Clifton Suspension Bridge Company

Identity area

Type of entity

Corporate body

Authorized form of name

Clifton Suspension Bridge Company

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        Description area

        Dates of existence

        1861-1953

        History

        In 1861 the Clifton Suspension Bridge Company was constituted under Act of Parliament to continue the building of the bridge: the bridge was completed and opened in 1864. Under the 1861 Act it was provided that the Company should pay to the Trustees an annual sum of £50 and that the Trustees should be allotted 200 £10 shares in consideration for transfer to the Company of the land and so much of the structure of the bridge that had been completed. In accordance with their duties under the Act, the Trustees applied this annual payment in the acquisition of the Debenture Stock and Share Capital of the Company.
        Other provisions of the Act of 1861 were that when they had acquired all the issued capital of the Company, the Bridge would be transferred to the Trustees and the Company liquidated; the Trustees would undertake the maintenance of the Bridge and the collection of tolls, investing any surplus in Trustees Securities until a sum of £5,000 was accumulated. At that stage tolls on the bridge were to cease and the income of the fund of £5000 would be used for the purpose of maintaining the Bridge.
        In 1949 the Trustees had acquired all the Debentures in the Company and were in a position to acquire all its outstanding shares. They considered, however, that the provisions of the 88-year-old Act of 1861 had become obsolete and that it would be necessary to obtain an new Act of Parliament. The Clifton Suspension Bridge Act was given royal assent on 1st August 1952. Under the Act the existing Trustees were incorporated as The Clifton Suspension Bridge Trust on 1st October 1952, together with representative Trustees appointed from the Corporation of Bristol and Somerset County Council. The undertaking of the Clifton Suspension Bridge was transferred by the Company to the Trust on the day of transfer, 1 January 1953, and the Company was liquidated.

        Places

        Legal status

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        Mandates/sources of authority

        Clifton Suspension Bridge Act 1830
        Clifton Suspension Bridge Act 1861
        Clifton Suspension Bridge Act 1952

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