the number of directors of the company at the passing of this Act is not more than eight, then, notwithstanding anything in the scheme or in Part II of the Second Schedule to the Principal Act, the legal number of directors shall be eight and no greater number.

(3) Paragraph (5) of section 34 of the scheme shall cease to have effect.

14. —Every act done or purported to be done before the passing of this Act by a body consisting of directors of the company (whether including or not including a director nominated under the Railways (Directorate) Act, 1924 (No. 61 of 1924), and purporting to be the board of directors of the company shall, notwithstanding that the number of directors of the company at the time such act was done or purported to be done was less than the legal number of directors, be and be deemed always to have been as valid and effectual as such act would have been if the number of directors of the company at such time was equal to the legal number of directors.