1Short title

This Act may be cited as St. Austell Market Act 2008.

2Interpretation

In this Act—

• “the St. Austell Market Act 1842” means an Act for taking down the Market House in the Town of Saint Austell in the County of Cornwall, and for erecting a more convenient Market House instead thereof; for providing a new Market Place; and for increasing and regulating the Markets and Fairs within the same Town (5 & 6 Vict. c. xiv);

• “the 1842 Act” means the St. Austell Market Act 1842;

• “the appointed day” means such day as the Commissioners may appoint by resolution for the purposes of section 3(1) of this Act;

• “the books of account” means the books of account required to be kept in accordance with section 43 of the 1842 Act;

• “the Commissioners” means The Commissioners of St. Austell Markets and Fairs, being those persons for the time being acting as commissioners in the execution of the 1842 Act;

• “the Company” means St. Austell Market House CIC, a community interest company registered at Companies House under number 06231251;

• “the Market House” means the lands, buildings and related facilities held by the Commissioners for the purpose of St. Austell Market;

• “resolution” means a resolution of the Commissioners in accordance with the 1842 Act;

• “St. Austell Market” means the market now operated by the Commissioners by virtue of the 1842 Act; and

• “the undertaking” means the Market House and St. Austell Market.

3Transfer and continuance of the undertaking

(1)Notwithstanding anything in the 1842 Act, the Commissioners may, on such day as they may by resolution appoint, transfer the undertaking to the Company; and the undertaking shall thereupon vest in the Company including—

(a)all that property vested in the Commissioners which immediately before the appointed day was held by them for the purposes of the undertaking; and

(b)subject to section 8 (release from trusts) and section 9 (repeals) of this Act, all rights, liabilities and obligations of the Commissioners subsisting immediately before the appointed day for the purposes of the undertaking.

(2)Not less than 28 days before the appointed day the Commissioners shall publish in The London Gazette and in at least one local newspaper circulating in St. Austell, a notice containing a copy of the resolution and explaining the effect of the resolution.

(3)Without prejudice to any other powers available to the Company but without imposing any obligation, the Company may hold and maintain St. Austell Market at the Market House and on any other land belonging to or held by the Company from time to time.

4Final accounts of the Commissioners

(1)The books of account shall be made up to the appointed day and shall be audited by an auditor appointed by the Commissioners.

(2)The auditor’s fee shall be payable by the Company.

(3)Any sum certified by the auditor to be due from any person to the Commissioners shall be paid to the Company.

5Books, etc., to remain evidence

All books and documents which, if this Act had not been passed, would have been evidence in respect of any matter for or against the Commissioners, shall be admissible in respect of that matter for or against the Company.

6Saving of agreements, etc.

All sales, conveyances, leases, grants, assurances, deeds, contracts, bonds, agreements, notices and demands affecting the undertaking and in force immediately before the appointed day shall on and from that day be as binding and of as full force and effect in every respect and may be enforced as fully and effectively against or in favour of the Company as if the Company were a party thereto, bound thereby or entitled to the benefit thereof.

7Pending actions not to abate

Any action, arbitration or proceeding and any cause of action, arbitration or proceeding pending or existing on the appointed day by or against or in favour of the Commissioners in relation to the undertaking shall not abate or be discontinued or be in any way prejudicially affected by the transfer to the Company of the undertaking or by anything in this Act, but it may be continued, prosecuted and enforced by, against or in favour of the Company as and when it might have been continued, prosecuted and enforced by, against or in favour of the Commissioners if this Act had not been passed, but not further or otherwise.

8Release from trusts

(1)As from the appointed day the Market House shall be freed from all trusts and restrictions attaching to the Market House or its use by reason of its use for a market pursuant to the 1842 Act.

(2)As from the appointed day the Commissioners shall be freed from all trusts and restrictions attaching to them by reason of their appointment as Commissioners under the 1842 Act.

9Repeals

On the appointed day the 1842 Act shall be repealed.

10Costs of Act

The costs, charges and expenses preliminary to, and of and incidental to, the preparing and passing of this Act shall be paid by the Commissioners and may in whole or in part be defrayed out of revenue.