240. Such purchaser shall apply to the Legislature at the next following session thereof after the purchase of such railway or section of railway, for an act of incorporation or other legislative authority, to hold, operate and run such railway or section of railway; and, if such application be made to the Legislative and be unsuccessful, the Minister may extend the order to run and operate such railway or section of railway until the end of the then next session of the Legislature, and no longer; and if during such extended period, the purchaser does not obtain such act of incorporation or other legislative authority, such railway or section of railway shall be closed or otherwise dealt with by the Minister, as may be determined by the Government.
R. S. 1964, c. 290, s. 257.