WHEREAS—
(1) The Whitstable Oyster Fishery Company (“the Company”) was incorporated pursuant to the Whitstable Oyster Fishery Act 1896 (c. xli) (“the 1896 Act”) as the successor to the Company of Free Fishers and Dredgers of Whitstable, that company in turn having been incorporated by an Act of 1793 as the successor to the Whitstable Company of Dredgers which, as described in that Act, had managed and carried on the Whitstable Oyster Fishery from time out of mind:
(2) The Company's statutory business comprises the regulating, carrying on and management of the oyster fishery within the limits of the manor and royalty of Whitstable in Kent and various incidental purposes:
(3) The Company has extended its activities to more general trading activities and it would be of public advantage if the Company were re-constituted as a general commercial company and without particular restrictions and limitations imposed on the Company by the 1896 Act remaining applicable to it:
(4) The other statutory provisions regulating the Company's affairs are in many respects outmoded having regard to present-day requirements and it is expedient to enable the Company's powers to be modernised:
(5) The objects of this Act cannot be attained without the authority of Parliament:
May it therefore please your Majesty that it may be enacted, and be it enacted, by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows, that is to say:—
1 Citation
This Act may be cited as the Whitstable Oyster Fishery Company Act 2005.
2 Interpretation
In this Act “the Company” means Whitstable Oyster Fishery Company.
3 Adoption of new constitution
Notwithstanding anything in Schedule 21 to the Companies Act 1985 (c. 6) or anything in any enactment or other instrument constituting or regulating the Company, the Company may, once it is registered as a company limited by shares, by special resolution—
| (a) | adopt the provisions of the Schedule to this Act as its Memorandum of Association, and
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| (b) | adopt Table A with such modifications as appear to it to be appropriate.
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4 Repeals
| (1) | The Whitstable Oyster Fishery Act 1896 (c. xli) is repealed upon the adoption of a memorandum and articles of association in accordance with section 3 of this Act.
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| (2) | Not later than 14 days after the passing of a special resolution in accordance with section 3, the Company shall cause to be published in the London Gazette notice of the repeal effected by this section.
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5 Costs of this Act
The costs, charges and expenses of the Company in securing this Act or otherwise in relation to it shall be paid by the Company and may in whole or in part be defrayed out of revenue.
